An institutionalist approach to SMEs : the role of power relations and transaction costs

Lah, Marko (avtor), Sušjan, Andrej (avtor)

The article attempts to combine Alfred Eichner’s institutionalist theory of the megacorp and a corresponding definition of small and medium-sized enterprises (SMEs) with transaction cost theory (TCT) based on firms’ asset specificity. We have identified three types of SMEs: subcontracting SMEs as “spokes” within hub-megacorp network, independent SMEs as local competitors of megacorps, and SMEs as partners in cluster networks. The article outlines some distinctive features of the three types and then concentrates on subcontracting SMEs, presenting their submission to megacorp’s power through mark-down pricing and their consequent inability to grow. We mention some illustrative examples from Slovenia, a small transition economy, in which many SMEs have been part of international megacorps’ supply chains. We conclude that TCT, in spite of its neoclassical paradigmatic background, enriches the institutionalist approach to SMEs without changing its evolutionary character, inherited from old institutionalism.

• Jezik: Angleški jezik
• Ključne besede: SMEs, institutionalism, post-keynesianism, theory, small and medium-sized enterprises, Eichner’s megacorp, institutionalist theory of the firm, post-Keynesian economics, transaction costs
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: FDV - Fakulteta za družbene vede ; EF - Ekonomska fakulteta
• Status publikacije: Objavljeno
• Različica publikacije: Objavljena publikacija
• Leto izida: 2022
• Št. strani: Str. 721-740
• Številčenje: Vol. 56, no. 3
• PID: 20.500.12556/RUL-141895
• UDK: 330.1
• ISSN pri članku: 0021-3624
• DOI: 10.1080/00213624.2022.2079933
• COBISS.SI-ID: 123865859
• Datum objave v RUL: 11.10.2022

Gradivo je del revije

• Naslov: Journal of economic issues
• Skrajšan naslov: JEI. J. econ. issues
• Založnik: Taylor & Francis
• ISSN: 0021-3624
• COBISS.SI-ID: 247833

Licence

• Licenca: CC BY-NC-ND 4.0, Creative Commons Priznanje avtorstva-Nekomercialno-Brez predelav 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by-nc-nd/4.0/deed.sl
• Opis: Najbolj omejujoča licenca Creative Commons. Uporabniki lahko prenesejo in delijo delo v nekomercialne namene in ga ne smejo uporabiti za nobene druge namene.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: majhna in srednja podjetja, institutionalizem, postkeynesianizem, teorija