The Transaction Cost Theory of the (Multinational) Firm - Reply

The thesis by HALLWOOD [1994] is compactly restated, showing that most of Love's points are either already encompassed, or, are useful extensions of it. Love's idea that production cost differences between firms are necessarily caused by transaction costs is rejected, as differences between firms in the capital valuation of firm-specific knowledge may be due to uncertainty.

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Year of publication:	1997
Authors:	Hallwood, C. Paul
Published in:	Journal of Institutional and Theoretical Economics (JITE). - ISSN 0932-4569. - Vol. 153.1997, 4, p. 683-683

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Type of publication:	Article
Classification:	D23 - Organizational Behavior; Transaction Costs; Property Rights ; F23 - Multinational Firms; International Business
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005823394