Pattern in Corporate Evolution

Questions relating to the existence and nature of firms have become major issues in economics in recent years. The agenda in this area has been largely set by transaction cost economics (Coase, Williamson), an approach which provides a basis for explaining the boundaries and structure of the firm in a variety of contexts. This book follows the agenda set by transaction cost economics, but is unique in providing improved explanations of individual phenomena as well as a more general framework for analyzing the nature and behavior of firms. He illustrates his argument with sixty figures which present the relations between firms in a graphic form.

Professor of Business Economics at the University of Strathclyde. He was previously Reader in Economics at Heriot-Watt University and also Lecturer at Nottingham and Strathclyde Universities. He has held two Visiting Associate Professorships in the University of California (Irvine, 1980-2) and was Visiting Professor at the European University (Florence, 1987-8). He has been a member of ACOST (Cabinet Office) and DTI working parties. He has advised private and governmental institutions, including the EC Commission and United Nations Development Programme (UNDP). He has published four books and numerous articles of research on industrial economics and corporate strategies, particularly on topics of diversification, multinationalism, and innovation.