Institutional and evolutionary economists have recognized that organizations are social as well as economic entities, but in modern evolutionary theories of the firm the social aspect of economic organization is typically lost. This is a result of the fact that these theories take the existence...

Efforts to develop a managerially meaningful alternative to the neoclassical theory of the firm have always been an important part of theory development in marketing. This paper argues that the main explanandum of a managerial theory of the firm is performance differentials between firms....