Pattern in Corporate Evolution

Neil Kay follows the agenda set by transaction cost economics, providing explanations of individual phenomena as well as a more general framework for analyzing the nature and behaviour of firms. He illustrates his argument which presents relations between firms in a graphic form. Questions relating to the existence and nature of firms have become major issues in economics in recent years. In this major new work, Neil Kay provides original explanations for many individual phenomena in this area. The analysis is set in the context of an integrative framework for analysing the boundaries and structure of the firm. The book analyses the firm as a complex system in which links composed of shared resources constitute basic building blocks. The evolution of the firm from simple beginnings to complex system is then studied in a number of areas, including vertical integration, diversification, multi- national enterprise, joint venture, alliance, network, and internal organization. Neil Kay's analysis advances current theories of the firm and will be essential reading for students and academics in the areas of business economics, strategic management, and organization theory.