THE ‘COMPARATIVE INSTITUTIONAL’ THEORY OF THE FIRM: SOME IMPLICATIONS FOR CORPORATE STRATEGY*
Author:
- 1 March 1994
- journal article
- Published by Wiley in Journal of Management Studies
- Vol. 31 (2) , 193-208
Abstract
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.Keywords
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