Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

The paper discusses the role of communication technologies in reducing the costs of using market exchange. It analyzes the comparative effect of new technologies on transactions which take place within and outside the firm using Coase’s postulate of the size of the firm. Technologically...

Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

The paper discusses the role of communication technologies in reducing the costs of using market exchange. It analyzes the comparative effect of new technologies on transactions which take place within and outside the firm using Coase's postulate of the size of the firm. Technologically...