Academia.edu no longer supports Internet Explorer.
To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser.
2021, Academia Letters
The main contribution of Coase is having proven that no institution is a free lunch (among others, Pagano, 2012). it means that every institution (e.g. the market and the firm) has non-null costs of functioning, i.e. transaction costs. in a world with positive transaction costs, the policy-making process has to rest on a meticulous comparative analysis of alternative institutional arrangements. in this respect, ronald Coase has defined and developed a theory of choices among institutional solutions. The aim of this brief work is to highlighting, therefore, the strict correlation among transaction costs, institutions and law.
This chapter is a survey of modern theories of the firm. We categorize these as belonging either to the principal-agent or the incomplete contracting approach. In the former category fall, for example, the Alchian and Demsetz moral hazard in teams theory as well as Holmstrøm and Milgrom's theory of the firm as an incentive system. Belonging to the incomplete contracting branch are theories that stress the importance of the employment relationship (for example, Coase and Simon) as an adaptation mechanism, theories that stress the importance of ownership of assets for affecting incentives when contracts must be renegotiated (Williamson, Grossman and Hart, Hart and Moore), and some recent work on implicit contracts (Baker, Gibbons and Murphy). We argue that these different perspectives on the firm should be viewed as complementary rather than as mutually exclusive and that a synthesis seems to be emerging. JEL classification: K22, L22
2015 •
This study aims to clarify the firm in neo-institutional context. The firm is a particularly dynamic, constantly evolving process and an organizational structure. The firm is a symbiosis of entities, internal and external regulations, market and non-market mechanisms and relations, legal and economic conditions and effects. In the legal aspect, it is the sum of relationships developing inside and outside the scope of the organization legal process through which the property is managed. Economically, it is an organization created to profit from the production optimum. In the neo-institutional context, it is an abstract mechanism to control processes-on the one hand legal, economic, social and other administrative, marketing and arbitration-Contract processes. These companies have resources to create a balance between the costs behavioral resources for speed and security. The assessment of such corporate efficiency is based on transaction costs.
International Journal of the Economics of …
The legal nature of the firm and the myth of the firm-market hybrid2002 •
This volume will focus on the most abstract principles of corporate finance law. This chapter will explain the definition of corporate finance law presented in the preface. The nature of corporate finance law can be explained on the premiss that the law of corporate finance is regarded as an autonomous discipline. The law of corporate finance has a distinctive character which is based on the unique nature of the tasks it undertakes. 2.2 Key Objectives of Corporate Finance Law For the firm, the law of corporate finance has one distinct objective separating it from other areas of law. The law of corporate finance should help the firm to make decisions regarding its finances in a rational way. 1 While corporate finance provides a framework that helps to make sense of the behaviour of all firms from an economic perspective, the law of corporate finance can help to make sense of the behaviour of all firms from a legal perspective. Perspective of the firm. In the law of corporate finance, the starting point should be the firm. The choice of the perspective of the firm helps to better explain corporate reality. This does not prevent investors from benefiting from corporate finance law in the same way as firms do. First, firms invest in all kinds of things themselves and can often act in the capacity of investors. Second, an investor-even a private person can be regarded as a " firm " when making investment decisions. All investors can thus use the information provided by corporate finance law when making their own investment decisions. The same can be said of funding and exit decisions. Context. The law of corporate finance is applied in the context of investments, funding, exit, and certain existential questions. All firms from small businesses to large multinational companies weigh up alternative investments and alternative ways to obtain funding. The firm will also study different exit alternatives either in 1 The rational choice theory is the prevailing theory of decision-making in microeconom-ics and much of the other social sciences that have been influenced by economics.
Revue d’économie industrielle
Solving The « Selective Intervention » Puzzle Some Thoughts About The Theory of The Firm2010 •
Adventures of the Law: Proceedings of the …
The Firm as an Entity before the Companies Acts: Asset Partitioning by Private Law2003 •
Safety and Security Engineering III
Integrated access control system for ports2009 •
ÖDaF-Mitteilungen
Editorial: 30 Jahre (sprachen-)politisch mitgeredet - der ÖDaF2014 •
2011 •
Journal of Bioscience and Applied Research
Use of Date Palm Leaves with Some Animal feces For Microbial Activity for Biofertilizer productionPakistan Journal of Medical and Health Sciences
Donor Liver Attenuation Index and Liver Biopsy Correlation in Living Donor Liver Transplantation2021 •
Revista de Direito Sanitário
Índios e Loucos: Sobre Tutela, Reconhecimento De Direitos e Desafios Para a Efetivação Da Cidadania No Campo Da Saúde Mental2018 •
Avances En Psicologia Latinoamericana
Aplicación del modelamiento basado en agentes al estudio de los estereotipos de género2012 •
International Journal of Advanced Engineering Research and Science
Monitoring experiences in the follow-up of autistic children: Report of pedagogical workshops2021 •
Journal of fish diseases
Comparative analyses within Gyrodactylus (Platyhelminthes: Monogenea) mitochondrial genomes and conserved polymerase chain reaction primers for gyrodactylid mitochondrial DNA2016 •
International Journal of Agriculture, Environment and Food Sciences
Present situation of agricultural information needs and accessibility of women farmers in Imbulpe DS division in Sri Lanka2022 •
MATEC Web of Conferences
Synthesis and Characterisation of Struvite Family Crystals by An Aqueous Precipitation Method2016 •
JONA: The Journal of Nursing Administration
Nurses Improving Care to Health System Elders (NICHE)2004 •
International Orthopaedics
The efficacy of autologous platelet gel in pain control and blood loss in total knee arthroplasty2006 •
Jual Custom Spunbond Souvenir
Toko Kain Goodybag Terdekat2016 •
1984 •
Právněhistorické studie
Reflexie československého práva v „Demokratoch“ Janka Jesenského / Reflections of Czechoslovak Law in the “Democrats” by Janko Jesenský2018 •
Journal of Inclusion Phenomena and Macrocyclic Chemistry
Filling the equatorial garland of uranyl ion: its content and limitations2021 •