Abstract

Resource-based theory has identified strategic resources based on the presence of characteristics which include value, rarity, inimitability, and non-substitutability. Each dimension has largely been treated as dichotomous and independent. As a result, Resource-based theory has failed to account for the continuous and interrelated nature of resource characteristics. We advance theory based on the degree of specific resource characteristics and reveal tensions between them. Specifically, we examine how the level of resource inimitability can negatively impact the value of strategic human capital. We test our findings in the under-researched impoverished firm context using a unique sample of Indian slum households and firms.

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