Asset stock accumulation and sustainability of competitive advantage

Asset stock accumulation and sustainability of competitive advantage

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Article ID: iaor19911431
Country: United States
Volume: 35
Issue: 12
Start Page Number: 1504
End Page Number: 1511
Publication Date: Dec 1989
Journal: Management Science
Authors: ,
Keywords: marketing, performance
Abstract:

Given incomplete factor markets, appropriate time paths of flow variables must be chosen to build required stocks of assets. That is, critical resources are accumulated rather than acquired in ‘strategic factor markets’. Sustainability of a firm’s asset position hinges on how easily assets can be substituted or imitated. Imitability is linked to the characteristics of the asset accumulation process: time compression diseconomies, asset mass efficiencies, inter-connectedness, asset erosion and causal ambiguity.

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