"The Nature of the Firm"
E455286
"The Nature of the Firm" is a foundational 1937 economic essay by Ronald Coase that explains why firms exist and how transaction costs shape their size and structure.
Observed surface forms (1)
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| The Nature of the Firm | 0 |
Statements (47)
| Predicate | Object |
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| instanceOf |
academic article
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economic essay ⓘ work on the theory of the firm ⓘ |
| approach | institutional analysis of markets and firms ⓘ |
| argues |
firms arise when internal organization is less costly than market transactions
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the boundary of the firm is determined where internal costs equal market transaction costs ⓘ |
| author | Ronald Coase NERFINISHED ⓘ |
| citationStyleTitle | “The Nature of the Firm” NERFINISHED ⓘ |
| contributedTo | Ronald Coase receiving the Nobel Memorial Prize in Economic Sciences ⓘ |
| countryOfOrigin | United Kingdom ⓘ |
| explains |
how transaction costs influence the formation of firms
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how transaction costs influence the internal structure of firms ⓘ how transaction costs influence the size of firms ⓘ why firms exist instead of all production being organized through markets ⓘ |
| field |
economics
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institutional economics ⓘ law and economics ⓘ |
| hasImpactOn |
Coasean theory of the firm
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development of transaction cost economics ⓘ |
| hasReprintIn |
anthologies on the theory of the firm
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various collections of Coase’s essays ⓘ |
| influencedField |
business strategy
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contract theory ⓘ corporate governance theory ⓘ industrial organization ⓘ organizational economics ⓘ |
| introducesConcept | transaction costs in using the price mechanism ⓘ |
| keyConcept |
comparative costs of planning versus markets
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costs of using the price mechanism ⓘ internal organization costs ⓘ market transaction costs ⓘ |
| language | English ⓘ |
| mainTopic |
boundaries of the firm
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existence of firms ⓘ firm size ⓘ market versus hierarchy ⓘ theory of the firm NERFINISHED ⓘ transaction costs ⓘ |
| methodology | theoretical analysis ⓘ |
| publicationDate | November 1937 ⓘ |
| publicationType | journal article ⓘ |
| publicationYear | 1937 ⓘ |
| publishedIn | Economica NERFINISHED ⓘ |
| recognizedAs |
classic in the theory of the firm
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foundational work in transaction cost economics ⓘ |
| relatedWorkByAuthor | The Problem of Social Cost NERFINISHED ⓘ |
| timePeriodDiscussed | early 20th century industrial organization ⓘ |
Referenced by (1)
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