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Causation, counterfactuals and competitive advantage

Author

Listed:
  • Rodolphe Durand

    (HEC Paris - Ecole des Hautes Etudes Commerciales)

  • Eero Vaara

    (Hanken School of Economics - Hanken School of Economics)

Abstract

Causation is still poorly understood in strategy research, and confusion prevails around key concepts such as competitive advantage. In this paper, we define epistemological conditions that help dispel some of this confusion and provide a basis for more developed approaches. In particular, we argue that a counterfactual approach—one that builds on a systematic analysis of ‘what-if' questions—can advance our understanding of key causal mechanisms in strategy research.We offer two concrete methodologies—counterfactual history and causal modeling—as useful solutions. We also show that these methodologies open up new avenues in research on competitive advantage. Counterfactual history can add to our understanding of the contextspecific construction of resource-based competitive advantage and path dependence, and causal modeling can help to reconceptualize the relationships between resources and performance. In particular, resource properties can be regarded as mediating mechanisms in these causal relationships.

Suggested Citation

  • Rodolphe Durand & Eero Vaara, 2009. "Causation, counterfactuals and competitive advantage," Post-Print hal-02312531, HAL.
    • Handle: RePEc:hal:journl:hal-02312531
    DOI: 10.1002/smj.793
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    Citations

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    Cited by:

    1. Obloj Krzysztof, 2019. "Footnotes to organizational competitiveness," Economics and Business Review, Sciendo, vol. 5(3), pages 35-49, September.
    2. Martin, Xavier, 2013. "Solving theoretical and empirical conundrums in international strategy research by matching foreign entry mode choices and performance," Other publications TiSEM 7645ea46-0b9a-4fc0-ae33-a, Tilburg University, School of Economics and Management.
    3. Joep Cornelissen & Mariëtte Kaandorp, 2023. "Towards Stronger Causal Claims in Management Research: Causal Triangulation Instead of Causal Identification," Journal of Management Studies, Wiley Blackwell, vol. 60(4), pages 834-860, June.
    4. Virgile Chassagnon, 2014. "Toward a Social Ontology of the Firm: Reconstitution, Organizing Entity, Institution, Social Emergence and Power," Journal of Business Ethics, Springer, vol. 124(2), pages 197-208, October.
    5. Peter Buhanist, 2015. "Path Dependency in the Energy Industry: The Case of Long-term Oil-indexed Gas Import Contracts in Continental Europe," International Journal of Energy Economics and Policy, Econjournals, vol. 5(4), pages 934-948.
    6. E. Moreva L. & Е. Морева Л., 2017. "Бизнес-Модель И Ее Роль В Разработке Инновационной Политики (Анализ Зарубежных Концепций) // The Business Model And Its Role In The Development Of The Innovation Policy (Analysis Of Foreign Concepts)," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 21(4), pages 126-137.
    7. Elco van Burg & A. Georges L. Romme, 2014. "Creating the Future Together: Toward a Framework for Research Synthesis in Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 38(2), pages 369-397, March.
    8. Mingers, John, 2015. "Helping business schools engage with real problems: The contribution of critical realism and systems thinking," European Journal of Operational Research, Elsevier, vol. 242(1), pages 316-331.
    9. Federico Iannacci & Colm Fearon & Kristine Pole, 2021. "From Acceptance to Adaptive Acceptance of Social Media Policy Change: a Set-Theoretic Analysis of B2B SMEs," Information Systems Frontiers, Springer, vol. 23(3), pages 663-680, June.
    10. Perren, Lew, 2013. "Strategic discourses of ‘competitive advantage’: Comparing social representation of causation in academia and practice," Scandinavian Journal of Management, Elsevier, vol. 29(3), pages 235-246.
    11. Phillip H. Kim & Karl Wennberg & Gregoire Croidieu, 2016. "Untapped Riches of Meso-Level Applications in Multilevel Entrepreneurship Mechanisms," Post-Print hal-02276717, HAL.
    12. Charles Baden-Fuller & Vincent Mangematin, 2013. "Business models: A challenging agenda," Grenoble Ecole de Management (Post-Print) hal-00869707, HAL.
    13. Steigenberger, Norbert, 2014. "Only a matter of chance? How firm performance measurement impacts study results," European Management Journal, Elsevier, vol. 32(1), pages 46-65.
    14. Geels, Frank W., 2022. "Causality and explanation in socio-technical transitions research: Mobilising epistemological insights from the wider social sciences," Research Policy, Elsevier, vol. 51(6).
    15. repec:hal:gemwpa:hal-00869707 is not listed on IDEAS
    16. Charles Baden-Fuller & Vincent Mangematin, 2013. "Business models: A challenging agenda," Post-Print hal-00869707, HAL.
    17. Lukka, Kari, 2014. "Exploring the possibilities for causal explanation in interpretive research," Accounting, Organizations and Society, Elsevier, vol. 39(7), pages 559-566.
    18. Benjamin Mueller & Nils Urbach, 2021. "Understanding strategy assessment in IS management," Information Systems and e-Business Management, Springer, vol. 19(4), pages 1245-1273, December.
    19. repec:hal:wpaper:hal-00869707 is not listed on IDEAS
    20. Nicholas S. Argyres & Alfredo De Massis & Nicolai J. Foss & Federico Frattini & Geoffrey Jones & Brian S. Silverman, 2020. "History‐informed strategy research: The promise of history and historical research methods in advancing strategy scholarship," Strategic Management Journal, Wiley Blackwell, vol. 41(3), pages 343-368, March.
    21. Eero Vaara & Juha-Antti Lamberg, 2016. "Taking historical embeddedness seriously : Three historical approaches to advance strategy process and practice research," Post-Print hal-02276732, HAL.
    22. Timo Ehrig & Jens Schmidt, 2022. "Theory‐based learning and experimentation: How strategists can systematically generate knowledge at the edge between the known and the unknown," Strategic Management Journal, Wiley Blackwell, vol. 43(7), pages 1287-1318, July.
    23. Peter J. Buckley, 2016. "Historical Research Approaches to the Analysis of Internationalisation," Management International Review, Springer, vol. 56(6), pages 879-900, December.
    24. Jean-Philippe Vergne & Colette Depeyre, 2015. "How do firms adapt? A fuzzy-set analysis of the role of cognition and capabilities in U.S. defense firms’ responses to 9/11," Post-Print hal-01274005, HAL.

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