This paper demonstrates that insiders can erect barriers to entry and skim rents by sinking costs in human capital when labour markets are otherwise perfectly contestable. The sunk costs nature of human capital investments may result from the need to satisfy ever increasing specialised skill...

Institutions matter greatly in the development of competitive advantage. Different institutional strategies to manipulate and shape institutions are discussed in the literature. This paper aims at extending the existing conceptual model of membership strategy. Despite being referenced...