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LEARNING OBJECTIVES:
After following this course, students should be able to:
Describe, explain, apply, and reflect on Baldwin's transaction cost theory and the dynamic capabilities perspective and evaluate and compare them with other theories of the firm.
Use theories of the firm to theorise and hypothesise regarding the empirical phenomenon of plural sourcing.
Criticise Williamson's transaction cost theory and analyse and evaluate its relative weaknesses.
Theorise, generalise, hypothesise and reflect upon later research and the development in transaction cost theory.
The purpose of this course is to expose the students to advanced discussions in theories of the firm and strategic management. The focus will be on new or advanced topics in theories of the firm, such as dynamic capabilities, Baldwin's transaction cost theory, plural sourcing, and different modified editions and critiques of the transaction cost framework.
The students are expected to have knowledge of transaction cost theory, the resource dependence theory, agency theory, and the resource-based theory of the firm equivalent to the literature and the learning objectives of the course 4205 Theories of the Firm.
COURSE SUBJECT AREAS:
- Plural forms of governance, mixed governance, and concurrent sourcing
- Dynamic capabilities
- Baldwin's transaction cost theory
- Critique and limitations of Williamson's transaction cost theory
- Modified and extended transaction cost theory and framework(s)
Required course: 4105: Theories of the firm
Jakob Sloth and Niels Peter Mols
Mostly self-study. The self-study is supported by lectures, discussions, consultations, and one paper.
English
Ambrosini, V. and Boman, C. (2009) "What are dynamic capabilities and are they a useful construct in strategic management?", International Journal of Management Reviews, Volume 11, Issue 1, pp 29-49.
Baldwin, C.Y. (2008) "Where do transactions come from? Modularity, transactions, and the boundaries of firms", Industrial and Corporate Change, Volume 17, No. 1, pp. 155-195.
Chiles, T.Y. and McMackin, J.F. (1996) "Integrating variable risk preferences, trust, and transaction cost economics", The Academy of Management Review, Volume 21, No. 1, pp. 73-99.
Erramilli, M.K. and Rao, C.P. (1993) "Service firms' international entry-mode choice: A modified transaction-cost analysis approach", The Journal of Marketing, Volume 57, No. 3, pp. 19-38.
Ghoshal, S. and Moran, P. (1996) "Bad for practice: A critique of the transaction cost theory", The Academy of Management Review, Volume 21, No. 1, pp- 13-47.
Husted, B.W. and Folger, R. (2004) "Fairness and transaction costs: The contribution of organizational justice theory to an integrative model of economic organization", Organization Science, Vol. 15, No. 6, pp. 719-729.
Jacobides, M.G. and Hitt, L.M. (2005) "Losing sight of the forest for the trees? Productive capabilities and gains from trade as drivers of vertical scope", Strategic Management Journal, Vol. 26, pp. 1209-1227.
Nickerson, J.A. and Silverman, B.S. (2003) "Why firms want to organize efficiently and what keeps them from doing so: Inappropriate governance, performance, and adaptation in a deregulated industry", Administrative Science Quarterly, Volume. 48, No. 3, pp. 433-465.
Nooteboom, B., Berger, H. and Noorderhaven, N.G. (1997) "Effects of trust and governance on relational risk", The Academy of Management Journal, Vol. 40, No.2, pp. 308-338.
Parmigiani, A. and Mitchell, W. (2009) "Complementarity, capabilities, and the boundaries of the firm: The impact of within-firm and interfirm expertise on concurrent sourcing of complementary components", Strategic Management Journal, Vol. 30, pp 1065-1091.
Parmigiani, A. (2007) "Why do firms both make and buy? An investigation of concurrent sourcing", Strategic Management Journal, Vol. 28, No. 3, pp. 285-311.
Puranam, P., Gulati, R. and Bhattacharya, S. (2009) "How much to make and how much to buy? An analysis of plural sourcing strategies", working paper, 38 sider.
Steensma, H.K., Marino, L., Weaver, M.K. and Dickson, P.H. (2000) "The influence of national culture on the formation of technology alliances by entrepreneurial firms", The Academy of Management Journal, Vol. 43, No. 5, pp. 951-973.
Zaheer, A. and Venkatraman, N. (1995) "Relational governance as an interorganizational strategy: An empirical test of the role of trust in economic exchange", Strategic Management Journal, Vol. 16, No. 5, pp. 373-392.
Note: There may be a few additional readings
Total number of pages: ca. 350 of which ca. 100 pages will only be used for the mandatory papers, or they will be for cursory reading. (A few articles may be added later).
Individual oral examination of 20 minute's duration based on course curriculum with no preparation time. One mandatory paper has to be handed in to the lecturer and has to be passed before the oral examination.
EXAMINATION AIDS ALLOWED: None for the oral exam
