The Objective, Nature and Essence of the Firm

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The Objective, Nature and Essence of the Firm

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dc.contributor.author Li, Xin
dc.date.accessioned 2010-05-25
dc.date.accessioned 2010-05-25T08:39:19Z
dc.date.available 2010-05-25T08:39:19Z
dc.date.issued 2010-05-25
dc.identifier.uri http://hdl.handle.net/10398/8055
dc.description.abstract In a recent article in European Management Review, Pitelis and Teece (2009) argue that extant explanations of the nature and scope of firms, such as transaction costs, property rights, metering team production, and resource-based, can be integrated into a more general (capability-based) theory of the firm. Despite acknowledging their account offers new insights on the issue, I am critical of their claim that the (dynamic) capability-based perspective can integrate the existing theories, which they in fact have failed to substantiate for three reasons. Firstly, they downplay the role of opportunism and simply categorize it as a kind of market failure, which they suspect its explanatory power. Secondly, their account is entrepreneur-centric, ignoring the role of employees in the formation of the firm, a problem they see in the transaction cost theory but nevertheless fail to address themselves. Thirdly, their critique of the market-failure-based explanation is problematic. I briefly introduce my own relationship-based theory as an alternative integration of the existing theories. en_US
dc.format.extent 8 s. en_US
dc.language eng en_US
dc.publisher Department of International Economics and Management en_US
dc.relation.ispartofseries Working Paper;wp2
dc.subject.other theory of the firm en_US
dc.subject.other integration en_US
dc.subject.other opportunism en_US
dc.subject.other optimism en_US
dc.subject.other relationship en_US
dc.subject.other harmony en_US
dc.title The Objective, Nature and Essence of the Firm en_US
dc.type wp en_US
dc.accessionstatus modt10maj25 mamo en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for International Økonomi og Virksomhedsledelse en_US
dc.contributor.departmentshort INT en_US
dc.contributor.departmentuk Department of International Economics and Management en_US
dc.contributor.departmentukshort INT en_US
dc.idnumber x656600380 en_US
dc.publisher.city Frederiksberg en_US
dc.publisher.year 2010 en_US
dc.title.subtitle An Alternative Integration en_US


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