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The paper deals with development of a general theory of the firm. It discusses the demand for such a theory, reviews existing approaches to its generalization, and offers a new variant of general theory of the firm based on the contract theory. The theory is based on minimization of...
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Transaction Costs Theory has been considered the 'new orthodoxy' in the theory of the firm, being this the very same reason for wide criticism by different schools of economic thought. However, there seems to be signs of complementarity between TCT and evolutionary approaches to the firm. Some...
Persistent link: https://www.econbiz.de/10005412956
This paper studies the Hart-Grossmn-Moore property rights approach to the theory of the firm, under the alternative assumption that bargaining over gains from trade is modelled strategically, rather than axiomatically. With strategic bargaining, the disagreement payoffs (payoffs to the two...
Persistent link: https://www.econbiz.de/10008852263
Regression des effektiven Zinssatzes, der sowohl den nominalen Zinssatz als auch zusätzliche Transaktionskosten umfasst, werden … Zinssubventionierung durch gesteigerte Transaktionskosten und adverse Selektion von Kreditnehmern stark verringert wird. Allerdings führt …
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Schätzung der internen Transaktionskosten mit Hilfe von beobachteten Outputmengen und -preisen. Das empirische Modell ist ein …, dass die internen Transaktionskosten extrem hoch sind und nicht nur zu signifikanten allokativen Verzerrungen führen …, sondern darüber hinaus den strukturellen Wandel behindern. Die Verringerung der internen Transaktionskosten sollte von daher …
Persistent link: https://www.econbiz.de/10011142858
se’s 1937 paper on “The Nature of the Firm” formed the basis of the transaction-cost and internalization theories of transnational enterprises in the 1970s-1990s. These emphasized the problem of firms transferring intangible assets across national borders. Newer theories of the firm adopt...
Persistent link: https://www.econbiz.de/10005800074
To quote from page xiii: "This volume is intended to accomplish two main objectives. First, it aims to present a fairly detailed, but broadly based, survey of the history and present day role of multinational enterprises (MNEs) in the global economy. Second, the monograph seeks to couch its...
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