Multinational Enterprise and Economic Analysis
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...Unique assets may take the form of human capital (Becker, 1964), physical capital (Klein, Crawford and Alchian, 1978), legal capital (Alchian, 1984; Barzel, 1989), organizational capital and experience (Huff, 1982; Prahalad and Bettis, 1986; Spender, 1989), and intangible capital (Caves, 1982)....
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...R&D expenditure is a reasonably effective proxy for capturing an enterprise's endowment of unique knowledge possessed by individuals and teams within the organization (Caves, 1982)....
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...The result of these market imperfections is that recognition, disclosure, team organization, monitoring and dissipation costs are incurred in contractual exchange (Caves, 1982; Teece, 1982)....
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