Understanding Opportunity Discovery and Sustainable Advantage: The Role of Transaction Costs and Property Rights
SMG Working Paper No. 18/2008
54 Pages Posted: 6 May 2008
Date Written: April 26, 2008
To add insight in new value creation, opportunity discovery should be integrated with strategic management theory. Based on the resource-based view and the economics of property rights we build a framework that accomplishes this. Our key argument is that property rights and transaction costs are important antecedents of opportunity discovery. We identify two mechanisms that establish this influence, and examine alternative ways in knowledge, transaction costs, and property rights influence opportunity discovery and sustainable advantage.
Keywords: Opportunity discovery, sustainable advantage, transaction costs, property rights, the resource-based view, knowledge.
Suggested Citation: Suggested Citation