REVISANDO LA TEORIA DE LA FIRMA

Jorge Tarziján M ()
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Jorge Tarziján M: Escuela de Administración, Pontificia Universidad Católica de Chile

Abante, 2003, vol. 6, issue 2, 149-177

Abstract: This article reviews the main theories of the firm from the strategic management perspective. A theory of the firm intents to explain the nature and scope of a firm. We conclude that the different theories of the firm can be classified following the Coase guidelines, that explain the existence of a firm, and its degree of integration as a trade off between the transaction costs of buying in the market and the coordination costs of producing inside the firm. An important conclusion arising from the analysis is the key role of the complementarity among assets, processes and activities, in the determination of the scope and limits of a firm. According to this result, an important challenge for the strategic management of a company is to determine which one is the combination of activities that maximizes the company´s value.

Keywords: Theory of the firm; Complementary assets; Strategic management (search for similar items in EconPapers)
JEL-codes: D23 L11 L22 (search for similar items in EconPapers)
Date: 2003
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