Panitza Library

"Multinational Corporations and Transaction Costs", by Prof. Tamara Todorova, Department of Economics, American University in Bulgaria

December 15, 2020

Prof. Tamara Todorova is a full-time associate professor at the American University in Bulgaria. She holds a PhD in economics from Varna University and an MBA from Columbus State University. Her main teaching areas are Microeconomics, Mathematical Economics, Economics of Reform and Transition, and New Institutional Economics. In 2006 Professor Todorova was a Fulbright fellow at the University of California at Berkley where her faculty sponsor was Oliver Williamson. Her research interests are in the field of new institutional economics, the theory of the firm, transaction costs and transitional economics.

This book is a study of the multinational corporation from the transaction cost perspective. The firm is a system of administrative relationships based on a nexus of contracts and the strong interdependence of specific assets. The firm substitutes the market mechanism when, in view of resource allocation and the existing transaction costs, it is a more costly instrument than the entrepreneur with his coordinating role. Using the theory advanced by Ronald Coase and Oliver Williamson we investigate some key features of the multinational corporation.

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