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| Author: | Hennart, J. |
| Title: | The "comparative institutional" theory of the firm: some implications for corporate strategy |
| Journal: | Journal of Management Studies
1994 : MAR, VOL. 31:2, p. 193-207 |
| Index terms: | FIRM (THEORY OF) STRATEGY CORPORATE STRATEGY |
| Language: | eng |
| Abstract: | Considerable progress has been made in the last ten years in developing a theory of institutional choice based on the minimization of organizing costs. This article outlines a rationale for the existence of firms and derives its implications for corporate strategy. It argues that one important source of sustainable rents is the ability of firms to reduce the costs they experience in organizing both internal and external transaction below those of their rivals. |
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