Abstract
Organisation form has an important impact on business performance. Legal institutions such as laws and legal instruments help to organise the firm. This makes commercial law, the law of corporate governance, and corporate law important research areas in legal science.
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Notes
- 1.
Williamson OE, The Modern Corporation: Origins, Evolution, Attributes, J Econ Lit 19 (1981) p 1543 (on Chandler 1962).
- 2.
For institutions in general, see North DC, Institutions, Institutional Change and Economic Performance. Cambridge U P, Cambridge (1990) pp 3–4 (definition); Ostrom E, Crawford S, Classifying Rules. In: Ostrom E, Understanding Institutional Diversity. Princeton U P, Princeton Oxford (2005), Chapter 7, pp 190–191 (classification); Aoki M, Toward a Comparative Institutional Analysis. The MIT Press, Cambridge, Mass. (2001) pp 26–27, 186 and 197 (elements).
- 3.
For corporate law, see Bratton WW, The New Economic Theory of the Firm: Critical Perspectives from History, Stanford L Rev 41 (1989) pp 1471–1527.
- 4.
See, for example, Merkt H, Wirtschaftsrechtsvergleichung im Zeitalter der Globalisierung: Tendenzen, Aufgaben, Perspektiven, ZVglRWiss 103 (2004) p 266: “Am Ende: von der Wissen- zur Wirtschaft?”
- 5.
See, for example, Bainbridge S, Director Primacy: The Means and Ends of Corporate Governance, Northw U L Rev 97 (2003) pp 547–549.
- 6.
All theories should be functional, but there is a distinction between normative and functional areas of law in legal science.
- 7.
A related approach can be found in Aoki M, Toward a Comparative Institutional Analysis. The MIT Press, Cambridge, Mass. (2001) pp 2–3: “… the synchronic problem, where the goal is to understand the complexity and diversity of overall institutional arrangements across the economies as an instance of multiple equilibria of some kind, and the diachronic problem, whereby the goal is to understand the mechanism of institutional evolution/change in a framework consistent with an equilibrium view of institutions, but allowing for the possibility of the emergence of novelty.”
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Mäntysaari, P. (2012). Introduction. In: Organising the Firm. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-22197-2_1
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DOI: https://doi.org/10.1007/978-3-642-22197-2_1
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