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In its Fourth Edition, this textbook explores how economic activity is organised from a new institutional economics perspective. Using transactions costs as a continuing theme, the book delivers the necessary skills to understand the evolution of organisational forms and the strengths and weaknesses of different varieties of private and public governance. The importance of entrepreneurship is emphasised throughout. Public policy concerning competition, regulation and the public utilities is used to illustrate the involvement of subjective judgements about transactions costs in all types of...

In its Fourth Edition, this textbook explores how economic activity is organised from a new institutional economics perspective. Using transactions costs as a continuing theme, the book delivers the necessary skills to understand the evolution of organisational forms and the strengths and weaknesses of different varieties of private and public governance. The importance of entrepreneurship is emphasised throughout. Public policy concerning competition, regulation and the public utilities is used to illustrate the involvement of subjective judgements about transactions costs in all types of...

In recent years there has been a growth in work on the organization of the firm. The same period has also seen a corresponding rise in literature dealing with the organization of the multinational firm, but the two literatures have developed quite separately, even though insights from each have much to offer the other. This unique collection of essays from respected academics aims to bridge this gap, addressing questions of the theory of the firm and international business.
The material is presented in three sections:
* The first section deals with theoretical issues underpinning...

This collection of essays addresses questions of the theory of the firm and international business. The first section deals with theoretical issues underpinning multinational enterprise. These are the issues of information, re-engineering and change management and international trade. The second section concentrates on the inter-firm relationships of multinationals, assessing the interplay of co-operation and adversarial behaviour. The third section deals with applications of the principles presented in the first two sections. The applications concern the defence equipment industry the world...