International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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THEORIES ON FIRM BEHAVIOUR: A REVIEW

    2 Author(s):  DIVYA SETHI , DEEKSHA SETHI

Vol -  8, Issue- 2 ,         Page(s) : 278 - 283  (2017 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

Abstract The paper discusses some seminal works on firm behaviour from some of the very eminent researchers. They have played a major role in shaping the concepts related to theories on firm behaviour that we study today. The two theories discussed in this paper include: a behavioural theory of the firm propagated by Richard M. Cyert and James G. March; and transaction cost economics and its behavioral assumptions propounded by Oliver E. Williamson.These concepts are the foundation of the some of the most widely used theories on firm behaviour that we use today in the field of management.

  1. Richard M. Cyert, James G. March (1963) A Behavioral Theory of the Firm, Oxford: Blackwell
  2. Oliver E. Williamson (1986) The Economic Institutions of Capitalism MA: Free Press

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