THE INTERNAL COSTS OF THE FIRM

Monica Dudian, Aurelia Ştefănescu, Rodica Gherghina and Ioana Duca
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Monica Dudian: Academy of Economic Studies, Bucharest
Aurelia Ştefănescu: Academy of Economic Studies, Bucharest

Theoretical and Applied Economics, 2007, vol. 11(516)(supplement)(vol2), issue 11(516)(supplement)(vol2), 331-334

Abstract: The Economics of the firm is affecting in the latest year of a changing perspective, from the firm like production function and market actor to internal organization of the firm. Producing suppose resource allocation by the entrepreneurs or/and managers and cooperation between individuals inside the firm. The existence of the firm like institution implies transaction costs, agency costs, the costs of creating incitation and the costs of reducing flexibility. In addition, the existence of the corporations modifies the costs of transaction and acts like a catalyst for the creation and developments of the other firms.

Keywords: costs; evolutionist firm theory; economy of transaction. (search for similar items in EconPapers)
Date: 2007
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