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《Economic Research Journal》 2001-03
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Specificity, Exclusiveness and Enterprise Institution

Yang Ruilong & Yang Qijing  
In this paper, we consider that the ultimate purpose of the firm is to create and distribute the organizational rent, although the arrangements of residual claim right and control is very important. A lot of literatures confuse the “specificity” with the economic base which can help the interested parties obtain some organizational rent, but in fact “specificity” will weaken the interested parties' bargaining power. We put forward that the base of bargaining power is virtually the “exclusiveness”, a variable that exercises a great impact on the choice and evolution of enterprise instituion. In short,we consider that in reality the enterprise's institutional arrangements is not the product of social welfare maximization or transational cost minimization,but the outcome of games among rational interested parties.
【CateGory Index】: F271
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【References】
Chinese Journal Full-text Database 10 Hits
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