The Growth of the Firm: The Legacy of Edith Penrose

Paperback | February 1, 2002

EditorChristos Pitelis

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Edith Penrose has been one of the most significant economists of the second part of the twentieth century. Her contribution to the theory of the firm has reinvented and productively developed the classical tradition in economics. It has informed the currently dominant resource/knowledge-basedtheory of the firm. Penrose's contribution, however, extends to a great variety of areas, to include industry organization, strategic management, international business, human resource management, economics of innovation and technological change, history, methodology, macroeconomics, and much more.This volume builds on a special issue of Contributions to Political Economy, that celebrated forty years since Penrose's classic The Theory of the Growth of the Firm. It includes fourteen chapters by leading contributors on the aforementioned aspects of Penrose's work. This book celebrates Penrose's contribution to economics and management. Leading scholars (including such 'classic' names as Robin Marris and George Richardson), assess Penrose's contribution to economics, strategic management, industry organization, and more. Using a Penrosean lens, these authorsaddress the most important issues such as resource allocation and resource creation, co-ordination, innovation and growth. They cover topics ranging from the nature of the firm, firm growth, and strategy, to multinational firms, industry organization, innovation, and economic development. In sodoing, they make contributions to scholarship of the highest quality, with significant implications for business and government policy on competition, industry, and development.

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Edith Penrose has been one of the most significant economists of the second part of the twentieth century. Her contribution to the theory of the firm has reinvented and productively developed the classical tradition in economics. It has informed the currently dominant resource/knowledge-basedtheory of the firm. Penrose's contribution, ...

Christos Pitelis is Director of the Centre for International Business and Management at the Judge Institute of Management Studies, Cambridge University. He is also Director of Studies in Management and Fellow in Economics at Queens' College, Cambridge. He has taught at the universities of Warwick, Nottingham, St. Andrews, and Athens, ...

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Format:PaperbackDimensions:336 pages, 9.21 × 6.14 × 0.7 inPublished:February 1, 2002Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199248524

ISBN - 13:9780199248520

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Table of Contents

1. C. Pitelis: Introduction and Overview2. P. Penrose and C. Pitelis: Edith Elura Tilton Penrose: Life, contribution, and influence3. G. B. Richardson: Mrs Penrose and Neoclassical Theory4. B. J. Loasby: The Significance of Penrose's Theory for the Development of Economics5. R. Marris: Edith Penrose and Economics6. N. Kay: Hercules and Penrose7. E. Garnsey: The Growth of New Ventures: Analysis after Penrose8. C. Pitelis: A Theory of the (Growth of the) Transnational Firm: A Penrosean perspective9. N. J. Foss: Edith Penrose, Economics, and Strategic Management10. J. T. Ravix: Edith T. Penrose and Ronald H. Coase on the Nature of the Firm and the Nature of Industry11. M. H. Best: Regional Growth Dynamics: A capabilities perspective12. M. Turvani: Mismatching by Design: Explaining the dynamics of innovative capabilities of the firm with a Penrosean mark13. J. Cantwell: Innovation, Profits, and Growth: Penrose and Schumpeter14. W. Lazonick: The US Corporate Enterprise and 'The Theory of the Growth of the Firm'15. S. Ghoshal, M. Hahn, and P. Moran: Management Competence, Firm Growth, and Economic Progress

Editorial Reviews

"Fifteen papers ... focus on the life, contributions, and influence of Edith Penrose; Penrose and neoclassical theory; the significance of Penrose's theory for the development of economics; a constructive critique of the Penrose picture of the firm; Penrose's analysis of the growth process of the Hercules Powder Company in 1960 and the subsequent development of the company; the growth of new ventures; a Penrosean perspective on the theory of the growth of the transnational firm; Penrose, economics, and strategic management; Penrose and Ronald H. Coase on the nature of the firm and the nature of industry; a capabilities perspective on regional growth dynamics; features that are responsible for promoting and limiting the capability of firms to innovate; Penrose and Joseph Shumpeter on innovation, profits, and growth; the U.S. industrial corporation and The Theory of the Growth of the Firm; and management competence, firm growth, and economic progress."--Journal of Economic Literature