Evolution, Economic Competence, and the Market for Corporate Control
AbstractTo assess the merits of the market for corporate control, this paper examines two processes which standard analysis does not study: the allocation of economic competence and the evolution of organizational structures. Economic competence is seen to be an unusual scarce resource embodied in the very ways in which individuals and organizations take economic decisions, which guides the allocation of all scarce resources, including itself. Its efficient allocation is shown to require an evolutionary trial-and-error process, where the market for corporate control plays a crucial role.
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Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 215.
Length: 46 pages
Date of creation: Aug 1989
Date of revision:
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More information through EDIRC
Corporate control; evolution of organisational structures; economic competence;
Find related papers by JEL classification:
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
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"Szükséges-e többdimenziós vállalatelmélet?. Az evolúciós vállalatelmélet kritikai összefoglalása
[Is a multi-dimensional theory of the firm necessary?. A critical summary of the evoluti," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 823-841.
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