The Transactional Analysis of the Firm
Abstract
The present article aims to outline the theory of the firm that derives from a transactional analysis grounded in the New Institutional Economics. In this framework, the firm no longer constitutes a mere chapter of the neoclassical theory of market, but instead represents a well-defined structure of contracts. Critical approaches to Neoclassical Economics focusing on the problems of bounded rationality, imperfect information and uncertainty, such as the Theory of Property Rights, the Theory of Transaction Costs and Agency Theory, have amended the neoclassical model of the firm, seeking to adapt it to the managerial model in which actual control of the firm is not in the hands of legal owners but those of professional managers.Keywords
transaction costs, bounded rationality, institutions, agency relationshipPublished
2011-10-01
How to Cite
Brunet, I., Baltar, F., & Gregori Gomis, A. (2011). The Transactional Analysis of the Firm. Papers. Revista De Sociologia, 96(4), 1363–1385. https://doi.org/10.5565/rev/papers/v96n4.253
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Copyright (c) 2011 Ignasi Brunet, Fabiola Baltar, Aleix Gregori Gomis

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