Transaction cost economics faces serious problems concerning the way it deals, or fails to deal, with bounded rationality, the efficiency of outcomes, trust, innovation, learning and the nature of knowledge. The competence view yields an alternative perspective on the purpose and boundaries of the firm. However, the competence view cannot ignore issues of governance, and in spite of serious criticism, transaction cost economics yields useful concepts to deal with it. This article aims to contribute to the development of theory and empirical research that connects governance and competence perspectives.

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Erasmus Research Institute of Management
hdl.handle.net/1765/182
ERIM Report Series Research in Management
Erasmus Research Institute of Management

Nooteboom, B. (2002). Governance and Competence (No. ERS-2002-25-ORG). ERIM Report Series Research in Management. Erasmus Research Institute of Management. Retrieved from http://hdl.handle.net/1765/182