Property rights theory, transaction costs theory, and agency theory: an organizational economics approach to strategic management
نویسندگان
چکیده
منابع مشابه
Property Rights Theory, Transaction Costs Theory, and Agency Theory: An Organizational Economics Approach to Strategic Management
Property rights theory has common antecedents with contractual theories of the firm such as transaction costs and agency theories, and is yet distinct from these theories. We illustrate fundamental theoretical principles derived from these three theories by analyzing the business case of oil field unitization. Theoretical principles and application of theory to oil field unitization are each su...
متن کاملTransaction Costs and Incentive Theory ∗
This paper tries to reconcile incentive theory with transaction costs theory. We first discuss the fundamental assumptions underlying the use of the Revelation Principle in the standard mechanism design literature and show how various contractual incompletenesses and externalities induced by transaction costs affect the basic trade-off between allocative efficiency and informational rents highl...
متن کاملAn integrative Approach to Management: Combining Communication and Organizational Theory
3. Your Payoff – Communication . . . . . . Skills are central to career Development. . . . Skills are central to organizational development. . . . Is the most obvious manifestation of management. . . . Functions are inevitable consequences of managing. . . . . . . Contexts define critical units of analysis. . . . Processes & strategies have assumptions about outcomes. . . . Is integral to organ...
متن کاملStrategic City Branding; from Theory to Practice
Cities are in search for new ways to get promoted. Regarding the fast changes in technology and the shift from local to a globalized environment, cities are forced to compete with each other in order to become an attractive tourist destination, workplace, cultural rich place and much more. City branding has been introduced as a new and creative solution to be adopted by cities to achieve suc...
متن کاملAgency Theory, Evolution, and Austrian Economics
This paper analyzes the evolution of agency theory and shows how Austrian economists and, in particular, Mises largely anticipated these developments. Our analytical framework is the evolution of agency theory and we argue that it is a quest for more realism that has been the driving force of this evolution. We analyze how the agency literature has evolved since its first developments with the ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Managerial and Decision Economics
سال: 2005
ISSN: 0143-6570,1099-1468
DOI: 10.1002/mde.1218