Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd.
Journal of economics & management strategy
9 (2000), S. 0
ISSN:
1530-9134
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
This paper examines a nearly untested premise of the resource-based view of the firm: managers can exploit uncertainty about a factor's true value to generate returns. Our results show that empirically validating this basic proposition is difficult and potentially impossible, despite our use of a rather simple empirical setting. While market imperfections appear to underlie the payment of baseball free agents, we cannot easily determine whether this imperfection constitutes a return or not. In addition, while we find convincing evidence of uncertainty underlying owner's expectations of a free agent's performance potential, it is not clear whether team owners can exploit this uncertainty by amassing superior informational strategies or investing in complementary assets. Our difficulty in testing resource-based propositions suggests limitations to the theory's practicality.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1430-9134.2000.00585.x
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