The Corporate Social Responsibility (CSR) theory of the firm states that, in strategic markets, social actions lead to a prisoner's dilemma. This paper develops a model with pollution externalities and environmental taxation to incentivise firms' abatement activities through green R&D...

This paper investigates the formation of production and trading networks in economies with general interdependencies and complex property rights. We argue that the right to exclude, a core tenet of property, grants asset owners local monopoly power that is amplified by an economy's endogenous...

In the concept put forward by the Behavioral Theory of the Firm (BTF), the policies implemented must provide added value to the company. In their preparation, policies will be heavily influenced by decision-makers behavior. This study was conducted to see the company's value dividend policy and...

This paper investigates the role of the market for knowledge in shaping firm hierarchy—that is, the span of control and the number of layers. We predict that, the larger the extent of the market for knowledge, the larger the span of control and the fewer the layers. We test our predictions...

This study introduces a hold-up cost (i.e., the cost of acquiring information regarding a transacting partner's relationship-specific investment to substantiate the need for contract renegotiation) in the model of the property-rights theory. As is widely accepted, the costs of accessing relevant...

This chapter examines the use of family ties in the application of antitrust law. Competition authorities in Argentina, Brazil, Indonesia, and Turkey have relied on family ties in the contexts of merger control and scrutiny of anticompetitive agreements. Authorities have converged in using...

Casual observation suggests that cultural differences play an important role in business transactions, yet systematic evidence on this relationship is scarce. This paper provides a novel investigation of the effect of cultural distance on multinational firms’ decisions to integrate their...

This paper is a continuation and completion of my article “Revisiting Cournot and Neoclassical Economics” (Nomidis 2023). It continues the search for the reasons that led Cournot and later Neoclassical theorists to consider an infinite number of minimal-size firms as a necessary condition...

We constructed a quasi-natural experiment based on the differences in the severity of PM2.5 on the two sides of the 800mm isoline according to the actual distribution of precipitation gradients in China to examine the effects of PM2.5 on corporate evolution and explore the effect of governance...

In the property rights approach to the theory of the firm, ownership matters if parties have to make partly relationship-specific investments, but ownership would be irrelevant if the investments were completely relationship-specific. We show that if negotiations after the investment stage...

A theory helps us to see the world better and ask better questions. In this paper, the Pragmatic Theory of the Firm clarifies the firm’s purpose and showcases the benefits of viewing a firm as a holistic system in which knowledge building is the critical determinant of long-term performance....

This is a comment on Nomidis (2023). Using simple examples, the focus is on the conditions that lead to Cournot’s competitive limit result, showcasing the connections between the Cournot model and competitive equilibrium. Citing original sources, it is argued that the Neoclassical economists...

Casual observation suggests that cultural differences play an important role in business transactions, yet systematic evidence on this relationship is scarce. This paper provides a novel investigation of the effect of cultural distance on multinational firms' decisions to integrate their...

Purpose: The present research aims to study the driver's analysis trajectories (commercial, logistical, and financial) of China's export Performance, comparing eastern countries (Japan) and south-eastern countries (Singapore, Hong Kong, South Korea, Philippines) between 1975 and 2022. For the...