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The intermediation theory of the firm: integrating economic and management approaches to strategy

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  • Daniel F. Spulber

    (Northwestern University, Evanston, USA)

Abstract

Economic and management perspectives on management strategy can and should be integrated. The intermediation theory of the firm and models of market microstructure provide a basis for advancing the integration of management and economics perspectives. In particular, the theory allows for a combination of economic approaches such as Porter's work on competitive strategy with management approaches such as work on the abilities and resources of the organization. The article presents a unified strategy framework based on transaction costs and the intermediation theory of the firm. Copyright © 2003 John Wiley & Sons, Ltd.

Suggested Citation

  • Daniel F. Spulber, 2003. "The intermediation theory of the firm: integrating economic and management approaches to strategy," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 253-266.
    • Handle: RePEc:wly:mgtdec:v:24:y:2003:i:4:p:253-266
    DOI: 10.1002/mde.1120
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    References listed on IDEAS

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    1. Daniel F. Spulber, 1996. "Market Microstructure and Intermediation," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 135-152, Summer.
    2. Demsetz, Harold, 1973. "Industry Structure, Market Rivalry, and Public Policy," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 1-9, April.
    3. Spulber,Daniel F., 1999. "Market Microstructure," Cambridge Books, Cambridge University Press, number 9780521650250.
    4. David Lucking-Reiley & Daniel F. Spulber, 2001. "Business-to-Business Electronic Commerce," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 55-68, Winter.
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    Cited by:

    1. Jonathan P. O'Brien & Timothy B. Folta, 2009. "A transaction cost perspective on why, how, and when cash impacts firm performance," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(7), pages 465-479.
    2. Mark Alan Heuer & Usman Khalid & Stefan Seuring, 2020. "Bottoms up: Delivering sustainable value in the base of the pyramid," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1605-1616, March.
    3. Rahmeyer Fritz, 2013. "Schumpeter, Marshall, and Neo-Schumpeterian Evolutionary Economics: A Critical Stocktaking," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 233(1), pages 39-64, February.
    4. Wong, Wai Peng & Soh, Keng Lin & Chong, Chu Le, 2016. "Differentiated service consumption and low cost production: Striking a balance for a sustainable competitive advantage in Malaysia," International Journal of Production Economics, Elsevier, vol. 181(PB), pages 450-459.
    5. Salvetat, David & Géraudel, Mickaël, 2012. "The tertius roles in a coopetitive context: The case of the European aeronautical and aerospace engineering sector," European Management Journal, Elsevier, vol. 30(6), pages 603-614.
    6. Fritz Rahmeyer, 2010. "A Neo-Darwinian Foundation of Evolutionary Economics. With an Application to the Theory of the Firm," Discussion Paper Series 309, Universitaet Augsburg, Institute for Economics.
    7. Xiang, Qian & Lin, Daomi & Wang, Jianjing, 2023. "The Formation, Consolidation, and Transition of International Brokerage Networks: The Case of an International New Venture in an Emerging Market," Journal of International Management, Elsevier, vol. 29(1).
    8. Wai Wong & Noor Hazlina Ahmad & Aizzat Mohd. Nasurdin & Marini Mohamad, 2014. "The impact of external environmental on business process management and organizational performance," Service Business, Springer;Pan-Pacific Business Association, vol. 8(4), pages 559-586, December.
    9. repec:dau:papers:123456789/12317 is not listed on IDEAS
    10. Peng, Mike W. & Lee, Seung-Hyun & Hong, Sungjin J., 2014. "Entrepreneurs as intermediaries," Journal of World Business, Elsevier, vol. 49(1), pages 21-31.

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