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Extending Resource-Based Logic: Applying The Resource-Investment Concept To The Firm From A Payments Perspective., Angelina Zubac, Graham Hubbard, Lester Johnson

Lester Johnson

This article argues that resource-based logic can be extended by conceptualizing the firm in resource investment terms. It establishes that investing in resources is essentially a bilateral process involving managers and the owners of capital and that all resource-investments are necessarily made within an institutional superstructure. As a result, the capital invested into the firm is necessarily highly structured. These ideas are developed in this article from a payments perspective because this perspective allows scholars to explore the ex ante investment decisions that allow firms to grow, and to focus on firms’ resource payments, which can be considered a proxy …