Perspectives on management theory’s application in the internet of things research

The growing use of the internet of things (IoT) has provided businesses with a new opportunity. This study performed a systematic literature review and analyzed 179 peer-reviewed empirical studies using IoT technology to uncover prone theories in IoT implementation in business. The findings showed that Resource Dependence Theory, Game Theory, and Contingency Theory are the most extensively employed in research to understand better how businesses interact with their surrounding business environments. Furthermore, while Stakeholder Theory was employed in IoT research to understand how technology supports the improvement of the business environment, other theories such as Resource-Based View and Dynamic Capability theories have been used in prior studies to comprehend IoT capabilities. The theoretical and practical contributions are discussed.