Ever since its emergence in the 1970s the modern economic or Coasian theory of the firm has been discussed and challenged by sociologists, heterodox economists, management scholars, and other critics. This chapter reviews and assesses these critiques, focusing on behavioral issues (bounded rationality and motivation), process (including path dependence and the selection argument), entrepreneurship, and the challenge from knowledge-based theories of the firm.
|Place of Publication||København|
|Publisher||The Center for Knowledge Governance. Department of Management, Politics and Philosophy, Copenhagen Business School|
|Number of pages||24|
|Publication status||Published - Jan 2005|
|Series||CKG Working Paper|
Foss, N. J., & Klein, P. G. (2005). The Theory of the Firm and Its Critics: A Stocktaking and Assessment. The Center for Knowledge Governance. Department of Management, Politics and Philosophy, Copenhagen Business School. CKG Working Paper, No. 2/2005