IDEAS home Printed from https://ideas.repec.org/a/cpn/umkeip/v18y2019i1p73-81.html
   My bibliography  Save this article

The management approach of the new institutional economics

Author

Listed:
  • Bartosz Stelter

    (Nicolaus Copernicus University in Torun)

Abstract

Motivation: The role of corporations in the modern economy is extremely important, in addition, the widely observed oligopolistic markets gave birth to the need for the formulation of the theoretical concept of undertaking explanatory way of large companies, with particular emphasis on the basic objective of the company and the role they play in the markets. The aim of the work is to present alternatives to the traditional neoclassical concept of enterprises, management theory and their critical assessment, as well as an indication of the application values of managerial recognition proceedings of enterprises with an emphasis on the form of its operation. In this work there were presented mainly the views of O.E. Williamson, on the aggregate concept of operation of the company in the light of the theory of transaction costs. Aim: The aim of the article is the analysis of enterprise under the new institutional economics in respect of management science, and to show the intermingling of economics and management, and an attempt to justify the need of their connection. In the article there has been used the world literature and it has been examined for adequacy and being up-to-date to the theme proposed in the article. Results: Most of the discussion in the mainstream of new institutional economics provides indications on the ways and means of raising the efficiency of the sector by striving to achieve aka the institutional balance. New institutional economics offers a fresh look at the decision-making process in organizations; it shows the complexity of this process and indicates the items that have not been previously included, and whose role in this process can be significant. Institutional analysis applies to phenomena and processes, which occur in organizations and its use can lead to beneficial results for them.

Suggested Citation

  • Bartosz Stelter, 2019. "The management approach of the new institutional economics," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 18(1), pages 73-81, March.
    • Handle: RePEc:cpn:umkeip:v:18:y:2019:i:1:p:73-81
    DOI: 10.12775/EiP.2019.006
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.12775/EiP.2019.006
    Download Restriction: no
    File URL: https://libkey.io/10.12775/EiP.2019.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. William G. Ouchi, 1990. "The Economics of Organization," Palgrave Macmillan Books, in: Paul Evans & Yves Doz & André Laurent (ed.), Human Resource Management in International Firms, chapter 0, pages 7-17, Palgrave Macmillan.
    2. Douglass C. North, 2016. "Institutions and Economic Theory," The American Economist, Sage Publications, vol. 61(1), pages 72-76, March.
    3. Selma Sevinç ORHAN, 2016. "In the New Institutional Economics Approach R. Coase and Law, D. North and Social Psychology Context: Pluralist Approach Opportunities in Economics," Sosyoekonomi Journal, Sosyoekonomi Society, issue 24(28).
    4. J-M- Glachant, 2014. "Governance in Network Industries: Lessons Learnt from New Institutional Economics," Competition and Regulation in Network Industries, Intersentia, vol. 15(2), pages 157-177, June.
    5. Buchanan, James M, 1991. "Economics in the Post-Socialist Century," Economic Journal, Royal Economic Society, vol. 101(404), pages 15-21, January.
    6. Jean-Michel Glachant, 2014. "Governance in Network Industries: Lessons Learnt from New Institutional Economics," RSCAS Working Papers 2014/67, European University Institute.
    7. Dzionek-Kozłowska Joanna & Matera Rafał, 2015. "New Institutional Economics’ Perspective on Wealth and Poverty of Nations. Concise Review and General Remarks on Acemoglu and Robinson’s Concept," Scientific Annals of Economics and Business, Sciendo, vol. 62(s1), pages 11-18, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bhatt, Brijesh & Singh, Anoop, 2021. "Power sector reforms and technology adoption in the Indian electricity distribution sector," Energy, Elsevier, vol. 215(PA).
    2. Francesc Trillas Jané, 2016. "Behavioral Regulatory Agencies," Working Papers wpdea1606, Department of Applied Economics at Universitat Autonoma of Barcelona.
    3. John M. Cobin, 2013. "The Effectiveness of Delhi's Fire Safety Regulation Amidst Poverty, Ignorance, Corruption and Non-Compliance," Economic Affairs, Wiley Blackwell, vol. 33(3), pages 361-378, October.
    4. Olsson, Ola, 2000. "A Microeconomic Analysis of Institutions," Working Papers in Economics 25, University of Gothenburg, Department of Economics.
    5. M. Castro Campos & C. Kool & J. Muysken, 2013. "Cross-Country Private Saving Heterogeneity and Culture," De Economist, Springer, vol. 161(2), pages 101-120, June.
    6. Gonzalo Vargas Forero, 2002. "Hacia una teoría del capital social," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 4(6), pages 71-108, January-J.
    7. Erik E. Lehmann & Nikolaus Seitz, 2017. "Freedom and innovation: a country and state level analysis," The Journal of Technology Transfer, Springer, vol. 42(5), pages 1009-1029, October.
    8. Iwona Koza, 2015. "The powers of rural districts in Poland (Kompetencje powiatow ziemskich w Polsce)," Research Reports, University of Warsaw, Faculty of Management, vol. 1(18), pages 37-50.
    9. Jacques Fontanel, 2011. "Mondialisation économique et paix mondiale," Post-Print hal-02147124, HAL.
    10. D. P. O'Brien, 1992. "Economists and Data," British Journal of Industrial Relations, London School of Economics, vol. 30(2), pages 253-285, June.
    11. Voszka, Éva, 2019. "Elvesztett illúziók - reformközgazdászok a rendszerváltásban [Lost illusions - reform economists in the years of transition]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1284-1311.
    12. Christopher A. Hartwell, 2017. "Understanding “Development”: Insights from Some Aspects of Complexity Theory," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 34(2), pages 165-190, November.
    13. Margaret Brunton, 2017. "Risking the Sustainability of the Public Health System: Ethical Conundrums and Ideologically Embedded Reform," Journal of Business Ethics, Springer, vol. 142(4), pages 719-734, June.
    14. Jumanne, Bilali Basesa & Keong, Choong Chee, 2017. "Foreign Direct Investment and Public Sector Management and Institutions: The Acquaintances in Sub-Saharan Africa (SSA) Low-Income Economies," African Journal of Economic Review, African Journal of Economic Review, vol. 5(2), July.
    15. Jan, Stephen & Pronyk, Paul & Kim, Julia, 2008. "Accounting for institutional change in health economic evaluation: A program to tackle HIV/AIDS and gender violence in Southern Africa," Social Science & Medicine, Elsevier, vol. 66(4), pages 922-932, February.
    16. Roxas, Banjo & Chadee, Doren, 2013. "Effects of formal institutions on the performance of the tourism sector in the Philippines: The mediating role of entrepreneurial orientation," Tourism Management, Elsevier, vol. 37(C), pages 1-12.
    17. Shafaeddin, Mehdi, 2009. "Impact of Selectivity and Neutrality of trade Policy Incentives on Industrialization of Developing Countries; Implications for NAMA Negotiations," MPRA Paper 15037, University Library of Munich, Germany.
    18. Dimitris P. SKALKOS, 2018. "Studying the political economy of reforms: The Greek case, 2010-2017," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(615), S), pages 163-186, Summer.
    19. Amankwah-Amoah, Joseph & Lu, Yindfa, 2018. "Historical Evolution of Entrepreneurial Development in the Global South: The Case of Ghana, 1957-2010," MPRA Paper 88179, University Library of Munich, Germany.
    20. Man Zhang & Qian Gao & Hyuk-Soo Cho, 2017. "The effect of sub-national institutions and international entrepreneurial capability on international performance of export-focused SMEs: Evidence from China and South Korea," Journal of International Entrepreneurship, Springer, vol. 15(1), pages 85-110, March.

    More about this item

    Keywords

    utility management; the concept of O.E. Williamson; the concept of R. Coase; transaction costs; agency theory; multi-divisional form;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpn:umkeip:v:18:y:2019:i:1:p:73-81. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Miroslawa Buczynska (email available below). General contact details of provider: http://www.wydawnictwoumk.pl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.