Many emerging economies recently have launched ambitious efforts to privatize state-owned enterprises (SOEs). However, not all privatization entails complete ownership transfer from public to private hands. In many industries, especially in infrastructure industries, privatization has often been...

Organisational boundaries can be analysed via a variety of lenses – organisational design principles, transaction cost economics, property rights and agency theory, amongst others. We review these before taking a knowledge-based perspective to firstly explain how the boundaries of the firm are...

This paper revisits two core propositions in the knowledge-based view of the firm propounded in the seminal work by Kogut and Zander (1993): (a) that MNCs exist because transfers and re-combinations of knowledge occur more efficiently inside MNCs than between MNCs and third parties, and (b) the...

In recent years, scholars, practitioners and government agencies have paid increasing attention to project alliancing. Despite the fact that a number of studies have been undertaken to date, a comprehensive review of the previous studies on project alliancing has not appeared. Thus, the purpose...

Australia has adopted public-private partnership (PPP) as a major strategy for procuring infrastructure for decades. However, even though considered to be a mature and sophisticated market, several major failures have occurred resulting in increasing financial burdens on taxpayers. Failures have...

In international food markets, voluntary traceability systems have increasedtheir role in guaranteeing high safety and quality standards for the consumer. Suchsystems are also among the strategies firms employ to differentiate products andstrengthen competitive advantage in both the national and...

Most markets have evolved as buyers and sellers constantly search for ways to create value, however this has not occurred naturally in all areas of the economy – markets are missing for some goods, including the environment. In such cases, transaction costs linked to property rights, asymmetric...

This paper presents an analysis of agricultural contracts using a transaction costs approach. We contend that in a context of modern agriculture, with well defined property rights, agricultural contracts must balance costs and benefits, aligning tenant and landlord incentives towards a similar...

"Fisheries co-management as an alternative to centralised command and control fisheries management is often suggested as a solution to the problems of fisheries resource use conflicts and overexploitation. Various researchers have talked of the importance of studying the role of transaction...

Published as Feeny, David, "Sub-Optimality and Transaction Costs on the Commons," in Edna Tusak Loehman and D. Marc Kilgour (eds.), Designing Institutions for Environmental and Resource Management (Cheltenham, Edward Elgar Publishing, Ltd., 1998), 124-141. "Much of the literature on the...