Resource obsolescence through competition from converging technologies is quickly becoming a more urgent problem for sustaining competitive advantage than resource imitation. Not only can it make a firm’s resources obsolete or too costly to be competitive, it may also bring about shifts of...

The paper discusses patterns of resource erosion (alternatively called resource decay, leakage, depreciation). Taking a stocks-flows perspective, erosion is conceptualized as the loss of value per period (e.g. a year) of an asset stock (e.g. R&D capital, brand loyalty) as a consequence of a...

In the past five years, each of the BRIC countries has revised its merger control policies and practice, changing the conditions for competing in these markets. In this article, we provide the facts about M&A activity in the BRIC countries vs. the EU and the US. The data show: 1.) compared to...

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" (Barney [Barney, J. 1986. Strategic factor markets: Expectations, luck, and...