IDEAS home Printed from https://ideas.repec.org/a/wly/mgtdec/v46y2025i1p163-165.html
   My bibliography  Save this article

Firm theories in neoclassical institutional economics

Author

Listed:
  • Shaoan Huang

Abstract

This paper defines the “new” institutional economics pioneered by Coase's contributionas “neoclassical” institutional economics. It develops the firm theory on the basis of criticizing neoclassical economics for treating firms as black boxes. Coase's contribution is ground‐breaking: He created the transaction cost theory, reinterpreted the origin and essence of firms and the changes in firm size, and analyzed the internal power structure of firms from a contractual perspective. The follow‐up economists build incomplete contract theory, principal–agent theory, team production theory, corporate governance theory, mechanism design theory, and comparative institutional advantage theory to further develop the firm theory. Finally, according to the characteristics of China's economy, this paper provides the future direction of the firm theory.

Suggested Citation

  • Shaoan Huang, 2025. "Firm theories in neoclassical institutional economics," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(1), pages 163-165, January.
    • Handle: RePEc:wly:mgtdec:v:46:y:2025:i:1:p:163-165
    DOI: 10.1002/mde.4366
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/mde.4366
    Download Restriction: no
    File URL: https://libkey.io/10.1002/mde.4366?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
    ---><---

    More about this item

    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:wly:mgtdec:v:46:y:2025:i:1:p:163-165. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Wiley Content Delivery (email available below). General contact details of provider: http://www3.interscience.wiley.com/cgi-bin/jhome/7976 .

    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.