This article connects theory of learning with theory of governance, in the context of inter-firm relations. It recognizes fundamental criticism of transaction cost economics (TCE), but preserves elements from that theory. Two kinds of relational risk are identified: hold-up and spillover risk....

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...

En ny städningskultur inom komplexa företagsstrukturer relateras till kontextuella förhållanden mellan institutionella ägare och företagsledningars finansiella aktieägarperspektiv. Begreppen "Lean production och Lean company" får innebörd av att gå mot ett produktionsperspektiv där...

This paper is the first part of a Marxian critique of the theory of the firm, focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter marginal analysis is introduced, culminating in the derivation of the Labour Value Function as the supply curve of the...

This study considers the choice of ownership as a continuous variable, thereby adapting the Grossman-Hart-Moore (GHM) theory of the firm. To do so, it is assumed that parties sign a contract that enables them to divide and use assets even after the negotiation over gains of trade fails. I show...

We develop a new perspective on the boundary of the firm that is consistent with the empirical observation that the share of entrepreneurs first decreases and then increases in the course of economic development. Existing theory based on transaction costs is difficult to relate to these...

The paper addresses the nature and role of US-based firms in a globalised economy. The role of the firm is examined in the context of various forms of American capitalism. The paper begins with an examination of the reason for the existence of the firm with a focus on the evolutionary aspects of...

This paper is the first part of a Marxian critique of the theory of the firm focusing on the analysis of labour values. Starting from Adam Smith's example of the deer hunter, marginal analysis is introduced culminating in the derivation of the Labour Value Function as the supply curve of the...

This paper attempts to take steps towards the formulation of a more human approach to the theory of the firm than the conventional economics-based models. Unbounded rationality, self-interest and the absence of learning are shown to be crucial assumptions of conventional economic theory. Then,...

The paper analyses whether the economics of the firm is, or can be, historically relevant. In order to answer this question, we re-examine the famous historical case of vertical integration Fisher Body-General Motors. The archive related to this famous case being now accessible, we consider that...