Uncertainty-Governance Choice Puzzle Revisited - Predictions from Transaction Costs Economics, Resource-based Theory, and Real Options Theory Konig FranziskaPaperback

Franziska K nig examines the nature and effects of uncertainty on governance choice of firms. On the one hand, there are numerous theoretical approaches suggesting different implications regarding governance choice. Despite an innumerable amount of theoretical and empirical efforts that have been undertaken until to date, the relationship between uncertainty and governance choice remains nebulous.

On the other hand, empirical research has been adopting an innumerable amount of different operationalizations and has presented in part divergent empirical results. For example, while in the face of uncertainty, transaction costs economics (TCE) favors hierarchical governance, real options theory (ROT) promotes more market-based governance solutions. As a consequence the strategic management literature has not been able to advise management practice on which governance form to choose in the