Jay B. Barney

Jay B. Barney
University of Utah | UOU · David Eccles School of Business

About

127
Publications
240,854
Reads
How we measure 'reads'
A 'read' is counted each time someone views a publication summary (such as the title, abstract, and list of authors), clicks on a figure, or views or downloads the full-text. Learn more
69,671
Citations

Publications

Publications (127)
Conference Paper
Full-text available
As the study of entrepreneurship continues to advance, recognition of the role of theory in the development of the field grows. In this paper, we build on our collective experiences to offer a peak into the inner working of theorizing and highlight how specifically to develop theoretical insights for advancing entrepreneurship scholarship. Four pri...
Article
Full-text available
As the study of entrepreneurship continues to advance, recognition of the role of theory in the development of the field grows. In this paper, we build on our collective experiences to offer a peak into the inner working of theorizing and highlight how specifically to develop theoretical insights for advancing entrepreneurship scholarship. Four pri...
Article
This article explains how viewing resource-based theory within Brandenburger and Stuart’s value creation framework adds clarity to the theory as a whole and to its essential elements including the definition of its dependent variables, its approach to value creation, and its approach to the appropriation of economic value. Building on this foundati...
Article
I have recently been encouraged to share my personal reflections on the emergence of resource-based theory. In many ways, I have been reluctant to do so, at least in print, since any such effort would necessarily reflect my idiosyncratic view of this history. A complete discussion of both the people involved in the development of resource-based the...
Article
We briefly introduce the fourteen articles that compose the special issue. Collectively, they highlight three types of pathways for additional contributions involving the resource-based view of the firm: opportunities to enhance synergy between the resource-based view and other theories, opportunities to build greater content knowledge by leveragin...
Article
Rather than introducing radical new “grand theory” paradigms, most theory contributions in strategic management extend, clarify, or apply received theories in new and interesting ways. Here, we offer a guide on how to make these kinds of contributions to theory. Theory usually begins with a research question, which can come from the phenomenon of i...
Article
This paper distinguishes between text and metatext in the resource-based view (RBV) – that is, the actual words and logic fundamental to the RBV (the text) and the traditions, interpretations and applications of the theory (the metatext). It argues that Kaufman's (2015) criticism of the RBV as applied to strategic human resource management actually...
Article
Prior scholarship has assumed that firm-specific and general human capital can be analyzed separately. This paper argues that, in some settings, this is not the case because prior firm-specific human capital investments can be a market signal of an individual's willingness and ability to make such investments in the future. As such, the willingness...
Chapter
Known best in the strategy field for his work on the resource-based view (RBV) of the firm, Birger Wernerfelt has also amassed a respectable body of work in the fields of marketing and economics. His professed research topics of interest include the theory of the firm, selling formats, marketing design, marketing implementation and organizational i...
Chapter
A firm would be enticed to imitate the resources and capabilities that enable other firms to gain a competitive advantage. Nevertheless, imitation efforts might not pay off. Firms with an advantage, as a consequence, will be able to maintain it over a long period of time. This article discusses four major reasons why it might be costly to imitate a...
Chapter
The resource-based view (RBV) has emerged as one of several important explanations of persistent firm performance differences in the field of strategic management. After passing through an intense period of theoretical development and proliferation in the early 1980s and early 1990s, basic RBV logic was established and began to have an impact on em...
Article
Full-text available
Research summary: Prior theory suggests that the performance effects of a firm's diversification strategy depend on a firm's individual resources and capabilities and the setting within which it is operating. However, prior tests of this theory have examined the average diversification-performance relationship across all firms, instead of estimatin...
Article
Full-text available
This paper documents the Management, Spirituality, and Religion’s Plenary Session at the Academy of Management, Philadelphia, 2014, with Jay B. Barney, Judy Wicks, and C. Otto Scharmer. The speakers were asked to discuss their views on Transcendental Leadership in terms of their own spiritual practices and how these practices contribute to a shift...
Article
Full-text available
Despite decades of effort, abject poverty remains a serious problem in many countries around the world. The effects of five approaches to poverty alleviation—foreign aid, microfinance, social entrepreneurship, base of the pyramid initiatives, and the establishment of property rights among the abjectly poor—are briefly reviewed. While each of these...
Chapter
This article defines the various entrepreneurial resources and explains how they are used to gain competitive advantage or exploit competitive imperfections. It also provides suggestions for future research in entrepreneurship.
Chapter
Discovery opportunities are assumed to arise from competitive imperfections in markets due to changes in technology, consumer preferences, or some other attributes of the context within which a market or industry exists. In particular, these opportunities emerge independent of the actions of those seeking to generate economic profits from exploitin...
Article
Kozlenkova et al. (Journal of the Academy of Marketing Science 2013) show that resource-based theory has had important implications for marketing. This paper suggests that marketing might have important implications for resource-based theory.
Article
Entrepreneurial activity does not always lead to economic growth. While improvements have been made to human capital, property rights protection, and access to financial capital in abject poverty contexts with the assumption that they will increase entrepreneurial activity, the results have been mixed. More recently, many entrepreneurs interested i...
Article
Full-text available
This research draws on transaction-cost and resource-based theory to examine how information technology (IT) capital moderates the relationship between different types of assets and firm scope—both vertical integration and diversification. The analysis suggests that IT capital enables firms with narrowly valuable assets to be less vertically integr...
Article
Full-text available
This article explores the theoretical and empirical implications of incorporating forgone opportunities in strategic management research. Drawing on the well-studied literature examining whether firms should reinvest in focused businesses or pursue alternatives of diversifying and/or paying out excess cash to shareholders, hypotheses are developed...
Article
Full-text available
In the extant organizational, management, and strategy literatures there are now frequent calls for microfoundations. However, there is little consensus on what microfoundations are and what they are not. In this paper we first (briefly) review the history of the microfoundations discussion and then discuss what microfoundations are and are not. We...
Article
The authors present a response to an article in a prior issue by S. Ramoglou entitled "On the Misuse of Realism in the Study of Entrepreneurship" that itself was a comment on their own earlier article entitled"Epistemology, Opportunities, and Entrepreneurship: Comments on Venkataraman et al (2012) and Shane (2012)." They address Ramoglou's contenti...
Article
Full-text available
This article addresses a long-established yet still contentious question in international management scholarship—Is it possible and desirable to create a universal theory of management and organization? Scholarship about the boundary conditions of endogenous theory and the need for indigenous theories of management as well as geopolitical changes i...
Article
Research on opportunities has received significant attention in entrepreneurship in the last decade. However, recently the focus has shifted from opportunities themselves to the processes that form and exploit them. This paper traces the history of opportunity origins and draws upon the implications of opportunity types to suggest associated entrep...
Article
The article comments on the articles, "Reflections on the 2010 AMR Decade Award: Whither the promise? Moving forward with entrepreneurship as a science of the artificial" by S. Venkataraman, S. D. Sarasvarthy, N. Dew, and W. R. Forster and "Reflections on the 2010 AMR Decade Award: Delivering on the promise of entrepreneurship as a field of researc...
Article
Strategic entrepreneurship is a newly recognized field that draws, not surprisingly, from the fields of strategic management and entrepreneurship. The field emerged officially with the 2001 special issue of the Strategic Management Journal on “strategic entrepreneurship”; the first dedicated periodical, the Strategic Entrepreneurship Journal, appea...
Article
This research draws on transaction cost and resource-based theory to examine how information technology (IT) capital moderates the relationship between different types of assets and firm scope-both vertical integration and diversification. The analysis suggests that IT capital enables firms with narrowly valuable assets to be less vertically integr...
Chapter
Full-text available
A long debate has been developed on resource-based theory (RBT) since the 1980s. When the new assumptions of this theory were explicated, deep and strong reactions came out. The main theoretical questions that have been constantly posed in international debate are essentially two: 1) how can firms gain their competitive success, that is to say thei...
Article
Contrary to Ramsay's (2001) conclusion and Hunt and Davis's (2008) positioning of their recent article, resource‐based theory suggests that purchasing and supply chain management will often have the attributes that can enable them to be sources of sustained competitive advantage.
Article
How do bankruptcy laws as formal institutions affect entrepreneurship development around the world? Do entrepreneur-friendly bankruptcy laws encourage more entrepreneurship development at a societal level? We posit that if bankrupt entrepreneurs are excessively punished for failure, they may give up potentially high-return but inherently high-risk...
Article
Full-text available
Since the 1991 publication of the first Journal of Management special issue devoted to resource-based inquiry, resource-based theory (RBT) has evolved from a nascent, upstart perspective to one of the most prominent and powerful theories for understanding organizations. Indeed, 20 years after that landmark issue, RBT appears to have reached maturit...
Article
This paper examines the implications of real options theory for both the decision to divest a business unit and the mode of divestment. It is shown that the decision to divest a business unit and the decision to engage in staged modes of divestment are both sensitive to uncertainty, consistent with the real options logic. However, in the face of un...
Chapter
Full-text available
The field of entrepreneurship has struggled since the 1970s to define itself as a field and gain legitimacy as a valid academic area of research (Cooper, 2003). Much of the work in entrepreneurship was either theoretical or used the phenomena as a context in which to observe other theories (Alvarez & Barney, 2008). This led to a “land grab” mentali...
Article
Two approaches to studying opportunities have emerged in the entrepreneurship literature. This paper shows that the first of these approaches—which focuses on how alert entrepreneurs discover objective opportunities formed by exogenous shocks in an existing market—adopts a critical realist perspective. The second approach—which focuses on opportuni...
Article
Macroeconomic theory assumes that factors of production in the economy are homogeneous and fungible. As a result, it is poorly suited for analyzing and developing policy responses to the recent financial crisis. Theories of strategic management and organization, with their emphasis on heterogeneous resources and capabilities, are better positioned....
Article
abstractTwo approaches to the evolution of Chinese scholarship are possible. The first – developing a theory of Chinese management – focuses on applying and refining theories developed elsewhere in a Chinese context. In this sense, the emergence of the Chinese economy represents an important natural experiment for the test and refinement of general...
Article
摘要 中国管理学术的发展存在两种可能演进路径:第一,发展中国管理理论———侧重于在中国背景下运用与完善其他情境中发展出的管理理论。从这个意义上讲,正在兴起的中国经济给验证与完善通用的管理理论提供了一个重要的天然实验室。第二,发展管理的中国理论———着力于对中国独有的管理现象给出解释。为更好地阐释中国现象,该路径应摆脱西方学者设定议题的制掣,而由中国学者自主、创造性地开发研究议题。最后,本文就中国管理研究之未来路径选择的意义,以及两种路径的关系进行了讨论。
Article
Company brands signify a message to consumers about the quality and value of a product. Countries can also be branded. However, unlike the brands of individual firms, country brands are collective goods. The nature of country brands creates the possibility of free riding, where individual firms benefit in terms of price or access from the promise m...
Article
This paper offers a model of alliance governance that explicitly recognizes that managers of alliances simultaneously face the objectives of maximizing gains from trade while minimizing the threat of opportunism in the transaction-an apparent paradox. Our model shows that both the gains from trade and the threat of opportunism are influenced by fir...
Chapter
Presently the field of entrepreneurship, despite calls for the development of a unique theory, continues to lack a unifying theoretical base that can be used to explain, predict, and empirically examine entrepreneurial phenomena. Within the field of entrepreneurship much of entrepreneurship scholarship is still in the "describing the phenomena" sta...
Article
Full-text available
The conditions, which leads some IT using firms to get more competitive advantage than others, has been explored along with discussing IT business value and IT competitive advantage on the basis of resource-based view (RBV). It has been found that the key IT features that affects performance depends on Shared IT-Business understanding, which is the...
Article
There is often great power in an interesting question. Some 70 years ago, Ronald Coase (Coase, 1937) posed just such a question: Why do firms exist? And here we are, 70 years later, struggling to understand the answer to this question for one particularly important class of firms, entrepreneurial firms. This special issue brings together some leadi...
Article
We argue that the risk associated with the value of a firm's core resources has an impact on employee decisions to make firm-specific investments, independent of the threat of opportunism that might exist in a particular exchange. We further explore mechanisms firms may adopt to mitigate the employee incentive problem stemming from the risk assicia...
Article
Recent work has suggested that mergers or acquisitions between strategically related firms will generate abnormal returns for shareholders of bidding firms. Empirical evidence on this hypothesis has been mixed. The relatedness hypothesis is refined by arguing that relatedness is not a sufficient condition for acquiring firms to earn abnormal return...
Article
We develop a real options perspective to explore how an entrepreneur-friendly bank- ruptcy law can encourage entrepreneurship development at the societal level. If bankrupt entrepreneurs are excessively punished for failure, they may let inherently high-risk but potentially high-return opportunities pass. We suggest that a more entrepreneur-friendl...
Article
Two theories of entrepreneurial action - Discovery Theory and Creation Theory - are discussed. While Discovery Theory and its assumptions have been addressed in the literature, neither the assumptions of Creation Theory nor how they are related to the assumptions of Discovery Theory have yet been discussed. The empirical implications of these two t...
Article
We argue that the risk associated with the value of a firm's core resources has an impact on employee decisions to make firm-specific investments. independent of the threat of opportunism that might exist in a particular exchange. We further explore mechanisms firms may adopt to mitigate the employee incentive problem stemming from the risk associa...
Article
Studying the US personal computer industry from its inception in 1974 through 1994, we address the following questions. What product strategies increase the survival chances of entrants into new, technologically dynamic industries? Does the effectiveness of these product strategies differ by pre-entry experience? Does the effectiveness of these pro...
Article
Delivering quality customer service has emerged as a strategic imperative, one that is increasingly tied to a firm's information technology resources and capabilities. This paper presents an empirical study that examines the extent to which IT impacts customer service. More specifically, this study investigates the differential effects of various I...
Article
Full-text available
Debates continue to rage between those that argue that managers should maximize the present value of their firm's cash flows in making strategic choices and those that argue that, sometimes, the wealth maximizing interests of a firm's equity holders should be abandoned for the good of a firm's other stakeholders. This debate is addressed by proposi...
Article
Entrepreneurs looking to exploit market opportunities and create economic value must concern themselves with both value creation and value appropriation. In this context, entrepreneurs face an unusual challenge; they must accomplish these two tasks before the economic value of the market opportunity is known, even probabilistically. The purpose of...
Article
This chapter applies arguments advanced by Drnevich and Shanley (this volume) to the strategic leadership literature – an area of work where such multi-level analyses seem likely to be particularly appropriate. In an analysis of the relationship between managerial capabilities and firm performance, this chapter breaks from tradition in the strategi...
Article
Full-text available
While strategy scholars once thought that the resource-based view could not be tested directly by observing resources, recent work has dispelled this notion. While resources are difficult to measure, many clever scholars have been able to measure resource heterogeneity and performance.
Article
Full-text available
Empirical studies that account for the endogeneity of the diversification decision must also account for a firm's alternative uses for its free cash flow. This study examines dividends and stock repurchases in tandem with the firm's diversification decision and finds that the factors that lead a firm to diversify also make it more likely to pay a d...
Article
the 1 st ACAC conference, the 2003 Academy of Management and Strategic Management Society meetings and the 2 nd West Coast Symposium on Entrepreneurship. All remaining errors are ours.
Article
Executive Overview This article describes the Theory Z proposed by William Ouchi in his book published in 1981, “Theory Z: How American Business Can Meet the Japanese Challenge.” The author discusses how Ouchi's sociological approach differs from the management approaches of the 1960s and 1970s, as he outlines the new tools available to managers. O...
Article
Most scholarly work on trust recognizes its importance as part of a nonmarket form of governance in exchanges between firms. However, trust is only one such governance device that can be used; other devices such as reputation, bargaining power, and contracts can also be used to govern exchanges. This article empirically examines the relationships b...
Article
Why firms exist and how their boundaries should be drawn are central issues in several academic disciplines. The field of entrepreneurship continues to struggle with a theory of the firm. This paper suggests a theory of the entrepreneurial firm grounded in organizational economics and bounded by the rent generation and appropriation of entrepreneur...
Article
A growing body of empirical literature supports key assertions of the resource-based view. However, most of this work examines the impact of firm-specific resources on the overall performance of a firm. In this paper it is argued that, in some circumstances, adopting the effectiveness of business processes as a dependent variable may be more approp...
Chapter
The resource-based literature has indicated two general approaches available to the firm to obtaining resources for strategy implementation: that of building resources within the firm and that of acquiring resources from outside the firm. But existing research has not critically examined the implications of the two approaches for the potential of r...
Article
Resource-based theory (RBT) is a prime example of a theory that integrates a management perspective with an economics perspective. As such, its challenge is to keep its arguments logically consistent and clear, despite the risk of their becoming entangled, due to competing and possibly conflicting theoretical influences. We argue, in this paper, th...
Article
This article suggests a rationale for firm risk management that has been largely ignored in financial economics literature. It presents an argument for harnessing the influence of a company’s stakeholders who, whether as employees, suppliers or customers, make a valuable investment specific to the company. Such investments are crucial for a firm’s...
Article
This paper focuses on the role of kinship or family ties in entrepreneurial activities. We develop theoretical models of entrepreneurial market opportunity recognition and resource acquisition for family firms based upon social network theory. Building upon Granovetter’s (1973) distinction between strong and weak ties, we introduce family ties as a...
Article
The resource-based view can be positioned relative to at least three theoretical traditions: SCP-based theories of industry determinants of firm performance, neo-classical microeconomics, and evolutionary economics. In the 1991 article, only the first of these ways of positioning the resourcebased view is explored. This article briefly discusses so...
Article
This paper develops a model of information-acquisition decisions by firms that are competing in a "strategic factor market" (Barney 1986) to purchase a scarce resource whose value is unknown and differs across firms. The model builds on the argument that more accurate expectations about the firm-specific value of resources is, other than luck, the...
Article
At present, the resource-based view of the firm is perhaps the most influential framework for understanding strategic management. In this editor’s introduction, we briefly describe the contributions to knowledge provided by the commentaries and articles contained in this issue. In addition, we outline some additional areas of research wherein the r...
Article
Full-text available
At present, the resource-based view of the firm is perhaps the most influential framework for understanding strategic management. In this editor's introduction, we briefly describe the contribu-tions to knowledge provided by the commentaries and articles contained in this issue. In addition, we outline some additional areas of research wherein the...
Article
Alliances between entrepreneurial and large firms can create economic value. In many circumstances, however, much of that value is appropriated by the larger partner. In these situations, the performance and even long-term survival of entrepreneurial firms can be put at risk. This article describes the conditions under which the value created by al...
Article
Here I examine each of the major issues raised by Priem and Butler (this issue) about my 1991 article and subsequent resource-based research. While it turns out that Priem and Butler's direct criticisms of the 1991 article are unfounded, they do remind resource-based researchers of some important requirements of this kind of research. I also discus...
Article
Although managers cite human resources as a firm's most important asset, many organizational decisions do not reflect this belief. This paper uses the VRIO (value, rareness, imitability, and organization) framework to examine the role that the Human Resource (HR) function plays in developing a sustainable competitive advantage. We discuss why some...
Article
This paper investigates how a variety of conditions in place at the time of first-round funding can frame a new venture team's (NVT) perception of the fairness of its relations with its venture capitalists (VC). It assumes that a team's perception of whether its treatment by its VC is procedurally just will affect a team's receptivity to VC advice....
Article
Investigates the differences in decision-making processes used by managers in large organizations and entrepreneurs. These differences are examined with respect to two biases and heuristics: overconfidence and representativeness. Overconfidence is defined as overestimating the probability of being right, while representativeness is defined as the t...
Article
This article is for venture capitalists (VCs) and managers belonging to a new venture team (NVT) who are interested in understanding factors that lead to NVT dismissal. Because dismissals can be a costly and ineffective way to improve venture performance, it is in a VCs interest to know when to avoid funding ventures that are likely to be impacted...
Article
Interest in the resource-based view of the firm continues to grow in the field of business policy and strategy. Recently, most of this interest seems to have been focused on understanding the empirical implications of this theory and especially on how a firm's resources and capabilities can affect its performance. Evaluating the empirical implicati...
Article
This paper presents a theory-based rationale that new venture team managers may utilize to reduce the cost of monitoring their venture. Because monitoring is costly and is eventually charged back to the venture, the present analysis suggests that there is at least one way for managers to protect their equity stake from such assessments. Drawing on...
Article
Prior research examining whether venture capital firms (VCs) add value to the ventures in their portfolios by advising their new venture teams (NVTs) has led to inconclusive results. Whereas most prior studies have assumed that NVTs value VC assistance, this study tests for the possibility that they differentially value two different types of VC as...
Article
The concept of IT as a powerful competitive weapon has been strongly emphasized in the literature, yet the sustainability of the competitive advantage provided by IT applications is not well-explained. This work discusses the resource-based theory as a means of analyzing sustainability and develops a model founded on this resource-based view of the...

Network

Cited By