Conceptual underpinnings: theory selection in strategic management research

Abstract

Purpose

Theories are crucial for addressing research questions and advancing the boundaries of knowledge. However, in the field of strategic management, the existence of diverse schools of thought from various disciplines, including economics, politics, and sociology, poses significant challenges for researchers seeking to develop theories for argumentation and theorization. In this study, we have conceptualized a novel approach to selecting an appropriate theory for addressing specific research questions.

Design/methodology/approach

Thought experiment, disciplined imagination, and a conceptual examination of a diverse set of theories.

Findings

Because the central focus in the field of strategic management revolves around how firms achieve sustainable high performance, a research question should initially clarify the fundamental phenomenological issues it aims to address. Subsequently, the process of problematization should identify the ontological assumptions and premises that establish a connection between the research question and existing theories. Finally, the identification and abstraction of rhetorical concepts derived from these assumptions and premises lead to theory selection criteria, namely connectedness, reliability, parsimoniousness, and falsifiability.

Research limitations/implications

Although we believe that our model for theory selection is generalizable to a wide range of management disciplines, we have primarily focused on its application in the field of strategic management. Future work could validate and further explore the applicability and effectiveness of this model in selecting appropriate theories for conceptual development in other domains.

Originality/value

While many researchers have proposed methods for writing theoretical papers, few have provided suggestions specifically focused on theory selection. This paper stands out as one of the few that not only attempts to address this gap but successfully develops a comprehensive model for theory selection.

Citation

Hou, T. and Li, J.J. (2024), "Conceptual underpinnings: theory selection in strategic management research", Management Decision, Vol. 62 No. 12, pp. 3761-3781. https://doi.org/10.1108/MD-08-2023-1423