Economic analysis of human capital leads to a somewhat different question than that addressed by other management research on external succession: do differences between external successors in the transferability of their human capital affect firm performance, and if so, how? By comparing...

Tacit knowledge and cumulative learning underlie an evolutionary theory of business firm development and strategy. As one test case of the theory, this study examines firms' applied research and development activities. Evolutionary theory suggests that firms within an industry will tend both to...