When management theory meets economics : towards innovation and a dynamic growth model of the firm

Lange, Thomas (2006) When management theory meets economics : towards innovation and a dynamic growth model of the firm. Journal of Interdisciplinary Economics, 17 (3). pp. 255-267. ISSN 0260-1079

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Abstract

It has been argued that the dynamic effects of economic development through innovation are poorly understood by mainstream economic theory. This paper provides a conceptual and heuristic framework that it intended to move us closer to a dynamic growth model of the firm in a high-tech, knowledge based economy. A Cobb-Douglas production function with components of high tech capital and skills and with assumptions on the origin of innovative processes is being introduced to provide structure to the arguments. By drawing on the strategic groundwork of management theorists Moran and Ghoshal, it proceeds by applying an "appreciative" hypothesis of economic development (that is, a descriptive tool rather than a formal model) to test a Schumpeterian process. It also provides a response to the call for a broadened agenda to include a greater degree of attention to the selection (and de-selection) mechanism that influences the use of resources. these issues and others are investigated and some conjectures offered.

Item Type: Article
Research Areas: A. > Business School > International Management and Innovation
Item ID: 10568
Depositing User: Thomas Lange
Date Deposited: 24 Apr 2013 10:46
Last Modified: 01 Apr 2019 14:17
URI: https://eprints.mdx.ac.uk/id/eprint/10568

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