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| Author: | Ghoshal, S. Moran, P. |
| Title: | Bad for practice: a critique of the transaction cost theory |
| Journal: | Academy of Management Review
1996 : JAN, VOL. 21:1, p. 13-72 |
| Index terms: | |
| Freeterms: | UNTERNEHMENSSTRATEGIE, WIRTSCHAFTSTHEORIE, MARKETING, KOSTENTHEORIE, ORGANISATIONSTHEORIE |
| Language: | eng |
| Abstract: | Transaction cost economics (TCE), and specifically the version developed by O. Williamson, has become an increasingly important anchor for the analysis of strategic and organizational issues. In this article, the authors argue that prescriptions down from this theory are likely to be not only wrong but also dangerous for corporate managers because of the assumptions and logic on which it is grounded. They argue for the need to build a different theory, more attuned to the realities of organizational economy. The article is followed by a critique by O. Williamson and a reply by the authors of this article. |
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