Heterogeneous Resources and the Financial Crisis

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Heterogeneous Resources and the Financial Crisis

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Title: Heterogeneous Resources and the Financial Crisis
Implications of Strategic Management Theory
Author: Agarwal, Rajshree; Barney, Jay B.; Foss, Nicolai J.; Klein, Peter G.
Abstract: Macroeconomic theory assumes that factors of production in the economy are homogeneous and fungible. As a result, it may be ill-suited for developing policy responses to the recent financial crisis. Theories of strategic management and organization, with their emphasis on heterogeneously distributed resources and capabilities, may be better positioned. Examples of where macroeconomic theory may lead policies astray, and where theories of strategic management may be more appropriate, are provided.
URI: http://hdl.handle.net/10398/7906
Date: 2009-09-07

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