Initial resource heterogeneity differences between family and non-family firms: Implications for resource acquisition and resource generation |
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Authors: | Francisco Javier Forcadell Fernando Úbeda José Ángel Zúñiga-Vicente |
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Institution: | 1. ESIC Business & Marketing School, Universidad Rey Juan Carlos, Spain;2. Universidad Autónoma de Madrid, Spain |
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Abstract: | A fundamental, but overlooked stream of resource-based theory (RBT) is the analysis of combinations of initial heterogeneous resource endowments with homogeneous resources that are acquired in the market. These combinations can generate heterogeneous, specific non-tradable resources, which are a potential source of superior competitive advantage and, hence, performance. In order to operationalize this idea empirically, we analyse the development of internationalization resources (considered a specific category of non-tradable resources) within family and non-family firms. Compared to non-family firms, we argue that family firms are able to combine a particular type of heterogeneous initial resource (i.e. familiness) with homogeneous tradable resources acquired in the market. This question is tested using a panel of family and non-family Spanish manufacturing firms for the period 1990 to 2010. As a result, this study contributes to the literature on RBT, extending previous theoretical and empirical research in this stream. |
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Keywords: | Resource-based theory Resource management Resource use Heterogeneity Strategic factor markets Family firms Internationalization Entrepreneurship |
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