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Media type:
E-Article
Title:
Capabilities, Transaction Costs, and Firm Boundaries
Contributor:
Argyres, Nicholas S.;
Zenger, Todd R.
Published:
Institute for Operations Research and the Management Sciences (INFORMS), 2012
Published in:
Organization Science, 23 (2012) 6, Seite 1643-1657
Language:
English
DOI:
10.1287/orsc.1110.0736
ISSN:
1047-7039;
1526-5455
Origination:
Footnote:
Description:
<jats:p> Although the literature on firm boundaries has been greatly influenced by transaction cost economics, strategy scholars often emphasize the importance of capabilities considerations in these decisions. This has led to a debate that, we suggest, has generated more heat than light. We argue that the two sets of considerations are in fact so intertwined dynamically that treating them as independent, competitive explanations is fundamentally misleading. We offer a theoretical synthesis of transaction cost and capabilities approaches to firm boundaries that seeks to overcome each approach's limitations and provides a unified and logically consistent understanding of boundary decisions. </jats:p>