Transaction cost economics has long been a key perspective on the organization of economic activity. Over the past three decades, numerous studies have examined transaction cost economics' assertion that the costs surrounding exchanges, called transaction costs, direct managers' decisions about whether to organize activities via market, hybrid, or hierarchy, and whether organizing this way enha…
Resource-based theory (RBT) has emerged as a key perspective guiding inquiry into the determinants of organizational performance. Since the early 1990s, numerous studies have examined RBT's assertion that the extent to which organizations possess strategic resources is positively related to performance. Although many studies appear to support this assertion, there is no consensus regarding how …