The objective of this article is to reconceptualize understanding of the economic and spatial processes of corporate restructuring and market exit. We ask what economic logic explains plant closure and firms’ exit from industries, and develop a comprehensive perspective on the nature of the...

In this paper we explain why the modern corporation may persist with decentralised system plants differentiated by the vintage of capital and the style of management. Here, our goal is to show how and why firms are, at once, structured by the inherited configuration of capital, and reproduce...