 We argue that Rugman and Verbeke (2002) underestimate the importance of Penrose’s (1959) contributions to the modern resource-based view of the firm. In particular, we take issue with Rugman and Verbeke’s (2002) arguments concerning Penrose’s (1959) contributions to our knowledge of: (1) the creation of competitive advantage, (2) sustaining competitive advantage, (3) isolating mechanis...

This article finds that, when faced with racial inequity framed as White advantage, Whites' desire to think well of their racial group increases their support for policies perceived to harm Whites. Across 4 studies, the article provides evidence that (a) relative to minority disadvantage, White advantage increases Whites' support for policies perceived to reduce their group's economic opportuni...

Non-timber forest products (NTFPs) play an important role in rural economic growth and farmers’ revenue increase. A key issue in NTFP development is the competitiveness of different products or the same product in different regions. Using production data for main NTFPs, such as citrus, bamboo shoots, waxberry and green-tea in Zhejiang, this paper estimates the Efficiency Advantage Index (EAI), ...

Decisive factor of scale of land is the capacity of management and control of agricultural operation subject, which is strengthened with improvement of skills. Only if scale of land is enlarged accordingly, then economic profit can be gained. Under such external circumstances as reduction of agricultural comparative advantage and fluctuation of relative factor prices brought about by economic d...

This chapter introduces the learner to the meaning of competitive advantage and posits that a firm’s strategy is defined as the managers’ theory about how to gain and sustain competitive advantage. The manner in which a firm creates its competitive advantage by creating more economic value than its rivals, and explains that profitability depends upon value, price, and costs is demonstrated. The...

In an era of global economic recession, Higher Education Institutions (HEIs) are experiencing severe pressure from budget reduction. As a result, they have been forced to develop more competitive ways in order to tap on resources and capabilities stemming from contemporary rapid technological and organisational changes. Thus, quality management issues have drawn the interest of academics and pr...

Japan was the first non-western country to accomplish successful industrialization, and the dominant perception of its ‘industrial policy’ had over-emphasized specific characteristics of Japan. However, from the perspective of today’s development thinking, Japan’s economic history shared a wide range of common factors in usual economic development: macroeconomic stability, human resource develo...

The correlation between GDP and research publications is an important issue in scientometrics. This article provides further empirical evidence connecting revealed comparative advantage in national research with effects on economic output. Using quantitative time series analysis, this study attempts to determine the nature of causal relationships between research output and economic growth. One...

Resource-based theory focuses on how economic value is created and sustained, providing the theoretical underpinnings for explaining and predicting sustainable competitive advantage. An implicit assumption of resource-based theory is that the firm’s property rights to such resources are secure. However, where property rights to potentially value-creating resources are not fully secure, as in bu...

This research develops an evolutionary growth theory that captures the interplay between the evolution of mankind and economic growth since the emergence of the human species. The theory suggests that the struggle for survival that had characterized most of human existence generated an evolutionary advantage to human traits that were complementary to the growth process, triggering the take-o® f...