An empirical test of the resource-based theory: strategic regulation in the Dutch audit industry

Article Abstract:

The resource-based view of the firm is a strategic management theory that aims to determine the resources that may offer firms a sustainable competitive edge. First introduced by Wernefelt in 1984, this view is described as an integrative theory of strategy that closes the gap between theories of internal organizational capabilities and external competitive strategy. An empirical test of the resource-based theory on the Dutch audit industry during the 1967-1990 timeframe using longitudinal data appears to support the major predictions of the resource-based theory. Strategic regulation, which invigorates demand for audit services and protects rent-producing resources, is found to be a major determinant of this history.

Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Netherlands, Accounting firms, Accounting services, Corporations, Dutch

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Conglomerates revisited

Article Abstract:

Recent studies of the benefits and disadvantages of conglomerate diversification have focused primarily on manufacturing firms. A more comprehensive sample of conglomerates is constructed which allows changes in conglomerate behavior to be examined more closely. Acquisition and divestiture decisions for the period 1975 to 1984 are analyzed. Results indicate that corporate managers are reducing the complexity of conglomerates by reducing the number of enterprises controlled and increasing the relatedness between the enterprises managed.

Corporate reorganizations

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Corporate diversity and economic performance: the impact of market specialization

Article Abstract:

A market-based typology of corporate strategy is introduced. Firms that concentrate in one market area at given levels of sophistication should have superior performance, because different markets require different skills for success. This proposed relationship between financial performance and diversification is supported by empirical evidence from a sample of manufacturing firms.

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