We survey the phenomenon of the growth of firms drawing on literature from economics, management, and sociology. We begin with a review of empirical 'stylised facts' before discussing theoretical contributions. Firm growth is characterized by a predominant stochastic element, making it difficult...

This paper views authority as the right to undertake decisions that impose externalities on other members of the organization. When only decision rights can be contractually assigned to one of the organization's stakeholders, the optimal assignment minimizes the resulting inefficiencies by...

Die Verbindung von Unternehmen ist keine Erscheinung der letzten Jahre. Vielmehr beruht das Konzept der Merger & Akquisition (M&A) auf grundlegenden wirtschaftstheoretischen Theorien, die in der Diskussion allerdings oftmals von populistischen Motiven für die Fusion im vorliegenden Fall...

This paper explores and explains the emergence and growth of new firms in the knowledge economy. The resource-based view, capabilities approach, and evolutionary economics are used as a foundation for a developmental approach. The development of the firm is conceptualized in terms of processes...