A Theory Of The Firm In Economic Space
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Author | : Daniel F. Spulber |
Publisher | : Cambridge University Press |
Total Pages | : 542 |
Release | : 2009-04-13 |
Genre | : Business & Economics |
ISBN | : 0521517389 |
The Theory of the Firm presents an innovative general analysis of the economics of the firm.
Author | : David J. Teece |
Publisher | : Edward Elgar Publishing |
Total Pages | : 686 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : |
These papers by Teece cover the theory of the firm and its implications for economic performance, as they concern managers and policy-makers. Key topics addressed include: the nature of the firm and dynamic capabilities; diversification and vertical integration; and joint ventures.
Author | : Michael Dietrich |
Publisher | : Edward Elgar Publishing |
Total Pages | : 607 |
Release | : 2012-01-01 |
Genre | : Business & Economics |
ISBN | : 1781002401 |
This unique Handbook explores both the economics of the firm and the theory of the firm, two areas which are traditionally treated separately in the literature. On the one hand, the former refers to the structure, organization and boundaries of the firm, while the latter is devoted to the analysis of behaviours and strategies in particular market contexts. the novel concept underpinning this authoritative volume is that these two areas closely interact, and that a framework must be articulated in order to illustrate how linkages can be created. This interpretative framework is comprehensively developed in the editors' introduction, and the expert contributors – more than fifty academics of renowned authority – further elaborate on the linkages in the seven comprehensive sections that follow, encompassing: background; equilibrium and new institutional theories; the multinational firm; dynamic approaches to the firm; modern issues; firms' strategies; and economic policy and the firm. Bridging economics and theory of the firm, and providing both technical and institutional perspectives on real corporations, this path-breaking Handbook will prove an invaluable resource for academics, researchers and students in the fields of economics, heterodox economics, business and management, and industrial organization.
Author | : Michael C. Jensen |
Publisher | : Harvard University Press |
Total Pages | : 342 |
Release | : 2003-09-30 |
Genre | : Business & Economics |
ISBN | : 9780674012295 |
This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's money, and would create inefficiencies. The implicit denial of this proposition is the fallacy of the so-called stakeholder theory of the corporation, which argues that corporations should be run in the interests of all stakeholders. This theory offers no account of how conflicts between different stakeholders are to be resolved, and gives managers no principle on which to base decisions, except to follow their own preferences. In practice, shareholders delegate their control rights to a board of directors, who hire, fire, and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded $1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.
Author | : Oliver E. Williamson |
Publisher | : Oxford University Press, USA |
Total Pages | : 260 |
Release | : 1993 |
Genre | : Business & Economics |
ISBN | : 9780195083569 |
This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
Author | : Günter Fandel |
Publisher | : Springer Science & Business Media |
Total Pages | : 651 |
Release | : 2013-03-09 |
Genre | : Business & Economics |
ISBN | : 3662087995 |
The authors analyse the New Economy from a scientific point of view. The success and the failure of enterprises of the new economy form a challenge to the modern business management and to the theory of the firm. This conference transcript answers the question in which way well-established concepts of the theory of the firm should be modified or new approaches should be created, in order to run enterprises of the new economy successfully. The discussion includes various fields of the theory of the firm and is therefore divided into the six essential disciplines of economic research, which are Production and Procurement, Finance, Marketing, Accounting, Human Resource Management and Economic Organization and Corporate Governance. The international orientation of the book addresses the world-wide scientific community.
Author | : Melvin L. Greenhut |
Publisher | : |
Total Pages | : 389 |
Release | : 1974 |
Genre | : |
ISBN | : |
Author | : Joseph T. Mahoney |
Publisher | : SAGE |
Total Pages | : 273 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : 1412905435 |
The theoretical foundations of management strategy are identified and outlined in this text. Five theories are considered in the light of questions about how organisations operate efficiently, cost minimization, wealth creation, individual self-interest, and continued growth.
Author | : Richard R. Nelson |
Publisher | : Harvard University Press |
Total Pages | : 456 |
Release | : 1985-10-15 |
Genre | : Business & Economics |
ISBN | : 9780674041431 |
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Author | : Mark Casson |
Publisher | : Springer |
Total Pages | : 184 |
Release | : 2016-09-22 |
Genre | : Business & Economics |
ISBN | : 3319322974 |
Demonstrating why economic modelling is so important in understanding international business, this stimulating and highly original book sets out a new and exciting research agenda in international business studies. The author explains what economic models are, how they are constructed and the way in which they can be used. It illustrates how models clarify important issues in international business – explaining empirical anomalies, analyzing strategies and evaluating government policies towards multinational firms. There are detailed discussions of monopoly and competition in the global economy; the international division of labour; supply chain coordination; and the strategic implications of sunk costs in R&D. Based on this discussion, the book proposes a radical reformulation of the theory of the firm as applied to international business.