When is new value and knowledge created?

[German title: Wann entsteht neuer Wert und Wissen?]

The Knowledge-Based View, Nested Heterogeneity, and New Value Creation: Philosophical Considerations on the Locus of Knowledge
Teppo Felin  and William S. Hesterly 
The Academy of Management Review (AMR) 
Issue: Volume 32, Number 1 / 2007 
Pages: 195 – 218 

Abstract: At what level is new value created, or, put differently, what is the locus of knowledge? While knowledge and capabilities-based researchers argue that the locus of new value and knowledge lies at the firm level, we challenge this conceptualization and theoretically build toward more individualist foundations. We explicate the underlying philosophical assumptions of extant knowledge and capabilities-based work and discuss attributional problems. Nested (individual-level, a priori) heterogeneity may provide a better explanation of collective heterogeneity.

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© 2006 Academy of Management. All rights reserved.

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