In an article published in this Journal in 2005, Dorward et al. argued that non-market institutions are particularly effective in addressing market failures in a high-transaction cost institutional environment which is often characteristic of low-income countries. This comment develops...

The paper is aimed at determining the applicability of transaction cost theory to explain the organizational change in transitional agriculture of Central and Eastern European countries. Motivation for this research is provided by the fact that agricultural enterprises with minimal transaction...

The paper presents a theoretical discussion of the organisational change occurring in Ukrainian agriculture since 1991. This organisational change is interesting because: 1) it has been characterized by significant inertia; and 2) at the same time, the conscious resistance to the change has not...

This paper reconsiders the exchange paradigm of constitutional economics from the perspective of the theory of the division of labor. According to this theory, human wants can be satisfied by two basic mechanisms - exchange and self-sufficiency. The exchange paradigm of constitutional economics...

Building upon the transaction cost theory of the for-profit firm, the paper argues that the transaction cost-economizing role of the nonprofit firm has two distinct dimensions. One of them consists of reducing the cost of searching for, processing, and communicating information and the other -...

The need to identify the distinctive logic of the nonprofit sector, recently pronounced in the literature, gives rise to the need to substantiate links between the logics of different societal sectors. This paper seeks to identify links between the logics of for-profit and nonprofit sectors from...

The remarkable feature of the nonprofit sector is its astonishing diversity. This feature gets short shrift in the traditional market or governmental failure theories of the nonprofit sector. Drawing on Niklas Luhmann's concept of functional differentiation, we demonstrate that these theories...

In this article, we draw on established views of CSR dysfunctionalities to show how and why CSR is regularly observed to be both shaped by and supportive of capitalism. We proceed to show that these dysfunctionalities are maintained by both the pro- and anticapitalist approaches to CSR, which...

Purpose: Are entrepreneurial opportunities are discovered or created? The debate around this question has crucial implications for successful organizational change management in the business world. The present conceptual article transcends this debate by embedding the concept of the...