Created by Arkadiusz J. Derkacz


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Derkacz, A. J. (2020). Institutional determinism of the execution of transactions within the company. Journal of Management and Financial Sciences, (40), 21-41.



institutions, internal organization, organizational behaviour, transactions, business economics, firms






Modern companies, operating in a dynamically changing environment, are subject to the permanent determinism of the institution. On the other hand, companies are more and more often perceived as complex networks of interpersonal relations is often dispersed organizational structures. Relationships seem to play the role of a link between human activities. The latter, being dependent on the level of his/her opportunism, limited rationality, uncertainty and defined costs of transaction execution within the company, take actions consistent with the company's goal. Man-made activities seem to be more and more often characterised by market transactions concluded within the frames of a company. The whole mechanism of company functioning cohabits under the influence of institutional determinism. Such a context of social and economic reality observed within the frame of the company has become a contribution to the emergence of the question which inspires the author's scientific work within the scope of the new institutional economics. What are the reasons for the existence of various forms of transaction organization and ways of their implementation within the company? The following article is an attempt to answer such a question in the context of the theory of institutions. The presented considerations, through the theoretical meanders of neo-institutionalism, ultimately lead to the localization of institutional determinism, which shapes the way transactions are carried out within the company. 

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