Short Essay on Coase’s article: “The Nature of the Firm” Coase’s article “The Nature of the Firm” provides a set of answers to important questions such as “Why do firms exist?” “What characterizes firms?” and “What determines their scale and scope?” According to Coase‚ a firm has to find the most cheap‚ most productive goods and services by establishing contracts in an open‚ efficient market place. However‚ market places are not that pure to let firms to succeed in their needs; they are not fluid. This
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Imperfection Makes Perfect ‘It’s these little imperfections that make them perfect for you.’ -- a Singapore public service advertisement Perfection is unattainable. This is one of the greatest and simplest truths of life. Imperfection is what makes us human. To strive for perfection beyond the human and the recognition is fatal‚ which is well manifested in Nathaniel Hawthorne’s Birthmark. Throughout the story‚ Alymer tries to perfect his wife Georgiana
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This paper integrates elements from the theory of agency‚ the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We focus in this paper on the behavioral implications of the property rights specified in the contracts between the owners and managers of the firm. The possibility of monitoring the behavior of the company by means of review of controls has stayed aside in this analysis. In the activity they can use resources for changing
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www.pwc.com/tl2030 Transportation & Logistics 2030 Volume 4: Securing the supply chain Strategies to help companies take an active role in improving supply chain security. Acknowledgements The editorial board of this issue of our Transportation & Logistics 2030 series consisted of the following individuals: PwC Klaus-Dieter Ruske +49 211 981 2877 klaus-dieter.ruske@de.pwc.com Dr. Peter Kauschke +49 211 981 2167 peter.kauschke@de.pwc.com Gautam Basu +358 5040 16830 gautam.basu@fi.pwc
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Quality and Cost of Debt Capital for Private Firms: Evidence from Finland Jukka Karjalainen Department of Business University of Eastern Finland April 10‚ 2010 Abstract The purpose of this paper is to examine the value relevance of the perceived audit quality in terms of who audits‚ as well as the audit outcomes in terms of the auditor’s opinion and accruals quality‚ in the pricing of debt capital for privately-held firms by examining a large sample of privately-held Finnish firms. The findings
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Economies of scale are the main drivers of corporate gigantism in the 20th century. Economies of scale simply refers to the cost benefit achieved with an increasing output / product unit. Economies of scale exist due to the inverse relationship between quantity produced and per-unit fixed costs ; the higher the quantity produced‚ the lower the cost per unit. Economies of scale can be seen in an orange juice production. The more orders ‚ or the more fruits‚ the growers harvest‚ the more savings
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ECONOMIES OF SCALE Economies of scale are basically the increase in efficiency of production as the number of goods being produced in a firm increases. Typically‚ a firm that achieves economies of scale lowers the average cost per unit through increased production since fixed costs are shared over an increased number of goods. Fixed costs are those costs of production that do not change when output changes. There are two types of Economies of Scale: Internal economies External economies Internal
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article “The Sports Business as a Labor Market Laboratory‚” by Lawrence M. Kahn focuses on data on the rise and fall of rival sports leagues and the granting of free agency rights in professional sports and other things. I read pages seventy-five to eighty-three of the article. Overall‚ sports owners are a small and interconnected group. This suggests that they have the ability to band together and act as monopsonists in paying their players. A monopsony is a market condition that exists when there
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a successful employment rate‚ and a well rounded trade market‚ it is essential to have a good transportation system. Transportation became a big factor when industrialization occured. Countries wanted a quicker more efficient way to trade goods‚ and people wanted a faster way to travel to their jobs‚ in and out of cities and countries. Modern transportation impacted the trade market greatly. Countries needed a cheap‚ fast way to get goods from place to place. Because of railroads‚ the availability
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governments should invest in railways rather than roads The population explosion results in the high demands of transportation. Many countries have suffered from pollution‚ noisy and casualty for a long time. From my perspective‚ the most possible solution to these problems is improving roads and highways because of three below crucial reasons. First and foremost‚ we all know that upgrading public transportation will surely aggravate the pollution and accidents. The buses‚ cars and trains regularly
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