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evolution of theories of the firm

  • 1.  evolution of theories of the firm

    Posted 09-14-2010 01:58
    Dear BPS-netters:
    I was charged to teach a new course entitled "evolution of the theories of the firm", then I am loking for reference relating to the theory of the firm, and especially that synthesizing and criticizing the actual position, in order to help me to desing the course.

    If you have such a ref, could you please send it to me? Or is there any book/article you would like to recommend?

    Thank you in advance.

    Sincerely,

    mehdi garrab



  • 2.  evolution of theories of the firm

    Posted 09-14-2010 06:35
    Mehdi,

    You can try

    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and
    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical
    Perspectives in Economic Organization, London: Routledge

    and

    Robert Gibbons (2005) Four Formal(izable) Theories of the Firm? JEBO

    Best wishes,

    Pavel

    On Tue, Sep 14, 2010 at 9:58 AM, mehdi mehdi <mehdigarrab@yahoo.co.uk> wrote:
    > Dear BPS-netters:
    > I was charged to teach a new course entitled “evolution of the theories of
    > the firm”, then I am loking for reference relating to the theory of the
    > firm, and especially that synthesizing and criticizing the actual position,
    > in order to help me to desing the course.
    > If you have such a ref, could you please send it to me? Or is there any
    > book/article you would like to recommend?
    >
    > Thank you in advance.
    >
    > Sincerely,
    >
    > mehdi garrab
    >


  • 3.  evolution of theories of the firm

    Posted 09-14-2010 09:06
    Quite simply the best work on the subject, in terms of both comprehensiveness and depth, is Mahoney's Economic Foundations of Strategy, published by Sage.

    Hope this helps,
    Steve Michael

    -----Original Message-----
    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Pavel Luksha
    Sent: Tuesday, September 14, 2010 5:35 AM
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: evolution of theories of the firm

    Mehdi,

    You can try

    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and
    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical
    Perspectives in Economic Organization, London: Routledge

    and

    Robert Gibbons (2005) Four Formal(izable) Theories of the Firm? JEBO

    Best wishes,

    Pavel

    On Tue, Sep 14, 2010 at 9:58 AM, mehdi mehdi <mehdigarrab@yahoo.co.uk> wrote:
    > Dear BPS-netters:
    > I was charged to teach a new course entitled "evolution of the theories of
    > the firm", then I am loking for reference relating to the theory of the
    > firm, and especially that synthesizing and criticizing the actual position,
    > in order to help me to desing the course.
    > If you have such a ref, could you please send it to me? Or is there any
    > book/article you would like to recommend?
    >
    > Thank you in advance.
    >
    > Sincerely,
    >
    > mehdi garrab
    >


  • 4.  evolution of theories of the firm

    Posted 09-14-2010 09:26
    Mehdi
    You can add the following book
    Mahoney, Joseph T. (2005),
    Economic Foundations of Strategy. Thousand Oaks, CA: Sage Publications
    Good luck
     
    Denisa


    On Tue, Sep 14, 2010 at 12:35 PM, Pavel Luksha <pavel.luksha@gmail.com> wrote:
    Mehdi,

    You can try

    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and
    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical
    Perspectives in Economic Organization, London: Routledge

    and

    Robert Gibbons (2005)  Four Formal(izable) Theories of the Firm? JEBO

    Best wishes,

    Pavel

    On Tue, Sep 14, 2010 at 9:58 AM, mehdi mehdi <mehdigarrab@yahoo.co.uk> wrote:
    > Dear BPS-netters:
    > I was charged to teach a new course entitled "evolution of the theories of
    > the firm", then I am loking for reference relating to the theory of the
    > firm, and especially that synthesizing and criticizing the actual position,
    > in order to help me to desing the course.
    > If you have such a ref, could you please send it to me? Or is there any
    > book/article you would like to recommend?
    >
    > Thank you in advance.
    >
    > Sincerely,
    >
    > mehdi garrab
    >



    --
    Denisa Mindruta
    Assistant Professor of Strategy
    HEC Paris- School of Management



  • 5.  evolution of theories of the firm

    Posted 09-14-2010 09:42
    With apologies for the self-promotion, may I suggest:
     
    Foss, Nicolai J., and Peter G. Klein, "The Theory of the Firm and Its Critics: A Stocktaking and Assessment," in Eric Brousseau and Jean-Michel Glachant, eds., New Institutional Economics: A Guidebook (Cambridge: Cambridge University Press, 2008), pp. 419-36.
    http://ssrn.com/abstract=695484
     
    Foss, Nicolai J., and Peter G. Klein, "The Emergence of the Modern Theory of the Firm," SMG Working Paper No. 1/2006, January 2006.
     
    The PowerPoint slides and other materials here may be useful as well:
     
    Regards,
    Peter Klein
     

    From: mehdigarrab@YAHOO.CO.UK CTRL + Click to follow link" href="mailto:mehdigarrab@YAHOO.CO.UK">mehdi mehdi
    Sent: Tuesday, September 14, 2010 12:58 AM
    To: BPS-NET@AOMLISTS.PACE.EDU CTRL + Click to follow link" href="mailto:BPS-NET@AOMLISTS.PACE.EDU">BPS-NET@AOMLISTS.PACE.EDU
    Subject: evolution of theories of the firm

    Dear BPS-netters:
    I was charged to teach a new course entitled "evolution of the theories of the firm", then I am loking for reference relating to the theory of the firm, and especially that synthesizing and criticizing the actual position, in order to help me to desing the course.

    If you have such a ref, could you please send it to me? Or is there any book/article you would like to recommend?

    Thank you in advance.

    Sincerely,

    mehdi garrab



  • 6.  evolution of theories of the firm

    Posted 09-14-2010 10:13
    Dear Mehdi,
    I concur that the Mahoney book is a great reference.
    Also, Santos and Eisenhardt (2005) have an excellent article in Org Science that compares the efficiency, competence, power, and identity theories of the firm.
    Best of luck!
    Anne


    -----Original Message-----
    From: Business Policy and Strategy List on behalf of mehdi mehdi
    Sent: Mon 9/13/2010 10:58 PM
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: evolution of theories of the firm

    Dear BPS-netters:

    I was charged to teach a new course entitled "evolution of the theories of the
    firm", then I am loking for reference relating to the theory of the firm, and
    especially that synthesizing and criticizing the actual position, in order to
    help me to desing the course.


    If you have such a ref, could you please send it to me? Or is there any
    book/article you would like to recommend?

    Thank you in advance.

    Sincerely,

    mehdi garrab


  • 7.  evolution of theories of the firm

    Posted 09-14-2010 11:02
    Medhi,
     
    From a historical perspective, you might also want to look at one classic article and one somewhat underutilized review:
     
      Coase, R. 1937. The nature of the firm. Economica, 4: 386-405.
     
      Conner, K. 1991. A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? Journal of Management, 17: 121-154.
     
    Best regards,

    Franz Lohrke
     
    ++++++++++++++++++++++++++++++++++++++++++++++++++++
    Franz T. Lohrke
    Brock Family Chair in Entrepreneurship
    Chair, Department of Entrepreneurship, Management & Marketing
    Brock School of Business
    Samford University
    800 Lakeshore Drive
    Birmingham, AL 35229
    Office: (205) 726-2373
    Fax:    (205) 726-2464
    ++++++++++++++++++++++++++++++++++++++++++++++++++++
     
    -----Original Message-----
    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Michael, Steven C.
    Sent: Tuesday, September 14, 2010 8:06 AM
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: evolution of theories of the firm
     
    Quite simply the best work on the subject, in terms of both comprehensiveness and depth, is Mahoney's Economic Foundations of Strategy, published by Sage. 
     
    Hope this helps,
    Steve Michael
     
    -----Original Message-----
    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Pavel Luksha
    Sent: Tuesday, September 14, 2010 5:35 AM
    Subject: Re: evolution of theories of the firm
     
    Mehdi,
     
    You can try
     
    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and
    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical
    Perspectives in Economic Organization, London: Routledge
     
    and
     
    Robert Gibbons (2005)  Four Formal(izable) Theories of the Firm? JEBO
     
    Best wishes,
     
    Pavel
     
    On Tue, Sep 14, 2010 at 9:58 AM, mehdi mehdi <mehdigarrab@yahoo.co.uk> wrote:
    > Dear BPS-netters:
    > I was charged to teach a new course entitled "evolution of the theories of
    > the firm", then I am loking for reference relating to the theory of the
    > firm, and especially that synthesizing and criticizing the actual position,
    > in order to help me to desing the course.
    > If you have such a ref, could you please send it to me? Or is there any
    > book/article you would like to recommend?
    >
    > Thank you in advance.
    >
    > Sincerely,
    >
    > mehdi garrab
    >
     


  • 8.  evolution of theories of the firm

    Posted 09-14-2010 11:32
    ... and also Theories of the Firm, 3rd ed., (Inderscience) by D. Kantarelis
    <http://www.inderscience.com/browse/book.php?journalID=1018>


    ________________________________

    From: Business Policy and Strategy List on behalf of Denisa Mindruta
    Sent: Tue 9/14/2010 9:25 AM
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: evolution of theories of the firm


    Mehdi
    You can add the following book
    Mahoney, Joseph T. (2005),
    Economic Foundations of Strategy. Thousand Oaks, CA: Sage Publications
    Good luck

    Denisa


    On Tue, Sep 14, 2010 at 12:35 PM, Pavel Luksha <pavel.luksha@gmail.com> wrote:


    Mehdi,

    You can try

    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and
    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical
    Perspectives in Economic Organization, London: Routledge

    and

    Robert Gibbons (2005) Four Formal(izable) Theories of the Firm? JEBO

    Best wishes,

    Pavel


    On Tue, Sep 14, 2010 at 9:58 AM, mehdi mehdi <mehdigarrab@yahoo.co.uk> wrote:
    > Dear BPS-netters:
    > I was charged to teach a new course entitled "evolution of the theories of
    > the firm", then I am loking for reference relating to the theory of the
    > firm, and especially that synthesizing and criticizing the actual position,
    > in order to help me to desing the course.
    > If you have such a ref, could you please send it to me? Or is there any
    > book/article you would like to recommend?
    >
    > Thank you in advance.
    >
    > Sincerely,
    >
    > mehdi garrab
    >





    --
    Denisa Mindruta
    Assistant Professor of Strategy
    HEC Paris- School of Management


  • 9.  evolution of theories of the firm

    Posted 09-14-2010 12:01
    Business Policy and Strategy List <BPS-NET@AOMLISTS.PACE.EDU> writes:
    I was charged to teach a new course entitled "evolution of the theories of the firm", then I am loking for reference relating to the theory of the firm, and especially that synthesizing and criticizing the actual position, in order to help me to desing the course.
    If you have such a ref, could you please send it to me? Or is there any book/article you would like to recommend?


    Medhi,

    Outside the narrow confines of the strategy literature, there is a broader set of theories of the firm that have been discussed in the field of organizational economics.  The most comprehensive statement summarizing that body of work is:

    Gibbons, R. 2005. Four formal(izable) theories of the firm? Journal of Economic Behavior and Organization, 58(2): 200-245.

    And, as long as Peter and Steve are respectively indulging in self-promotion and colleague-promotion, I'll also join that party by suggesting the paper that won this year's AMR Best Paper Award:

    Makadok, R., & Coff, R. 2009. Both Market and Hierarchy: An Incentive-Systems Theory of Hybrid Governance Forms. Academy of Management Review, 34(2): 297-319.

    Cheers,
    Rich

    --------------------------
    Richard J. Makadok
    Associate Professor
    Goizueta Business School
    Emory University
    1300 Clifton Road
    Atlanta, GA 30322-2710

    voice (404) 727-8639
    fax (404) 727-6313


    "It is better to fail in originality than to succeed in imitation."
    -- Herman Melville

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  • 10.  evolution of theories of the firm

    Posted 09-15-2010 08:40
    I would highly recommend a relatively new book with a different and highly innovative approach:
    Daniel Spulber (2009) The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations.  Cambridge University Press
    Thanks, Isaac Fox

    On 9/14/2010 10:02 AM, Lohrke, Franz T. wrote:
    A015D398ED6D60478D1B762E4A0C71B30254581795@server170.ad.samford.edu" type="cite">
    Medhi,
     
    From a historical perspective, you might also want to look at one classic article and one somewhat underutilized review:
     
      Coase, R. 1937. The nature of the firm. Economica, 4: 386-405.
     
      Conner, K. 1991. A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? Journal of Management, 17: 121-154.
     
    Best regards,

    Franz Lohrke
     
    ++++++++++++++++++++++++++++++++++++++++++++++++++++
    Franz T. Lohrke
    Brock Family Chair in Entrepreneurship
    Chair, Department of Entrepreneurship, Management & Marketing
    Brock School of Business
    Samford University
    800 Lakeshore Drive
    Birmingham, AL 35229
    Office: (205) 726-2373
    Fax:    (205) 726-2464
    ++++++++++++++++++++++++++++++++++++++++++++++++++++
     
    -----Original Message-----
    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Michael, Steven C.
    Sent: Tuesday, September 14, 2010 8:06 AM
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: evolution of theories of the firm
     
    Quite simply the best work on the subject, in terms of both comprehensiveness and depth, is Mahoney's Economic Foundations of Strategy, published by Sage. 
     
    Hope this helps,
    Steve Michael
     
    -----Original Message-----
    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Pavel Luksha
    Sent: Tuesday, September 14, 2010 5:35 AM
    Subject: Re: evolution of theories of the firm
     
    Mehdi,
     
    You can try
     
    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and
    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical
    Perspectives in Economic Organization, London: Routledge
     
    and
     
    Robert Gibbons (2005)  Four Formal(izable) Theories of the Firm? JEBO
     
    Best wishes,
     
    Pavel
     
    On Tue, Sep 14, 2010 at 9:58 AM, mehdi mehdi <mehdigarrab@yahoo.co.uk> wrote:
    > Dear BPS-netters:
    > I was charged to teach a new course entitled "evolution of the theories of
    > the firm", then I am loking for reference relating to the theory of the
    > firm, and especially that synthesizing and criticizing the actual position,
    > in order to help me to desing the course.
    > If you have such a ref, could you please send it to me? Or is there any
    > book/article you would like to recommend?
    >
    > Thank you in advance.
    >
    > Sincerely,
    >
    > mehdi garrab
    >
     


  • 11.  evolution of theories of the firm

    Posted 09-15-2010 10:43

    Peter has an excellent list. I agree with Steve that Joe's book (Economic foundations of strategy, Sage) has the best coverage. I'd add the following studies that reflect some developments in financial economics:

                                                                       

    ·       The studies by Hart and colleagues. For an easy to understand introduction, see Hart, Oliver E. (1989). An economist's perspective on the theory of the firm. Columbia Law Review, 89 (7): 1754-1774.

    ·       The studies by Holmstrom and colleagues. For an easy to understand introduction, see Holmstrom, Bengt and John Roberts. 1998. The Boundaries of the Firm Revisited. Journal of Economic Perspectives 12(4): 73-94.

     

    Here are two empirical studies along these lines:  

     

    ·       Kaplan, S. N., & Stromberg, P. 2003. Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts. Review of Economic Studies, 70(2): 281-315.

    ·       Baker, George and Thomas Hubbard. 2003. Make Versus Buy in Trucking: Asset Ownership, Job Design, and Information. American Economic Review 93(3): 551-572.

     

     

    Regards,

    Yong

     

     

     

    From: Peter G. Klein [mailto:pklein@MISSOURI.EDU]
    Sent: Tuesday, September 14, 2010 9:42 AM
    Subject: Re: evolution of theories of the firm

     

    With apologies for the self-promotion, may I suggest:

     

    Foss, Nicolai J., and Peter G. Klein, "The Theory of the Firm and Its Critics: A Stocktaking and Assessment," in Eric Brousseau and Jean-Michel Glachant, eds., New Institutional Economics: A Guidebook (Cambridge: Cambridge University Press, 2008), pp. 419-36.
    http://ssrn.com/abstract=695484

     

    Foss, Nicolai J., and Peter G. Klein, "The Emergence of the Modern Theory of the Firm," SMG Working Paper No. 1/2006, January 2006.

     

    The PowerPoint slides and other materials here may be useful as well:

     

    Regards,

    Peter Klein

     

     

    From: mehdi mehdi

    Sent: Tuesday, September 14, 2010 12:58 AM

    Subject: evolution of theories of the firm

     

    Dear BPS-netters:

    I was charged to teach a new course entitled "evolution of the theories of the firm", then I am loking for reference relating to the theory of the firm, and especially that synthesizing and criticizing the actual position, in order to help me to desing the course.


    If you have such a ref, could you please send it to me? Or is there any book/article you would like to recommend?

    Thank you in advance.

    Sincerely,

    mehdi garrab

     



  • 12.  evolution of theories of the firm

    Posted 09-16-2010 12:58

    Can I suggest also:

     Becerra, M. (2009) Theory of the Firm for Strategic Management, Cambridge: Cambridge University Press

     

    Regards

    Adrian

    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Y Li
    Sent: 15 September 2010 15:43
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: evolution of theories of the firm

     

    Peter has an excellent list. I agree with Steve that Joe's book (Economic foundations of strategy, Sage) has the best coverage. I'd add the following studies that reflect some developments in financial economics:

                                                                       

    The studies by Hart and colleagues. For an easy to understand introduction, see Hart, Oliver E. (1989). An economist's perspective on the theory of the firm. Columbia Law Review, 89 (7): 1754-1774.

    The studies by Holmstrom and colleagues. For an easy to understand introduction, see Holmstrom, Bengt and John Roberts. 1998. The Boundaries of the Firm Revisited. Journal of Economic Perspectives 12(4): 73-94.

     

    Here are two empirical studies along these lines:  

     

    Kaplan, S. N., & Stromberg, P. 2003. Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts. Review of Economic Studies, 70(2): 281-315.

    Baker, George and Thomas Hubbard. 2003. Make Versus Buy in Trucking: Asset Ownership, Job Design, and Information. American Economic Review 93(3): 551-572.

     

     

    Regards,

    Yong

     

     

     

    From: Peter G. Klein [mailto:pklein@MISSOURI.EDU]
    Sent: Tuesday, September 14, 2010 9:42 AM
    Subject: Re: evolution of theories of the firm

     

    With apologies for the self-promotion, may I suggest:

     

    Foss, Nicolai J., and Peter G. Klein, "The Theory of the Firm and Its Critics: A Stocktaking and Assessment," in Eric Brousseau and Jean-Michel Glachant, eds., New Institutional Economics: A Guidebook (Cambridge: Cambridge University Press, 2008), pp. 419-36.
    http://ssrn.com/abstract=695484

     

    Foss, Nicolai J., and Peter G. Klein, "The Emergence of the Modern Theory of the Firm," SMG Working Paper No. 1/2006, January 2006.

     

    The PowerPoint slides and other materials here may be useful as well:

     

    Regards,

    Peter Klein

     

     

    From: mehdi mehdi

    Sent: Tuesday, September 14, 2010 12:58 AM

    Subject: evolution of theories of the firm

     

    Dear BPS-netters:

    I was charged to teach a new course entitled "evolution of the theories of the firm", then I am loking for reference relating to the theory of the firm, and especially that synthesizing and criticizing the actual position, in order to help me to desing the course.


    If you have such a ref, could you please send it to me? Or is there any book/article you would like to recommend?

    Thank you in advance.

    Sincerely,

    mehdi garrab

     



  • 13.  Evolution of theories of the firm

    Posted 09-16-2010 21:26

     Hi all

     

    This discussion has been  a blend of confirmation and discovery for me.  

     

    As a late contribution, this book may also be useful.

     

    Penrose, E. (1972). Theory of the Growth of the Firm. Oxford, Basil Blackwell.

     

    Regards,

    Rob Mitchell  

     

     

     

    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of mehdi mehdi
    Sent: Thursday, 16 September 2010 11:30 p.m.
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: About evolution of theories of the firm

     

    Hi,

     

    I shall want to thank all those who set of their time(weather) to answer my requete.

     

    Here is a summary of the received(successful) answers, for those who are interested in it:

     

     

    Daniel Spulber (2009) The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations.  Cambridge University Press

     

    Coase, R. 1937. The nature of the firm. Economica, 4: 386-405.

     

    Conner, K. 1991. A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? Journal of Management, 17: 121-154.

     

     

    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and

    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical

    Perspectives in Economic Organization, London: Routledge

     

    Robert Gibbons (2005)  Four Formal(izable) Theories of the Firm? JEBO

     

     

    Mahoney, Joseph T. (2005),

    Economic Foundations of Strategy. Thousand Oaks, CA: Sage Publications

     

    Foss, Nicolai J., and Peter G. Klein, "The Theory of the Firm and Its Critics: A Stocktaking and Assessment," in Eric Brousseau and Jean-Michel Glachant, eds., New Institutional Economics: A Guidebook (Cambridge: Cambridge University Press, 2008), pp. 419-36.
    http://ssrn.com/abstract=695484

     

    Foss, Nicolai J., and Peter G. Klein, "The Emergence of the Modern Theory of the Firm," SMG Working Paper No. 1/2006, January 2006.

     

    The PowerPoint slides and other materials here may be useful as well:

     

    Santos and Eisenhardt (2005) have an excellent article in Org Science that compares the efficiency, competence, power, and identity theories of the firm

     

    Theories of the Firm  Third Edition Demetri Kantarelis

     

    Makadok, R., & Coff, R. 2009. Both Market and Hierarchy: An Incentive-Systems Theory of Hybrid Governance Forms. Academy of Management Review, 34(2): 297-319.

     

     

     

     

     

    From: Evangelos Syrigos <evangelos@syrigos.org>
    To: mehdigarrab@YAHOO.CO.UK
    Sent: Thu, 16 September, 2010 11:58:28
    Subject: About evolution of theories of the firm

    Dear Garrab,

     

    I wound be grateful if you could share with me the responses which you got by your question in AOM about "evolution of theories of the firm".

     

    Also, I would suggest to see Donaldson's book "American Anti- management theories".

     

    Thank you in advance,

     

    Evangelos Syrigos

     



  • 14.  Evolution of theories of the firm

    Posted 09-20-2010 14:04

    Dear BPS members:

     

    Following up with this email discussion, for an alternative and more cutting-edge perspective on the theory of the firm, please consider:

     

    Stanley, M.H.R.; Amaral, L.A.N.; Buldyrev, S.V.; Havlin, S.; Leschhorn, H.; Maass, P.; Salinger,    M.A.; Stanley, H.E. 1996. Scaling Behavior in the Growth of Companies. Nature, 379: 804–806.

     

    Citing the above work, Axtell (1999) writes that "there are three important empirical facts that an accurate theory of the firm should reproduce: (a) firm sizes must be right-skewed, approximating a power law; (b) firm growth rates must be Laplace distributed; (c) the standard deviation in log growth rates as a function of

    size must follow a power law with exponent -0.15 +/- 0.03."  Aside from his own agent-based computational model, Axtell writes, " . . . theories of the firm that satisfy all these requirements are unknown to us."

     

    Axtell, R. 1999. The Emergence of Firms in a Population of Agents: Local Increasing Returns, Unstable Nash Equilibria, and Power Law Size Distributions. Santa Fe Institute Working Paper 99-03-019.

     
    Sincerely,
    Jason W. Park, PhD
    City University of Hong Kong
     
    From: Business Policy and Strategy List [BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Robert Mitchell [robert.mitchell@OTAGO.AC.NZ]
    Sent: Thursday, September 16, 2010 9:26 PM
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: Evolution of theories of the firm

     Hi all

     

    This discussion has been  a blend of confirmation and discovery for me.  

     

    As a late contribution, this book may also be useful.

     

    Penrose, E. (1972). Theory of the Growth of the Firm. Oxford, Basil Blackwell.

     

    Regards,

    Rob Mitchell  

     

     

     

    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of mehdi mehdi
    Sent: Thursday, 16 September 2010 11:30 p.m.
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: About evolution of theories of the firm

     

    Hi,

     

    I shall want to thank all those who set of their time(weather) to answer my requete.

     

    Here is a summary of the received(successful) answers, for those who are interested in it:

     

     

    Daniel Spulber (2009) The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations.  Cambridge University Press

     

    Coase, R. 1937. The nature of the firm. Economica, 4: 386-405.

     

    Conner, K. 1991. A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? Journal of Management, 17: 121-154.

     

     

    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and

    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical

    Perspectives in Economic Organization, London: Routledge

     

    Robert Gibbons (2005)  Four Formal(izable) Theories of the Firm? JEBO

     

     

    Mahoney, Joseph T. (2005),

    Economic Foundations of Strategy. Thousand Oaks, CA: Sage Publications

     

    Foss, Nicolai J., and Peter G. Klein, "The Theory of the Firm and Its Critics: A Stocktaking and Assessment," in Eric Brousseau and Jean-Michel Glachant, eds., New Institutional Economics: A Guidebook (Cambridge: Cambridge University Press, 2008), pp. 419-36.
    http://ssrn.com/abstract=695484

     

    Foss, Nicolai J., and Peter G. Klein, "The Emergence of the Modern Theory of the Firm," SMG Working Paper No. 1/2006, January 2006.

     

    The PowerPoint slides and other materials here may be useful as well:

     

    Santos and Eisenhardt (2005) have an excellent article in Org Science that compares the efficiency, competence, power, and identity theories of the firm

     

    Theories of the Firm  Third Edition Demetri Kantarelis

     

    Makadok, R., & Coff, R. 2009. Both Market and Hierarchy: An Incentive-Systems Theory of Hybrid Governance Forms. Academy of Management Review, 34(2): 297-319.

     

     

     

     

     

    From: Evangelos Syrigos <evangelos@syrigos.org>
    To: mehdigarrab@YAHOO.CO.UK
    Sent: Thu, 16 September, 2010 11:58:28
    Subject: About evolution of theories of the firm

    Dear Garrab,

     

    I wound be grateful if you could share with me the responses which you got by your question in AOM about "evolution of theories of the firm".

     

    Also, I would suggest to see Donaldson's book "American Anti- management theories".

     

    Thank you in advance,

     

    Evangelos Syrigos

     



  • 15.  Evolution of theories of the firm

    Posted 09-21-2010 03:56

    Dear BPSers,

     

    Although I am not quite sure what to think of stochastic theories as recommended by Jason (for our view on this, see Cefis/Marsili/Schenk 2009. The effects of mergers and acquisitions on the firm size distribution. Journal of Evolutionary Economics 19: 1-20), the following surely tries to understand seemingly irrational behaviour of firms (from a discussion of merger performance): Schenk 2008. Firms, managers, and restructuring-implications of a social economics view, in Davis/Dolfsma eds. The Elgar Companion to Social Economics. Cheltenham (a paperback version just appeared this month).

     

    Btw, many thanks to contributors-several of the suggestions had escaped my attention too!

     

    Hans

     

    Hans Schenk D.Etat (Econ) MBA | Professor of Economics | Dept. of Economics (USE) | Utrecht University | Mail and office: 12 Janskerkhof, 3512 BL Utrecht, The Netherlands | Secretary: Monica Donders +31 30 253 9800 | GSM +31 651 80 90 94 |

     

     

    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Park, Jason Whan
    Sent: maandag 20 september 2010 20:04
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: Evolution of theories of the firm

     

    Dear BPS members:

     

    Following up with this email discussion, for an alternative and more cutting-edge perspective on the theory of the firm, please consider:

     

    Stanley, M.H.R.; Amaral, L.A.N.; Buldyrev, S.V.; Havlin, S.; Leschhorn, H.; Maass, P.; Salinger,    M.A.; Stanley, H.E. 1996. Scaling Behavior in the Growth of Companies. Nature, 379: 804–806.

     

    Citing the above work, Axtell (1999) writes that "there are three important empirical facts that an accurate theory of the firm should reproduce: (a) firm sizes must be right-skewed, approximating a power law; (b) firm growth rates must be Laplace distributed; (c) the standard deviation in log growth rates as a function of

    size must follow a power law with exponent -0.15 +/- 0.03."  Aside from his own agent-based computational model, Axtell writes, " . . . theories of the firm that satisfy all these requirements are unknown to us."

     

    Axtell, R. 1999. The Emergence of Firms in a Population of Agents: Local Increasing Returns, Unstable Nash Equilibria, and Power Law Size Distributions. Santa Fe Institute Working Paper 99-03-019.

     

    Sincerely,

    Jason W. Park, PhD
    City University of Hong Kong

     

    From: Business Policy and Strategy List [BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of Robert Mitchell [robert.mitchell@OTAGO.AC.NZ]
    Sent: Thursday, September 16, 2010 9:26 PM
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: Evolution of theories of the firm

     Hi all

     

    This discussion has been  a blend of confirmation and discovery for me.  

     

    As a late contribution, this book may also be useful.

     

    Penrose, E. (1972). Theory of the Growth of the Firm. Oxford, Basil Blackwell.

     

    Regards,

    Rob Mitchell  

     

     

     

    From: Business Policy and Strategy List [mailto:BPS-NET@AOMLISTS.PACE.EDU] On Behalf Of mehdi mehdi
    Sent: Thursday, 16 September 2010 11:30 p.m.
    To: BPS-NET@AOMLISTS.PACE.EDU
    Subject: Re: About evolution of theories of the firm

     

    Hi,

     

    I shall want to thank all those who set of their time(weather) to answer my requete.

     

    Here is a summary of the received(successful) answers, for those who are interested in it:

     

     

    Daniel Spulber (2009) The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations.  Cambridge University Press

     

    Coase, R. 1937. The nature of the firm. Economica, 4: 386-405.

     

    Conner, K. 1991. A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? Journal of Management, 17: 121-154.

     

     

    N.Foss (2000) The Theory of the Firm: an Introduction to Themes and

    Contributions, In: Nicolai J. Foss, The Theory of the Firm: Critical

    Perspectives in Economic Organization, London: Routledge

     

    Robert Gibbons (2005)  Four Formal(izable) Theories of the Firm? JEBO

     

     

    Mahoney, Joseph T. (2005),

    Economic Foundations of Strategy. Thousand Oaks, CA: Sage Publications

     

    Foss, Nicolai J., and Peter G. Klein, "The Theory of the Firm and Its Critics: A Stocktaking and Assessment," in Eric Brousseau and Jean-Michel Glachant, eds., New Institutional Economics: A Guidebook (Cambridge: Cambridge University Press, 2008), pp. 419-36.
    http://ssrn.com/abstract=695484

     

    Foss, Nicolai J., and Peter G. Klein, "The Emergence of the Modern Theory of the Firm," SMG Working Paper No. 1/2006, January 2006.

     

    The PowerPoint slides and other materials here may be useful as well:

     

    Santos and Eisenhardt (2005) have an excellent article in Org Science that compares the efficiency, competence, power, and identity theories of the firm

     

    Theories of the Firm  Third Edition Demetri Kantarelis

     

    Makadok, R., & Coff, R. 2009. Both Market and Hierarchy: An Incentive-Systems Theory of Hybrid Governance Forms. Academy of Management Review, 34(2): 297-319.

     

     

     

     

     

    From: Evangelos Syrigos <evangelos@syrigos.org>
    To: mehdigarrab@YAHOO.CO.UK
    Sent: Thu, 16 September, 2010 11:58:28
    Subject: About evolution of theories of the firm

    Dear Garrab,

     

    I wound be grateful if you could share with me the responses which you got by your question in AOM about "evolution of theories of the firm".

     

    Also, I would suggest to see Donaldson's book "American Anti- management theories".

     

    Thank you in advance,

     

    Evangelos Syrigos