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Please use this identifier to cite or link to this item: http://dspace.lib.cranfield.ac.uk/handle/1826/4317

Document Type: Article
Title: Accounting for competitive advantage: The resource-based view of the firm and the labour theory of value
Authors: Bowman, Cliff
Toms, S
Issue Date: 2010
Citation: C. Bowman, S. Toms, Accounting for competitive advantage: The resource-based view of the firm and the labour theory of value, Critical Perspectives on Accounting, Volume 21, Issue 3, The Contours of Critical Accounting, March 2010, Pages 183-194
Abstract: This article uses accounting concepts to assist the field of strategic management in its search for a theory of value, competitive advantage and superior profitability. Specifically, it argues that the resource-based view of the firm requires a labour theory of value creation. Using the circuit of capital as an organizing framework this article integrates RBV and Marx's value theory, by introducing the notion of value as socially necessary labour time, into the analysis of resource-based advantage. This enables us to identify the impact of particular sources of competitive advantage as they become diffused through an industry. Some resource-based advantages, when eventually imitated lead to an overall reduction in industry profitability, and other advantages lead to increases in industry average profitability.
URI: http://dx.doi.org/10.1016/j.cpa.2008.09.010
Appears in Collections:Staff publications - School of Management

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