89-112

The theory of the firm : R H. Coase - 66 years later: a review article

• Φαφαλιού, Ειρήνη
• Πέκκα - Οικονόμου, Βικτωρία

This paper is an elaboration of the major economic perspectives on the firm's nature, operation and organization since Coase (1937) pioneering work. All approaches to the theory of the firm, attempted till the new economy era, are examined under three main categories of reference, that is: transaction cost theories, contractual theories, and property rights theories. We argue that all of the above three or other approaches, more recently developed, are complementary and provide a better understanding of economic organizations such as firms, but still there is a long road towards a coherent theory of the firm that captures the real context of corporate governance in the Internet era.

• Economics and Business

• Διοίκηση επιχειρήσεων

transaction cost theories, contractual theories, property rights theories, corporate governance

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