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Building on the transaction cost theory of the for-profit firm, the article argues that the transaction cost-economizing role of the nonprofit firm has two distinct dimensions. One of them consists of reducing the cost of searching for, processing, and communicating information and the other...
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literature to make the case for the tendency of social capital resources of agricultural cooperatives in the Western world to …-making calculus. Cooperatives are shown to present one of the channels through which this codification may be possible; namely, the … codification effect of cooperatives enables the incorporation of a multitude of mutual self-help activities into the economic …
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Agafonow's article locates the role of social enterprises in devolving value through output maximizing behavior. This short paper embeds Agafonow's argument in the societal and institutional context by building upon Luhmann's social systems theory. According to Luhmann, the functional system of...
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