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Oliver Williamson and the strategic theory of the firm

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  • Argyres, Nicholas
  • Zenger, Todd

Abstract

Oliver Williamson's contributions to the theory of the firm were of course seminal. Yet, they were not originally formulated to address the central question in strategic management: Why do some firms persistently outperform others in financial terms? We suggest that when Williamson did address this question, his efforts were not compelling. We also suggest, however, that with suitable adjustments, the key mechanisms in Williamson's theory can indeed usefully address this question.

Suggested Citation

  • Argyres, Nicholas & Zenger, Todd, 2022. "Oliver Williamson and the strategic theory of the firm," Journal of Institutional Economics, Cambridge University Press, vol. 18(2), pages 209-217, April.
    • Handle: RePEc:cup:jinsec:v:18:y:2022:i:2:p:209-217_4
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    Cited by:

    1. Jay B. Barney & Asli M. Arikan & Ilgaz Arikan, 2023. "Does IB need a strategic theory of the firm?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(6), pages 1105-1114, August.

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