A Review of Approaches to Empirical Research on the Resource-Based View of the Firm†

Abstract

This study reviews empirical studies of the resource-based view (RBV) and examines methodological issues and new directions that will help to clarify the value and boundaries of the RBV. Through our comprehensive review of the research design and operationalization of resource-based constructs used in 125 empirical studies, we (1) discuss key empirical issues particularly important to RBV research, (2) illustrate how researchers have or have not overcome some of these challenges, and (3) highlight two important approaches that offer promise for sharpening the boundary conditions of the RBV: an integrative framework for RBV research and utilization of nonsignificant results.

Modern Resource-Based Theory(ies)

“…Hoopes and Madsen (2008) argue that the RBV lacks a cumulative body of work showing how firms differ in their resource bases. In survey articles on the empirical support for the RBV, Armstrong and Shimizu (2007) and Newbert (2007) find only modest support for the key tenets of the RBV that connect resource characteristics to sustained profitability (cf. Crook et al 2008 for a meta study that finds more robust support).…”

Smes Marketing Mix: Examining Influencing Factors for Its Successful Management

“…In the same line with the most recent stream of research, this paper agrees that, when operationalising this concept, for SMEs of the B2B market it is vital to manage a standardised marketing mix and its influencing factors successfully. In doing so, the work by Theodosiou and Leonidou [42] is considered to be the most comprehensive review of the operationalisation of a standardised marketing mix conducted to date with regard to marketing mix management [50,51]. The authors Theodosiou and Leonidou [42] examined in-depth studies with a total of 35 elements influencing a marketing mix.…”

A resource-based view on non-urban regional flourishing in Europe

“…Several studies of RBT have highlighted the importance of qualitative studies when business resources are difficult to analyze because of the quantitative complexity. Armstrong and Shimizu (2007) argue that this difficulty can be reduced by conducting field interviews or by making close observations of real life activities in addition to using data from trade journals and ideas from other experts. Those studies show it is possible to use quantitative measures within a qualitative approach while examining the effects of intangible resource aspects, like knowledge complexity, tacitness and the persistence of a firm's performance advantage.…”

“…Those studies show it is possible to use quantitative measures within a qualitative approach while examining the effects of intangible resource aspects, like knowledge complexity, tacitness and the persistence of a firm's performance advantage. Since external business environments change rapidly, the use of a qualitative, intervention approach together with RBT insights is fairly new in the area of business administration (Armstrong and Shimizu, 2007).…”

“…Intangible resources may be trademarks, patents, know-how, human resources (employee skills) and organizational practice and processes. The literature discusses all these resources in depth (e.g., Armstrong and Shimizu, 2007;Collis and Montgomery, 1995;Locket, 2005;Locket, O'Shea and Wright, 2008;Locket, Thompson and Morgenstern, 2009). The crucial factor that determines a resource's value is whether a company owns and/or controls it (Barney, 1991).…”