Authors: Nikolaos Theriou, Vassilis Aggelidis, Georgios Theriou
The purpose of this paper is to explore the relationship between the two most important perspectives of the firm, the RBV and the KBV, by examining the relative impact of firm-specific assets and knowledge capabilities on the firm’s competitive advantage. A composite model is proposed which elaborates upon both perspectives causal logic with respect to the conditions relevant for the firm success. Empirical findings suggest that firm-specific assets and knowledge capabilities effects are both important determinants of the firms’ performance. Moreover, the findings suggest that knowledge capabilities behave like dynamic capabilities leading to the continuous improvement-renewal of the firm-specific resources and capabilities which, in turn, affect performance directly or indirectly through their effect on strategy configuration.
Key Words: Strategic Management, Resource-Based View, Knowledge-Based View, Knowledge Management, Structural Equation Modelling, Confirmatory Factor Analysis
JEL Classification: D73, K12
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