Theory of the Firm: Resource Allocation in a Market Economy

Econometrica ◽  
1967 ◽  
Vol 35 (2) ◽  
pp. 365
Author(s):  
Bernard J. Marks ◽  
Kalman J. Cohen ◽  
Richard M. Cyert
Keyword(s):  
Resource Allocation ◽  
Market Economy ◽  
Theory Of The Firm

Theory of the Firm: Resource Allocation in a Market Economy

Econometrica ◽  
1966 ◽  
Vol 34 (4) ◽  
pp. 902
Author(s):  
Kenneth E. Boulding ◽  
Kalman J. Cohen ◽  
Richard M. Cyert
Keyword(s):  
Resource Allocation ◽  
Market Economy ◽  
Theory Of The Firm

Theory of the Firm: Resource Allocation in a Market Economy

1966 ◽  
Vol 32 (4) ◽  
pp. 532
Author(s):  
H. A. John Green ◽  
Kalman J. Cohen ◽  
Richard M. Cyert
Keyword(s):  
Resource Allocation ◽  
Market Economy ◽  
Theory Of The Firm

Theory of the Firm: Resource Allocation in a Market Economy.

1976 ◽  
Vol 71 (354) ◽  
pp. 532
Author(s):  
Ira Horowitz ◽  
Kalman J. Cohen ◽  
Richard M. Cyert
Keyword(s):  
Resource Allocation ◽  
Market Economy ◽  
Theory Of The Firm

Linking Optimal Design Decisions to the Theory of the Firm: The Case of Resource Allocation

2005 ◽  
Vol 127 (3) ◽  
pp. 358 ◽  
Author(s):  
Panayotis Georgiopoulos ◽  
Mattias Jonsson ◽  
Panos Y. Papalambros
Keyword(s):  
Resource Allocation ◽  
Optimal Design ◽  
Theory Of The Firm ◽  
Design Decisions

Comparative Analysis of the Nature of the Firm: Institutional and Evolutionary Approaches

2015 ◽  
Vol 4 (1) ◽  
pp. 68-74
Author(s):  
Горяинова ◽  
L. Goryainova
Keyword(s):  
Comparative Analysis ◽  
Market Economy ◽  
Closed System ◽  
Theory Of The Firm ◽  
Open Market ◽  
Central Location ◽  
Market Economy System ◽  
Transnational Companies ◽  
Economy System

The author substantiates the methodological originality of the Penrose approach in comparison with the approach of Coase theory of the firm. The first part covers the basics of this opposition and the authors ‘ contribution to the theory of the firm. Draws attention to the fact that the Penrose theory is based on the separation of the concepts “information”and “knowledge” and justifying their role in the growth of the firm. Then a comparison of the two opposite perspectives offered by Coase and Penrose in the field of industry. It is suggested that the approach of Coase as a whole is a closed system with the Central location of the firm in this system; whereas, the Penrose approach provides for an open market economy system that became the basis for building a resource the concept of transnational companies (TNCs).

A bottom-up role of information asymmetry: opening the black-box of firms’ resource allocation mechanism

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Riffat Blouch ◽  
Muhammad Majid Khan ◽  
Wajid Shakeel
Keyword(s):  
Resource Allocation ◽  
Information Asymmetry ◽  
Manufacturing Industry ◽  
Theory Of The Firm ◽  
Survey Method ◽  
Unique Contribution ◽  
Bottom Up ◽  
Content Type ◽  
Bottom Level ◽  
Resource Based Theory

Purpose Drawing on the concept of resource-based theory of the firm; the purpose of this study is to analyze the influence of firms’ strategic approaches on the firm performance via indirect effect using a multilevel, bottom-up approach. Design/methodology/approach Using the survey method, the present study obtains data from 104 diversified manufacturing firms and analyzes the bottom-up effect of firms’ strategic approach on efficient resource allocation using Mplus. Findings Given the prevailing conditions, the study found that the motive of most firms is growth rather than risk mitigation or collaboration in the manufacturing sector of Pakistan. Furthermore, the study found that the bottom-level employees’ information asymmetry has a significant impact on the strategic resource allocation decision, which can lead to resource allocation inefficiency. Research limitations/implications Despite making a unique contribution, the present study has few limitations requiring researchers’ attention to in the forthcoming. These include a low amount of data, self-reporting technique and failure to include all the possible reason that could cause resource allocation inefficiency. Practical implications The present research has potential applications for managers of the manufacturing industry. First, the study alerts managers about the challenges of resource allocation. At the same time, this study provides critical implication for managing bottom-level employees. Originality/value The current study has made a sizable impression in the literature of resource-based theory of the firm by recommending a model that augments the theoretical foundation of strategic management of the firm. So, closely considering these insights would be helping for the firms for allocating resources efficiently in the manufacturing industry.

Sign in / Sign up

Export Citation Format

Share Document