This paper explores the impact, on an average degree of monopoly used to analyse the functional distribution of income, of transnational corporations (TNC's) producing in and yet trading between several countries. Cowling (1976) and Cowling and Waterson (1976) consider a closed economy and...

A theory of the firm based on strategic decision-making highlights governance as a central issue. Preferences vary over strategy but not all interests are currently being represented, resulting in a failure to govern in the public interest. As solutions, we consider the design of company law and...

Consider a firm with production facilities in various countries - a transnational corporation (TNC). The problem to be discussed in this paper is : why are there such firms? The analysis is essentially theoretical. It attempts to develop a general approach to the problem by drawing upon a...

The paper criticises the conjectural variation model for saying little about the determinants of industry equilibrium. It therefore examines more closely the behaviour underlying firms' actions. Collusion amongst firms focusing on the possibility of joint profit maximisation is brought to the...

The paper suggests that the largely static, ahistorical existing literature on the theory of the firm is inadequate in its treatment of the control issue. It tends to classify firms as either owner or manager controlled using an ex post analysis of share distribution. In contrast, this paper...