Abstract: The Economics of the firm is affecting in the latest year of a changing perspective, from the firm like production function and market actor to internal organization of the firm. Producing suppose resource allocation by the entrepreneurs or/and managers and cooperation between individuals inside the firm. The existence of the firm like institution implies transaction costs, agency costs, the costs of creating incitation and the costs of reducing flexibility. In addition, the existence of the corporations modifies the costs of transaction and acts like a catalyst for the creation and developments of the other firms.
Publication Year: 2007
Publication Date: 2007-01-01
Language: en
Type: article
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