This study analyzed the impact of Higher-order resources on profit sustainability for domestic companies using a mathematical statistical model. Higher-order resources refer to resources that do not directly affect profits but influence other resources that directly contribute to profits. As a result of analysis using 30 years of actual data from more than 650 domestic companies, the average duration of competitive advantage including high-order resources was found to be about twice as long as the period suggested by the autoregressive model excluding high-order resources. Through this, if companies want to earn more profits over a long period of time than their competitors, they must not only possess resources that are more valuable, rare, difficult to imitate, and non-substitutable compared to their competitors, but also that higher-order resources can contribute to changes in these resources over time. It was confirmed that it must lead the long-term profit difference. High-level resources include strategic planning, mergers and acquisitions (M&A) capabilities, and good forecasting.

Organisations encourage shareholders to invest in the place and the place audience relies on place reputation when making investment decisions and product choices. Given the significance of the place branding and place heritage and building upon the evidence discussed, this research is one of the first attempts at collecting empirical evidence that seeks to prove that a favourable place branding and place branding heritage influence a favourable place image and favourable place reputation. This study aims to explore employees and visitors/consumers’ perceptions and practices regarding the place branding and the main factors that influence place branding suitability at a visitor/consumer/employee level. By achieving these objectives, it is expected that the investigation will add to current knowledge about the place branding and provide practical insights to managers and decision-makers. Based on the research objectives of this study, three overall research questions are: (i) What are the factors that influence place branding favourability, (ii) What are the main influences of place heritage favourability on favourable place branding?, and (iii) What are the main influences of place branding favourability on favourable place image and favourable place reputation? This research addresses the general goals: first, it explores the concept of the place branding and its dimensions. Second, it identifies the factors that are most likely to have a significance influence on the favourable place branding (antecedents of the favourable place branding). Third, it develops and empirically assesses a model concerning the relationships between favourable place branding, its antecedents and its consequences. Fourth, it examines the influence of the favourable place heritage on place branding. Finally, it investigates the impact of the favourable place branding on favourable place image and favourable place reputation (consequences of the favourable place branding). Despite the potentially significant role of the favourable place branding, little empirical research has examined how the favourable place branding exposes corporations and their members to far greater scrutiny. Creating a employee/consumer/visitor level model based on attribution theory demonstrates the issues retailers face in relation to place branding: (i) the association between the place branding concept and its elements that foster or discourage; (ii) its benefits or outcome for place; (iii) the relationships between other theoretically and empirically identified variables. In order to fill this gap in the academic literature, prior studies and the insights gained from current field research were reviewed. The model and various propositions developed thereafter, merit further study.