Description
Book SynopsisSince the publication of Oliver Williamson's "Economic Institutions of Capitalism" in 1985, new institutional economics approaches have increasingly been used to understand strategic challenges. "Economic Institutions of Strategy" (EIS) offers an interconnected set of papers that reviews and extends the economic institutional approach to business and corporate strategy bringing together the disparate strands of new institutional economics-based strategy research in a single comprehensive source. The contributors to this volume focus on new institutional economics' insights regarding diversification, alliances, franchising, geographic location, innovation, and other strategic choices. Each contributor uses either a single influential article - with excerpts reprinted - or a survey of the literature to ask and answer three questions: What is the current state of the art in new institutional economics' contribution to fundamental strategic questions? Where has this approach succeeded most, and what gaps remain?
Table of ContentsIntroduction. Transaction costs in technology transfer and implications for strategy. Organizational economics insights from acquisitions research. Opportunities and new business models: Transaction cost and property rights perspectives on entrepreneurship. The problem solving perspective: A strategic approach to understanding environment and organization. The future of interfirm contract research: Opportunities based on prior research and nontraditional tools. Alliances and performance. A strategic look at the organizational form of franchising. Internal organization from a transaction cost perspective. Strategic organization of R&D. Limits to the scale and scope of the firm. Diversification, industry structure, and firm strategy: An organizational economics perspective. Intellectual property regimes and firm strategy: putting Hall and Ziedonis (2001) in perspective. Value creation and appropriation through geographic strategy: evidence from foreign direct investment. Beyond the economic institutions of strategy: Strategic responses to institutional variation. Integrated political strategy. Contracting with governments. New frontiers in strategic management of organizational change. Foreword to economic institutions of strategy. List of Contributors. Advances in Strategic Management. Economic Institutions of Strategy. Copyright page. Reprinted Article Putting patents in context: Exploring knowledge transfer from MIT. Reprinted Article Appropriability hazards and governance in strategic alliances: A transaction cost approach. Reprinted Article The patent paradox revisited: an empirical study of patenting in the U.S. semiconductor industry, 1979–1995. Reprinted Article The institutional environment for multinational investment.
