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Article: Rethinking the effectiveness of asset and cost retrenchment: The contingency effects of a firm's rent creation mechanism

TitleRethinking the effectiveness of asset and cost retrenchment: The contingency effects of a firm's rent creation mechanism
Authors
KeywordsCapabilities
Resource-based view
Retrenchment
Ricardian rent
Schumpeterian rent
Issue Date2013
PublisherJohn Wiley & Sons Ltd. The Journal's web site is located at http://www.interscience.wiley.com/jpages/0143-2095
Citation
Strategic Management Journal, 2013, v. 34 n. 1, p. 42-61 How to Cite?
AbstractThis paper posits that the efficacy of different retrenchment strategies depends upon the firm's core rent creation mechanism. We focus on two distinct mechanisms of rent creation: Ricardian rent creation based on the exploitation of resources and Schumpeterian rent creation based on explorative capabilities. We argue that cost retrenchment may have detrimental effects on firms with a relatively high Schumpeterian rent focus. On the other hand, asset retrenchment may erode the basis for future rent creation for firms with a higher Ricardian rent focus. Our findings based on a sample of large nondiversified Japanese firms highlight the differing degrees of fragility and recoverability of the two rent creation mechanisms in the context of different retrenchment strategies. © 2012 John Wiley & Sons, Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/164741
ISSN
2015 Impact Factor: 3.38
2015 SCImago Journal Rankings: 6.278
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorLim, DSKen_HK
dc.contributor.authorCelly, Nen_HK
dc.contributor.authorMorse, EAen_HK
dc.contributor.authorRowe, WGen_HK
dc.date.accessioned2012-09-20T08:09:02Z-
dc.date.available2012-09-20T08:09:02Z-
dc.date.issued2013en_HK
dc.identifier.citationStrategic Management Journal, 2013, v. 34 n. 1, p. 42-61en_HK
dc.identifier.issn0143-2095en_HK
dc.identifier.urihttp://hdl.handle.net/10722/164741-
dc.description.abstractThis paper posits that the efficacy of different retrenchment strategies depends upon the firm's core rent creation mechanism. We focus on two distinct mechanisms of rent creation: Ricardian rent creation based on the exploitation of resources and Schumpeterian rent creation based on explorative capabilities. We argue that cost retrenchment may have detrimental effects on firms with a relatively high Schumpeterian rent focus. On the other hand, asset retrenchment may erode the basis for future rent creation for firms with a higher Ricardian rent focus. Our findings based on a sample of large nondiversified Japanese firms highlight the differing degrees of fragility and recoverability of the two rent creation mechanisms in the context of different retrenchment strategies. © 2012 John Wiley & Sons, Ltd.en_HK
dc.languageengen_US
dc.publisherJohn Wiley & Sons Ltd. The Journal's web site is located at http://www.interscience.wiley.com/jpages/0143-2095en_HK
dc.relation.ispartofStrategic Management Journalen_HK
dc.subjectCapabilitiesen_HK
dc.subjectResource-based viewen_HK
dc.subjectRetrenchmenten_HK
dc.subjectRicardian renten_HK
dc.subjectSchumpeterian renten_HK
dc.titleRethinking the effectiveness of asset and cost retrenchment: The contingency effects of a firm's rent creation mechanismen_HK
dc.typeArticleen_HK
dc.identifier.emailCelly, N: ncelly@hku.hken_HK
dc.identifier.authorityCelly, N=rp01308en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1002/smj.1996en_HK
dc.identifier.scopuseid_2-s2.0-84870558571en_HK
dc.identifier.hkuros207677en_US
dc.identifier.eissn1097-0266-
dc.identifier.isiWOS:000311855900003-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridLim, DSK=36102852100en_HK
dc.identifier.scopusauthoridCelly, N=26024981200en_HK
dc.identifier.scopusauthoridMorse, EA=7102472707en_HK
dc.identifier.scopusauthoridRowe, WG=9744294700en_HK

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