Abstract
| Original language | English |
|---|---|
| Place of Publication | København |
| Number of pages | 34 |
| Publication status | Published - 2003 |
Cite this
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Value and Transaction Costs : Building Bridges Between the Economics of Property Rights and Strategic Management. / Foss, Kirsten; Foss, Nicolai Juul.
København, 2003.Research output: Working paper › Research
TY - UNPB
T1 - Value and Transaction Costs
T2 - Building Bridges Between the Economics of Property Rights and Strategic Management
AU - Foss, Kirsten
AU - Foss, Nicolai Juul
PY - 2003
Y1 - 2003
N2 - AbstractWe forge linkages between the economics of property rights (Coase, Demsetz,Cheung, Barzel) and strategic management. Property rights to resources consistof the rights to consume, obtain income from, and alienate these resources.Transaction costs are the costs of exchanging, protecting and capturing propertyrights. We clarify the key role of transaction costs with respect to understandingvalue creation and the limitations and opportunities of strategizing relative tocompetitive forces. The economics of property rights identifies new sources ofvalue creation (i.e., reducing the dissipation caused by transaction costs), andnew types of resources (i.e., capture and protection capabilities), clarifies the roleof contracting in the exercise of market power, and suggests that `strategizing'and `economizing' perspectives are related to a larger extent than is normallyrecognized. Refutable propositions are derived.
AB - AbstractWe forge linkages between the economics of property rights (Coase, Demsetz,Cheung, Barzel) and strategic management. Property rights to resources consistof the rights to consume, obtain income from, and alienate these resources.Transaction costs are the costs of exchanging, protecting and capturing propertyrights. We clarify the key role of transaction costs with respect to understandingvalue creation and the limitations and opportunities of strategizing relative tocompetitive forces. The economics of property rights identifies new sources ofvalue creation (i.e., reducing the dissipation caused by transaction costs), andnew types of resources (i.e., capture and protection capabilities), clarifies the roleof contracting in the exercise of market power, and suggests that `strategizing'and `economizing' perspectives are related to a larger extent than is normallyrecognized. Refutable propositions are derived.
KW - property rights
KW - transaktionsomkostninger
KW - strategisk ledelse
M3 - Working paper
BT - Value and Transaction Costs
CY - København
ER -