This is a revised edition of Walker (2017). New sections or subsections have been added on the X-inefficiency model, the division of labour and the firm - both pre and post-1970, ownership of the firm and the human capital based firm. Additions have been made to sections on entrepreneurship, the...

Setting out to dispel the argument that case study research lacks the science, theory, and therefore validity of other forms of research, Evert Gummesson combines many decades of experience as both a renowned scholar and a reflective practitioner to effectively bridge the divide between case...

This paper disentangles the theory of the firm by Jensen and Meckling (1976). Their producer theory is actually a consumer one. However, both their budget constraint and indifference curve are void. This makes their model completely empty. The corrected utility maximization model restores the...