The dramatically growing disproportion between the value of corporate assets and market valuation has resulted in a … this issue. We propose a model which is consistent with both the Resource- and Contractual-Based Theories of the Firm and … which demonstrates that corporate strategy can be perceived as a portfolio of embedded and real options. We further argue …

This paper presents the basics of the Transaction cost theory (TCT) and shows it's contribution to the Theory of the … firm by the view of the new institutional economics. In the first part, author presents resources and presumptions of the … specificity is supposed to reply following questions. Why the firm arise and where is the boundary of the firm? In the second part …