Ownership Competence

Medientyp: E-Book

Titel: Ownership Competence

Beteiligte: Foss, Nicolai J. [Verfasser:in]; Klein, Peter G. [Sonstige Person, Familie und Körperschaft]; Lien, Lasse B. [Sonstige Person, Familie und Körperschaft]; Zellweger, Thomas [Sonstige Person, Familie und Körperschaft]; Zenger, Todd [Sonstige Person, Familie und Körperschaft]

Erschienen: [S.l.]: SSRN, [2020]

Umfang: 1 Online-Ressource (42 p)

Sprache: Englisch

DOI: 10.2139/ssrn.3653373

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Anmerkungen: In: Strategic Management Journal, Forthcoming
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 1, 2020 erstellt

Beschreibung: Ownership is fundamental to firm strategy, organization, and governance. Standard ownership concepts—mainly derived from agency and incomplete contracting theories—focus on its incentive effects. However, these concepts and theories neglect ownership's role as an instrument to match judgment about resource use and governance with the firm's evolving environment under uncertainty. We develop the concept of ownership competence—the skill with which ownership is used as an instrument to create value—and decompose it into matching competence (what to own), governance competence (how to own), and timing competence (when to own). We describe how property rights of use, appropriation, and transfer relate to the three ownership competences and show how our theory offers a fresh perspective into the role of ownership for value generation

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