Edith Penrose's Contributions to the Resource-Based View: An Alternative Perspective

11 Pages Posted: 7 Mar 2004

See all articles by Andy Lockett

Andy Lockett

Nottingham University Business School (NUBS)

Steve Thompson

University of Leicester - Department of Economics

Abstract

Edith Penrose's work has been widely acknowledged to have played a central role in providing the intellectual foundations of the resource-based view. This position, however, was recently challenged in a paper by Rugman and Verbeke (2002). In this paper we address the three main arguments of Rugman and Verbeke and, by drawing on her writings, demonstrate that their arguments are materially incorrect. While readily conceding that Penrose's primary goal was to explain the growth of firms, we show that her analysis of path-dependent firm evolution anticipated many key propositions of the resource-based view.

Suggested Citation

Lockett, Andy and Thompson, Steve, Edith Penrose's Contributions to the Resource-Based View: An Alternative Perspective. Available at SSRN: https://ssrn.com/abstract=513210

Andy Lockett (Contact Author)

Nottingham University Business School (NUBS) ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom

Steve Thompson

University of Leicester - Department of Economics ( email )

Department of Economics
Leicester LE1 7RH, Leicestershire LE1 7RH
United Kingdom
+44 116 252 2897 (Phone)

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