Corporate strategies – the institutional approach

Waśniewski, Krzysztof (2010): Corporate strategies – the institutional approach.

Abstract

The present paper introduces a model of corporate strategies, based on institutional theories of the firm and formalized with the concepts of the theory of games. Corporate strategies are balanced outcomes of four social games: capital market, corporate governance, product market and social responsibility. Two empirical applications of the model are then introduced: a qualitative one, consisting in comparative study of strategies deployed by Royal Dutch Shell and Israel Corporation, then a quantitative one, presenting a study of capital accumulation and operational efficiency in 79 companies listed in the Warsaw Stock Exchange.

• Item Type: MPRA Paper
• Language: English
• Keywords: institutional economics, strategy, corporation
• Subjects: D - Microeconomics > D0 - General > D03 - Behavioral Microeconomics: Underlying Principles; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D53 - Financial Markets; L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty; D - Microeconomics > D2 - Production and Organizations; G - Financial Economics > G1 - General Financial Markets > G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates; D - Microeconomics > D0 - General > D02 - Institutions: Design, Formation, Operations, and Impact; G - Financial Economics > G3 - Corporate Finance and Governance; D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles

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