Abstract
The transaction cost economics (TCE), in the field of New Institutional Economics, have been shown as one of the most elaborate theoretical and explanatory constructs of arrangements existing in organizational reality. However, recent studies have sought on the Resource Based View (RBV) approach the theoretical foundations about setting these arrangements, in addition to highlighting a required complementarity between TCE and the RVB in understanding how they are formed. In this sense, the objective in this article was to understand how the complementarity theory TCE and RBV explain the configuration of the governance structures in the context of New Institutional Economics. The discussion presented in the form of essay, demonstrated that resources and differentiated capabilities could provide the basis for the proper choice of governance structures. These structures, in turn, are chosen in order to protect and achieve sustainable competitive advantages from these resources. Thus, that the complementary view of TCE with RBV is able to encompass more fully the aspects related to the choice of firm boundaries, minimizing the individual limitations of these approaches in terms of strategic analysis.
Highlights
How the Transaction Costs Economics (TCE) and the Resource-Based View (RBV) explain the governance structures? What are the limitations? How these approaches complement each other in explaining the boundaries of the firm? FromREBRAE, Curitiba, v. 8, n. 2, p.173-193, may./aug. 2015AUGUSTO, C
This paper presents, in addition to this introduction, the following structure: a section highlighting the transaction costs economics, in terms of origin, unit of analysis, characteristics of approach and indication of possible limitations in explaining the existence of organizations only by transaction costs; a second section, in which the Resource Based View (RBV) is described and the reasons based on features and capabilities, as well as its limitations, notably in terms of tautological character and predictive power; and a third section identifying complementary sources of these theories and, the concluding remarks and the references used
The aim was to understand how the complementarity of TCE and RBV theories explain the configuration of governance structures in the context of New Institutional Economics
Summary
How the Transaction Costs Economics (TCE) and the Resource-Based View (RBV) explain the governance structures? What are the limitations? How these approaches complement each other in explaining the boundaries of the firm? From. 29), "the scholars should treat considerations on capacity as inextricably entwined with the logic of the transaction costs, and should endeavor to analyze aspects of this complex interaction", what is the aim of the present investigation In this sense, this paper presents, in addition to this introduction, the following structure: a section highlighting the transaction costs economics, in terms of origin, unit of analysis, characteristics of approach and indication of possible limitations in explaining the existence of organizations only by transaction costs; a second section, in which the RBV is described and the reasons based on features and capabilities, as well as its limitations, notably in terms of tautological character and predictive power; and a third section identifying complementary sources of these theories and, the concluding remarks and the references used. Governance structures discussed in the literature on the Transaction Costs Economics are presented below
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