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Family firms and homeland production: reasoning from agency theory and socio-emotional wealth theory
International Journal of Globalisation and Small Business, 2016Agency theory and socio-emotional wealth theory are central when explaining family firm advantages. However, research has not uncovered the extent to which reasoning from these two theories can also explain family firm advantages linked to the homeland production mode. This paper addresses this issue, building on the above-mentioned theories through an
Ingstrup, Mads Bruun +2 more
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The classical theory of production and the capabilities view of the firm
Journal of Economic Studies, 1997Makes the case that the classical theory of production, as developed primarily by Adam Smith, should be seen as a precursor of the modern capabilities view of the firm (Penrose, Richardson, Nelson and Winter, Teece, Langlois and others). Furthermore, based on an empiricist epistemology, Smith developed ideas that are close to modern notions such as ...
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A NOTE ON ADJUSTMENT TO PRODUCTION UNCERTAINTY AND THE THEORY OF THE FIRM
Economic Inquiry, 1990This paper analyzes the impact of production uncertainty on the firm's optimal output decision. If uncertainty is introduced by an additive risk variable, then short‐run optimal output is unchanged, but the owner‐manager's expected utility can change causing long‐run output effects. If uncertainty is introduced by a multiplicative random variable, then
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A Product Market Theory of Training in Firms [PDF]
We develop a product market theory explaining why firms invest in general training of their workers and managers. We consider a model where firms first decide whether to invest in general human capital, then make wage offers for the trained employees in the market and finally engage in product market competition.
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The Economic Theory of Production and Cost in the Multiproduct Firm
1995Although the single product firm often dominates theoretical treatises and textbooks on the economics of the firm, the importance of the multiproduct firm has long been recognised by economists. The first treatment of a firm producing more than one output appeared in John Stuart Mill’s Principles of Political Economy (1st edn 1848).
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Introductory Essays on Aspects of the History of the Theory of Production and the Theory of the Firm
SSRN Electronic Journal, 2020openaire +1 more source
The Resilience of the Firm: A Production Theory Approach
SSRN Electronic Journal, 2017Noah Dormady +2 more
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The Theory of the Firm: Production, Capital, and Finance.
The Journal of Finance, 1969Stanley Reiter, Douglas Vickers
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