1. Theory of Firms
Oluwatobi

2. Where the ownership and control is separated, the owners (shareholders) rely on the board of directors (Managers) to represent their interests. Do these Managers always represent the interest of the owners?
Berle and Means (1932)

3. There is a conflict of interest and usually at the shareholder’s expenses

4. Are Markets efficient. If Yes, why do we have Firms
Are Markets efficient? If Yes, why do we have Firms? Transaction cost- Costs associated with engaging in transactions.
Coase (1937)

5. What are the engine of Capitalism
What are the engine of Capitalism? Organizations were effective, adaptive and always looking for new products. Compete well and armed with cutting-edge innovation to stay alive
Schumpeter (1939)

6. Industrial Organization Economics
Structure of market to be determined by cost and nature of inputs Market structure efficiency OR Oligopoly
Industrial Organization Economics