Asset stock accumulation and sustainability of competitive advantage

@article{Dierickx1989AssetSA,
  title={Asset stock accumulation and sustainability of competitive advantage},
  author={Ingemar Dierickx and Karel Cool},
  journal={Management Science},
  year={1989},
  volume={35},
  pages={1504-1511}
}
Given incomplete factor markets, appropriate time paths of flow variables must be chosen to build required stocks of assets. That is, critical resources are accumulated rather than acquired in "strategic factor markets" Barney [Barney, J. 1986. Strategic factor markets: Expectations, luck, and business strategy. Management Sci. October 1231-1241.]. Sustainability of a firm's asset position hinges on how easily assets can be substituted or imitated. Imitability is linked to the characteristics… Expand
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