Oliver Williamson and the strategic theory of the firm

Nicholas Argyres; Todd Zenger

doi:10.1017/S1744137421000539

Oliver Williamson and the strategic theory of the firm

Nicholas Argyres
, Todd Zenger

Research output: Contribution to journal › Article › peer-review

5 Scopus citations

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.

Original language	English
Pages (from-to)	209-217
Number of pages	9
Journal	Journal of Institutional Economics
Volume	18
Issue number	2
DOIs	https://doi.org/10.1017/S1744137421000539
State	Published - Apr 9 2022

Keywords

strategy
Theory of the firm
transaction costs

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10.1017/S1744137421000539

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title = "Oliver Williamson and the strategic theory of the firm",

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.",

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AB - 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.

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KW - Theory of the firm

KW - transaction costs

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Oliver Williamson and the strategic theory of the firm

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Keywords

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