CONCEPTUAL ASPECTS OF FORMING TRANSACTION COST THEORY AS A COMPONENT OF EVOLUTIONARY DEVELOPMENT OF THE FIRM THEORY
Journal Title: Проблеми і перспективи розвитку підприємництва - Year 2014, Vol 2, Issue 2
Abstract
The subject of research is the process of formation and development of scientific approaches to the formation the theory of transaction costs in the system of the firm theory evolution. The purpose of the research is to analyze the scientific approach and identify prerequisites of the formation theory of transaction costs as an element of the general theory of the firm management. The methodological basis of research is the dialectical method of scientific knowledge, the fundamental provisions of the general economic theory, history of management, institutional economics, evolutionary theory of the firm and the theory of transaction costs. Solving the assigned tasks of the research there were used the following methods: a retrospective analysis (in the study of evolution the nature of the firm), systematic approach and methods of scientific generalization (in determining features of scientific fields in forming theory of the firm), abstract-logical and systematic-structural analysis (in the formation the theory of transaction costs in the general system of firm management). During the research there were discovered and proved the main directions and features of the firm development, namely: from the standpoint of technological approach, game theory, institutional approach. Based on the analysis the author identified prerequisites for the formation the theory of transaction costs as an element of the general theory of the firm management. Since the units of analysis in the theory of transaction costs are different kinds of transactions, execution of which are accompanied by transaction costs. The field of application of conducted research results is the theory and practice of the firm management. In the result of conducted analysis to research of approaches the nature of the firm can be drawn some conclusions: in the current conditions of the institutional environment development, the firm is not only a technological unit but "a bunch of contracts." Activity of the firm is directed on effective interaction with other economic entities of the institutional environment on the basis of concluding agreements and minimizing transaction costs.
Authors and Affiliations
Victoria Martynets
Keywords
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