This paper shows how idiosyncratic resources can be the basis of sustained profitability and persistent heterogeneity under competitive conditions: Generic inputs purchased in the market become idiosyncratic resources by investments in customization. Analytically, we show how heterogeneous firms...

Management scholars have sought to answer the question: is there a financial payoff for ad-dressing ecological and social issues? We move beyond this question and include a time com-ponent for corporate financial performance (CFP) and a firm’s innovativeness in order to ask: when does it pay?...

Man kann den Kuchen nicht essen und ihn behalten. So etwa lauten Definitionen der Ökonomie als Wissenschaft in einschlägigen Lehrbüchern. Sie formulieren es nur etwas anders: Ökonomik sei die Wissenschaft vom Umgang mit knappen Ressourcen. Die sogenannte Wissensökonomie ist darin kaum noch...

In the context of persisting sustainability challenges in the Global Cocoa-Chocolate Chain (GCCC), sustainability certification gained momentum as a major industry response. While much research has been undertaking regarding effects of certification schemes on farming practices and farmers'...