Edith Penrose's Legacy
Shaping Economics, Management, and Political Economy
- 290 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
Edith Penrose's Legacy
Shaping Economics, Management, and Political Economy
About this book
Edith Penrose is best known for The Theory of the Growth of the Firm, originally published in 1959, but she made major contributions in other fields, including patents, the oil industry, and development economics. This book explores her work and legacy, not just on economics ā she was the founding Head of Department of Economics at SOAS University of London - but also on the related fields of management and political economy where her contribution has had significant impact.
Penrose challenged the conventional wisdom of economics by opening up the 'black box' view of the firm to explore what goes on inside, in particular how resources are managed and renewed to influence growth and innovation. Her analysis was cognisant of the wider political economy context in which firms operate, recognising the different impact of large international firms on developing and developed countries. Penrose's work has shaped modern theories of strategic management including the resource-based view of the firm and the dynamic capabilities approach.
The chapters in this volume, from leading economists and management scholars, cover a range of topics including innovation, collaboration between firms and universities, and the practice and consequences of share buy-backs, highlighting the value of a Penrosian perspective and the extent of her legacy. This book will be relevant to students and scholars of economics, management, and political economy.
This book was originally published as a special issue of International Review of Applied Economics.
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Information
Table of contents
- Cover
- Half Title
- Title Page
- Copyright Page
- Contents
- Citation Information
- Notes on Contributors
- Preface ā Edith Penrose: Legacy and impact
- 1 Edith Penroseās influence on economic analysis, strategic management and political economy
- 2 Edith Penrose and the Penrose Lectures
- 3 Patents, innovation, and development
- 4 Collective value creation: A new approach to stakeholder value
- 5 Is the most unproductive firm the foundation of the most efficient economy? Penrosian learning confronts the neoclassical fallacy
- 6 The story of flight
- 7 Captive markets and climate change: Revisiting Edith Penroseās analysis of the international oil firms in the era of climate change
- 8 Complementarities between product and process innovation and their effects on employment: A firm-level analysis of manufacturing firms in Colombia
- 9 Penroseās theory of the firm in an era of globalisation
- 10 Necessary and sufficient conditions for the absorptive capacity of firms that interact with universities
- 11 Profit rate dynamics in US manufacturing
- 12 What is Edith Penroseās legacy for the theory of the firm?
- 13 Regulating stock buybacks: The $6.3 trillion question
- 14 The life and times of Edith Penrose
- Index