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Social Norms and the Theory of the Firm - A Foundational Approach (Paperback)
Loot Price: R1,086
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Social Norms and the Theory of the Firm - A Foundational Approach (Paperback)
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For decades, the economic theory of the firm referred to as agency
theory has dominated business research and education in the United
States. Although agency theory has been influential in accounting,
finance, and managerial economics, it lacks informal and
nonfinancial controls. Douglas E. Stevens resolves to enhance this
theory through the incorporation of social norms. Drawing on
historical context related to the firm, the theory of the firm, and
social norm theory related to the firm, he demonstrates the
importance of social norms in the formation and development of
free-market capitalism and the firm. He also describes the latest
theoretical, experimental, and archival evidence to exhibit the
growing body of research that incorporates social norms into the
theory of the firm. These foundations enable Stevens to create a
comprehensive roadmap of agency theory that will have strong
implications for practice and public policy.
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