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Author : Daniel F. Spulber
Publisher : Cambridge University Press
Page : 542 pages
File Size : 20,48 MB
Release : 2009-04-13
Category : Business & Economics
ISBN : 0521517389
The Theory of the Firm presents an innovative general analysis of the economics of the firm.
Author : Michael Taylor
Publisher : OUP Oxford
Page : 288 pages
File Size : 35,58 MB
Release : 2006-12-21
Category : Business & Economics
ISBN : 0191514624
Firms are at the very heart of modern day life. They come in a seemingly infinite variety - from transnationals to small firm, from corporations to branch plants, to subsidiaries and joint ventures, from subcontractors to franchisees, from sole proprietorships to partnerships, from manufacturers to service providers and retailers. For the most part we view them as the creators, destroyers, and repositories of jobs - the creators and destroyers of people's livelihoods, lives, and dreams. But, deciding just what a firm is is neither a simple nor a straightforward task. Against a background of the dynamic complexity and plurality that business forms (and firms) can assume, there is a constant search within academic research for the processes that create and maintain both enterprise and enterprises in capitalist societies: a search for a theory of the firm. This book addresses some of the gaps in the current state of the theory of the firm from an economic geography perspective: issues around the boundaries of the firm; the collective agency of the firm; the political firm, financial markets, and the state; and the firm in place.
Author : Paul Walker
Publisher : Taylor & Francis
Page : 223 pages
File Size : 18,60 MB
Release : 2016-09-13
Category : Business & Economics
ISBN : 1317277031
Firms are a ubiquitous feature of the economic landscape, with much of the activity undertaken within an economy taking place within their boundaries. Given the size of the contribution made by firms to economic activity, employment and growth, having a theoretical understanding of the nature and structure of firms is crucial for understanding how an economy functions. The Theory of the Firm firstly offers a brief overview of the past, consisting of a concise discussion of the classical view of production, followed by an outline of the development of the neoclassical - or ‘textbook’ - approach to firm level production. Secondly, the ‘present’ of the theory of the firm is discussed in three sections. The first section considers the post-1970 theory of the firm literature per se, while the second section scrutinises the relationship between the three most prominent of the modern sets of theories: the reference point, property rights and transaction cost approaches. The third section looks at the theory of privatisation. The unique aspects of this book includes its discussions of the post-1970 contributions to the theory of the firm; the integration of the theory of the entrepreneur with the theory of the firm; and the theory of privatisation. This volume offers an intuitive introduction to the theories of the firm as well as simple formal models of the most important contributions to the literature. It also outlines the historical evolution of the traditional and modern theories of the firm. This book is of great interest to those who study history of economic thought, industrial economics and organizational studies.
Author : Lawrence J. Gitman
Publisher :
Page : 732 pages
File Size : 27,36 MB
Release : 2018
Category : Business
ISBN : 9781947172555
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.
Author : Divyam Agarwal
Publisher : PARK
Page : 62 pages
File Size : 43,88 MB
Release : 2021-09-14
Category : Business & Economics
ISBN :
Beginning a business includes arranging, settling on key monetary choices, and completing a series of legal activities.
Author : John Roberts
Publisher : Oxford University Press
Page : 336 pages
File Size : 34,81 MB
Release : 2007-09-06
Category : Business & Economics
ISBN : 0198293755
Business firms around the world are experimenting with new organizational designs, changing their formal architectures, their routines and processes, and their corporate cultures as they seek to improve their current performance and their growth prospects. In the process they are changing the scope of their business operations, redrawing their organization charts, redefining the allocation of decision-making authority and responsibility, revamping the mechanisms for motivating and rewarding people, reconsidering which activities to conduct in-house and which to out-source, redesigning their information systems, and seeking to alter the shared beliefs, values and norms that their people hold. In this book, John Roberts argues that there are predictable, necessary relationships among these changes that will improve performance and growth. The organizations that are successful will establish patterns of fit among the elements of their organizational designs, their competitive strategies and the external environment in which they operate and will go about this in a holistic manner. The Modern Firm develops powerful conceptual frameworks for analyzing the interrelations between organizational design features, competitive strategy and the business environment. Written in a non-technical language, the book is nevertheless based on rigorous modeling and draws on numerous examples from eighteenth century fur trading companies to such modern firms such as BP and Nokia. Finally the book explores why these developments are happening now, pointing to the increase in global competition and changes in technology. Written by one of the world's leading economists and experts on business strategy and organization, The Modern Firm provides new insights into the changes going on in business today and will be of interest to academics, students and managers alike.
Author : Yuri Biondi
Publisher : Routledge
Page : 400 pages
File Size : 30,8 MB
Release : 2007-04-12
Category : Business & Economics
ISBN : 1134122128
The book enhances current economic understanding of the firm as an institution and an organization, looking beyond the narrow boundaries of neoclassical economics to an interdisciplinary approach based on accounting and law as well as economics itself. It represents the first synthesis of the authors' research work on the subject and provides the groundwork for the development of a comprehensive framework centred on the firm as an entity. The volume starts with a synthesis and a critique of the current state of the different economic theories of the firm and further develops them through new insights and neglected lessons from different traditions of thought. The economic theory and analysis of the firm is given new life here by looking at the firm as a whole: as an institution and an organization, which has special functions and a distinct role in the economy and society.
Author : Oliver E. Williamson
Publisher : Oxford University Press, USA
Page : 260 pages
File Size : 50,57 MB
Release : 1993
Category : 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 : Michael C. Jensen
Publisher : Harvard University Press
Page : 342 pages
File Size : 21,49 MB
Release : 2003-09-30
Category : 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 : Wm. Dennis Huber
Publisher : Routledge
Page : 188 pages
File Size : 39,57 MB
Release : 2020-04-08
Category : Business & Economics
ISBN : 1000061841
Dozens of judicial opinions have held that shareholders own corporations, that directors are agents of shareholders, and even that directors are trustees of shareholders’ property. Yet, until now, it has never been proven. These doctrines rest on unsubstantiated assumptions. In this book the author performs a rigorous, systematic analysis of common law, contract law, property law, agency law, partnership law, trust law, and corporate statutory law using judicial rulings that prove shareholders do not own corporations, that there is no separation of ownership and control, directors are not agents of shareholders, and shareholders are not investors in corporations. Furthermore, the author proves the theory of the firm, which is founded on the separation of ownership and control and directors as agents of shareholders, promotes an agenda that wilfully ignores fundamental property law and agency law. However, since shareholders do not own the corporation, and directors are not agents of shareholders, the theory of the firm collapses. The book corrects decades of confusion and misguided research in corporate law and the economic theory of the firm and will allow readers to understand how property law, agency law, and economics contradict each other when applied to corporate law. It will appeal to researchers and upper-level and graduate students in economics, finance, accounting, law, and sociology, as well as attorneys and accountants.