Chapter

Introduction

Edith Penrose

in The Theory of the Growth of the Firm

Third edition

Published in print September 1995 | ISBN: 9780198289777
Published online November 2003 | e-ISBN: 9780191596759 | DOI: http://dx.doi.org/10.1093/0198289774.003.0001
 Introduction

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This introductory chapter discusses the development of a theory on the growth of the firm. The theory is first developed as a theory of internal growth, i.e. growth without merger and acquisition. The focus then shifts from the internal resources of the firm to the impact of particular types of external conditions as firms grow larger, and to the situation of small compared to large firms. This permits an analysis of changes in the rate of growth for firms as they grow. And finally leads to a discussion on the process of industrial concentration.

Keywords: firms; theory of growth; theory development; internal conditions; external conditions

Chapter.  3241 words. 

Subjects: Microeconomics

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