Registering originative business contracts allows entrepreneurs and creditors to choose, and courts to enforce market-friendly “contract” rules that protect innocent third parties when adjudicating disputes on subsequent contracts. This reduces information asymmetry for third parties, which...

Purpose – The purpose of this paper is to attempt a justification as to why a profit-making firm may be viewed as a function of its nucleus expertise and a risky portfolio of deals. Design/methodology/approach – This is a theoretical paper relying on mathematics, graphs and verbal arguments...

Purpose – The purpose of this paper is to demonstrate the usefulness of referring to a theory of the firm as a way to strongly improve internal consistency in both research and practice. To this end, the paper explores how a theory-of-the-firm perspective can assist in a consistent analysis of...

Purpose – The purpose of the paper is to offer some advancing in the understanding of the market-to-book value (MBV) gap (or ratio) as the symptom and the metrics for intellectual capital (IC) value, and to discuss the major criticisms against it. The original contribution of the paper lies in...

Purpose – The purpose of this paper is to argue for the need to reconcile managerial and economic approaches of the firm. Strategic management seems to be the perfect playground for this. Design/methodology/approach – The paper shows many divergences between the economic and managerial...

Purpose – The paper was written with the intention of drawing attention to a fundamental dysfunction that is widespread in large organizations today – a myopic focus on maximizing shareholder value. Design/methodology/approach – The paper identifies the source of the dysfunction, the...