Purpose – This paper aims to argue that the principal components of the Resource‐Based View (RBV) as a theory of sustained competitive advantage are not a sufficient basis for a complete and consistent theory of firm behaviour. Two missing elements are value theory and accountability...

Recent business history has been much concerned with the relationship between organization structure and competitive advantage. Using an archetypal case, the decline of the export-led British cotton industry, the contention that the vertically integrated, professionally managed firm has been an...

The paper argues that by examining accounting’s technical/objective and relational/social characteristics simultaneously, a deeper understanding can be gained of accounting transition at key stages of economic development. Using the case of Boulton & Watt (B&W), a pioneering firm of the...

type="main" <p>Accounting-based risk management (ABRM) is a theoretically consistent and practical tool for calculating the cost of capital from underlying financial ratios. In this paper, a sample of ABRM-generated discount factors is used to generate risk-adjusted returns, which are compared to...</p>

This unique Handbook explores both the economics of the firm and the theory of the firm, two areas which are traditionally treated separately in the literature. On the one hand, the former refers to the structure, organization and boundaries of the firm, while the latter is devoted to the...

Purpose The purpose of this paper is to examine the determinants of the volume of environmental disclosures and their quality, with particular focus on the role of audit committees (ACs) and the effects of the Smith report recommendations for the UK Corporate Governance Code....