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Penrose’s Resource‐Based Approach: The Process and Product of Research Creativity

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  • Yasemin Y. Kor
  • Joseph T. Mahoney

Abstract

As this paper documents, Edith Tilton Penrose’s (1959) classic The Theory of the Growth of the Firm is one of the most influential books of the second half of the twentieth century bridging economics and management. Yet, there is little understanding of the process by which this classic came about and the lessons to be learned concerning research creativity. This paper explores Penrose’s (1959) ‘resources approach’ to the growth of the firm as an iterative process of scientific discovery via induction and scientific justification by deductive reasoning. We focus on: (1) the research process that led to Penrose’s (1959) classic; (2) the book’s contributions to management; (3) the generative nature of Penrose’sresearch for current resource‐based theory; and (4) future research building on Penrose’s ‘resources approach’.

Suggested Citation

  • Yasemin Y. Kor & Joseph T. Mahoney, 2000. "Penrose’s Resource‐Based Approach: The Process and Product of Research Creativity," Journal of Management Studies, Wiley Blackwell, vol. 37(1), pages 1-1, January.
    • Handle: RePEc:bla:jomstd:v:37:y:2000:i:1:p:no-no:4
    DOI: 10.1111/1467-6486.00174
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    5. John Joseph & Alex J. Wilson, 2018. "The growth of the firm: An attention‐based view," Strategic Management Journal, Wiley Blackwell, vol. 39(6), pages 1779-1800, June.
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    7. Danchi Tan & Weichieh Su & Joseph T. Mahoney & Yasemin Kor, 2020. "A review of research on the growth of multinational enterprises: A Penrosean lens," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(4), pages 498-537, June.
    8. Michael Kourtis & Panayiotis Curtis & Michael Hanias & Eleftherios Kourtis, 2021. "A Strategic Financial Management Evaluation of Private Hospitals’ Effectiveness and Efficiency for Sustainable Financing: A Research Study," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 1025-1054.
    9. Babelytė-Labanauskė Kristina, 2022. "Re-exploring Seminal Works on Resource-Based View and Resource Dependence Theory: The Case of Entrepreneurial Research Organization," Management of Organizations: Systematic Research, Sciendo, vol. 87(1), pages 21-42, June.
    10. Christian Linder & Christian Lechner & Frank Pelzel, 2020. "Many Roads Lead to Rome: How Human, Social, and Financial Capital Are Related to New Venture Survival," Entrepreneurship Theory and Practice, , vol. 44(5), pages 909-932, September.
    11. Pattit, Jason M. & Pattit, Katherina G. & Spender, J C, 2021. "Edith T. Penrose: Economist of "The Ordinary Business of Life"," MPRA Paper 106375, University Library of Munich, Germany.
    12. Marco Furlotti & Giuseppe Soda, 2018. "Fit for the Task: Complementarity, Asymmetry, and Partner Selection in Alliances," Organization Science, INFORMS, vol. 29(5), pages 837-854, October.
    13. Redhwan Al‐Dhamari & Abdulsalam Saad Alquhaif & Bakr Ali Al‐Gamrh, 2022. "Modelling the impact of audit/remuneration committee overlap on debtholders' perceptions of accounting information quality: The role of CEO power," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 2898-2920, July.
    14. Lindsey N. Godwin & Christopher E. Stevens & Nurete L. Brenner, 2006. "Forced to Play by the Rules? Theorizing how Mixed–Sex Founding Teams Benefit Women Entrepreneurs in Male–Dominated Contexts," Entrepreneurship Theory and Practice, , vol. 30(5), pages 623-642, September.
    15. Fariss–Terry Mousa & Richard Reed, 2013. "The Impact of Slack Resources on High–Tech IPOs," Entrepreneurship Theory and Practice, , vol. 37(5), pages 1123-1147, September.
    16. Alexandra Dawson & Imants Paeglis & Nilanjan Basu, 2018. "Founder as Steward or Agent? A Study of Founder Ownership and Firm Value," Entrepreneurship Theory and Practice, , vol. 42(6), pages 886-910, November.
    17. Guoliang Frank Jiang & Jeffrey J. Reuer & Colette Southam & Paul W. Beamish, 2022. "The impact of initial public offerings on SMEs’ foreign investment decisions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(5), pages 879-901, July.
    18. Eleftherios Kourtis & Michael Kourtis & Panayiotis Curtis & Michael Hanias, 2022. "Sustainable Business Growth, Value Creation and Dynamic Competitive Advantage: The Greek Pharmaceutical Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 46-79.
    19. Martin-Rios, Carlos & Erhardt, Niclas L. & Manev, Ivan M., 2022. "Interfirm collaboration for knowledge resources interaction among small innovative firms," Journal of Business Research, Elsevier, vol. 153(C), pages 206-215.
    20. Yan Jingwen & Azmawani Abd Rahman & Tong Tong, 2022. "Research on the Impact of BMI on Enterprise Performance Based on the Antecedence of Risk Perception," Sustainability, MDPI, vol. 14(23), pages 1-22, November.
    21. Dariusz Klimek, 2020. "Sustainable Enterprise Capital Management," Economies, MDPI, vol. 8(1), pages 1-10, February.
    22. Pham, Man Duy (Marty), 2022. "Management connection and firm performance: Evidence from Global Financial Crisis," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    23. Elżbieta Jędrych & Dariusz Klimek & Agnieszka Rzepka, 2021. "Principles of Sustainable Management of Energy Companies: The Case of Poland," Energies, MDPI, vol. 14(8), pages 1-18, April.
    24. Deniz Ucbasaran & Andy Lockett & Mike Wright & Paul Westhead, 2003. "Entrepreneurial Founder Teams: Factors Associated with Member Entry and Exit," Entrepreneurship Theory and Practice, , vol. 28(2), pages 107-128, March.

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