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This volume of Progress in International Business Research includes a selection of 13 papers from the 35th European International Business Academy Annual Conference, which was held in Valencia (Spain) from the 13th to the 15th of December 2009.
This book offers a distinctive analysis of the relations and interplay between the internal activities of firms, their changing boundaries, and increasing reliance on networks and alliances with other firms. The contributors offer a blend of theoretical and empirical studies; they are based on a set of related perspectives in modern economics, including transaction cost economics, competence and resource-based theories of the firm, evolutionary economics and the theories of foreign direct investments and the multinational enterprise. The unifying concern shared by the different studies is the need to model firm behaviour and inter firm cooperative activities in terms of knowledge growth and competence building rather than merely in terms of cost-reduction; they emphasize learning processes and dynamic efficiency rather than efficient allocation of given resources.
This in-depth exploration of the organizational strategies of Japanese corporate management and union leaders considers the issue of the 'organizational boundaries' which arise from the restructuring following mergers, acquisitions, outsourcing and spin-offs.
The papers in this volume demonstrate that it can be fruitful to apply institutional theory to business history. In addition, the volume shows that the wider study of the institutional environment is inseparable from the study of business. It is clear, however, that although 'institutionalism' in business history has a long pedigree, many areas of research and potential interaction with theory remain to be explored. The extent to which this will occur inevitably depends upon the degree to which the interests of theoreticians serve the needs of historians and vice versa.
Law and Economics of Vertical Integration and Control focuses on the processes, methodologies, and approaches involved in the law and economics of vertical integration and control. The publication first elaborates on transaction costs, fixed proportions and contractual alternatives, and variable proportions and contractual alternatives. Discussions focus on sales revenue royalties, ownership integration, output royalties, important product-specific services, successive monopoly, advantages and limitations of internal transfers, and transaction cost determinants. The text then examines vertical integration under uncertainty and vertical integration without contractual alternatives. The book ponders on legal treatment of ownership integration and per se illegal contractual controls. Topics include tying arrangements, public policy assessment, resale price maintenance, vertical integration and the Sherman Act, market foreclosure doctrine, and the 1982 Merger Guidelines. The text also takes a look at contractual controls that are not illegal per se, alternative legal rules, and antitrust policy. The publication is a dependable reference for researchers interested in the law and economics of vertical integration and control.
This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
Case studies that examine how firms coordinate economic activity in the face of asymmetric information—information not equally available to all parties—are the focus of this volume. In an ideal world, the market would be the optimal provider of coordination, but in the real world of incomplete information, some activities are better coordinated in other ways. Divided into three parts, this book addresses coordination within firms, at the borders of firms, and outside firms, providing a picture of the overall incidence and logic of economic coordination. The case studies—drawn from the late nineteenth and early twentieth century, when the modern business enterprise was evolving, address such issues as the relationship between coordination mechanisms and production techniques, the logic of coordination in industrial districts, and the consequences of regulation for coordination. Continuing the work on information and organization presented in the influential Inside the Business Enterprise, this book provides material for business historians and economists who want to study the development of the dissemination of information and the coordination of economic activity within and between firms.
This 2003 book offered the first in-depth international survey of contemporary research and debates in business history. Over the two decades leading to its publication, enormous advances had been made in writing the history of business enterprise and business systems. Historians are documenting and analyzing the evolution of a wide range of important companies and systems, their patterns of innovation, production, and distribution, their financial affairs, their political activities, and their social impact. Each essay is written by a prominent authority who provides an assessment of the state and significance of research in his or her area. This volume is a reference work that will be of immense value to historians, economists, management researchers, and others concerned to access the latest insights on the evolution of business throughout the world.
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.