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Investments in physical capital, relationship-specificity, and the property rights approach
Schmitz, Patrick W. - In: Economics Letters 119 (2013) 3, pp. 336-339
We reconsider the property rights approach to the theory of the firm based on incomplete contracts. We explore the implications of different degrees of relationship-specificity when there are two parties, A and B, who can make investments in physical capital (instead of human capital). If...
Persistent link: https://www.econbiz.de/10010664120
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Investments in physical capital, relationship-specificity, and the property rights approach
Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2013
We reconsider the property rights approach to the theory of the firm based on incomplete contracts. We explore the implications of different degrees of relationship-specificity when there are two parties, A and B, who can make investments in physical capital (instead of human capital). If...
Persistent link: https://www.econbiz.de/10011083975
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The new institutional economics - main theories
Obińska-Wajda, Emilia - In: E-Finanse : finansowy kwartalnik internetowy 12 (2016) 1, pp. 78-85
The aim of this arti cle is to show that the New Insti tuti onal Economics is an interdisciplinary stream combining … economics, law, organizati on theory, politi cal sciences, sociology, and anthropology. The main theories which are part of the … New Insti tuti onal Economics are: Agency Theory, Property Rights Theory and Transaction Costs Theory. The basic …
Persistent link: https://www.econbiz.de/10011539833
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The firm versus the market : dehomogenizing the transaction cost theories of Coase and Williamson
Bylund, Per L. - In: Strategic management review : SMR 2 (2021) 1, pp. 79-118
Persistent link: https://www.econbiz.de/10013457792
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Digital platforms and the nature of the firm
Baronian, Laurent - In: Journal of economic issues 54 (2020) 1, pp. 214-232
Persistent link: https://www.econbiz.de/10012415752
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Theories of the (state-owned) firm
Peng, Mike W.; Bruton, Garry D.; Stan, Ciprian V.; … - In: Asia Pacific journal of management : APJM ; a … 33 (2016) 2, pp. 239-317
Persistent link: https://www.econbiz.de/10011583792
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The extent of the firm
Histen, M. J. - In: Evolutionary and institutional economics review 19 (2022) 2, pp. 545-567
Persistent link: https://www.econbiz.de/10013433351
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A note on alternative "theories of the firm"
Spender, J.-C. - In: Alternative theories of the firm, (pp. 23-55). 2022
Persistent link: https://www.econbiz.de/10014475880
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Transaction costs and the property rights approach to the theory of the firm
Muller, Daniel; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2014
The standard property rights approach is focused on ex ante investment incentives, while there are no transaction costs that might restrain ex post negotiations. We explore the implications of such transaction costs. Prominent conclusions of the property rights theory may be overturned: A party...
Persistent link: https://www.econbiz.de/10011084198
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Information Gathering, Transaction Costs and the Property Rights Approach
Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2005
provide ex ante investment incentives, while bargaining is ex post efficient. In contrast, transaction cost economics …
Persistent link: https://www.econbiz.de/10005067623