Final answer:
The resource-based model of above-average returns is tied to a firm's ability to leverage its unique resources within an attractive industry. Of the given statements, only the first correctly relates to this model by focusing on the firm's resources and the exploitation of industry opportunities.
Step-by-step explanation:
The resource-based model of above-average returns suggests that an attractive industry is one where firms can utilize their unique resources and capabilities to exploit opportunities.
Statement a is correct as it emphasizes the alignment between a firm's resources and the opportunities within an industry.
Statement b, while true in the context of firms and shareholders, does not directly relate to the resource-based model of returns.
Statement c, which describes the selection of an industry based solely on profit potential, does not accurately reflect the resource-based model, which also considers the firm's resources and capabilities.
Lastly, statement d is incorrect because the resource-based view was largely developed and gained prominence after the 1980s.
In the context of raising financial capital, firms are faced with imperfect information, where there is an asymmetry between what internal managers know about the firm's future profitability and what external investors are aware of.
This concept is critical in understanding how firms decide amongst different sources of financial capital but is not directly related to the resource-based model described in the question.