The DOI matches its Crossref record; 169 of the 169 references it cites were found in a registry or an index.
A capability theory of the firm: an economics and (Strategic) management perspective
Open accessAbstract
The business enterprise is the prime institution in economic development and growth; yet, until recently, mainstream economics has mostly treated firms as homogeneous black boxes managed by untrustworthy agents. Using economic principles, the field of strategic management has developed a nuanced approach to understanding how firms are created, organized, and grow; how they innovate and compete; and how managers manage. That approach has yielded a theoretical framework known as ‘dynamic capabilities’. Contrasts are drawn between dynamic capabilities and other approaches to the theory of the firm, including transaction cost economics and agency theory. The application of capability theory allows intellectual blinders to be removed and an understanding of differential firm-level resource allocation and performance to emerge. This brings a richer conceptual understanding of the nature of the business enterprise and its management consistent with evolutionary and behavioural economics. Policy insights into governance, inequality, economic development, and the wealth of nations follow.
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Cites
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Self-citationThe Economic Institutions of Capitalism
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Cited by
Organizational Capabilities and the Economic History of the Industrial Enterprise
Chandler, A. D. (1992) · Journal of Economic Perspectives · doi:10.1257/jep.6.3.79 · Cited by 847
Antecedents, consequences, and challenges of small and medium-sized enterprise digitalization
Eller, R., Alford, P., Kallmünzer, A., & Peters, M. (2020) · Journal of Business Research · doi:10.1016/j.jbusres.2020.03.004 · Cited by 837
AI-powered marketing: What, where, and how?
Kumar, V., Ashraf, A. R., & Nadeem, W. (2024) · International Journal of Information Management · doi:10.1016/j.ijinfomgt.2024.102783 · Cited by 509
Dynamic capabilities for digital transformation
Ellström, D., Holtström, J., Berg, E., & Josefsson, C. (2022) · Journal of Strategy and Management · doi:10.1108/jsma-04-2021-0089 · Cited by 380
Capability-Based Theories of Multinational Enterprise Growth
Teece, D. J., & Petricevic, O. (2020) · The Oxford Handbook of International Business Strategy · doi:10.1093/oxfordhb/9780198868378.013.3 · Cited by 16
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Metadata
- Authors
- Teece, D. J.
- Venue
- New Zealand Economic Papers
- Publisher
- Informa UK Limited
- Published
- 2017-09-08
- Volume
- 53
- Issue
- 1
- Pages
- 1-43
- ISSN
- 0077-9954 (ISSN-L)
- 1943-4863
- OpenAlex
- W2752932305
- Cited by
- 426
- References
- 169
- FWCI
- 35.46
- Type
- journal article
- Language
- en
- Open access
- bronze
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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