4Alchian, Armen A,, and Harold Demsetz, 1972, "Production, Information Costs, and Economic Organization", American Economic Review, 62 (Dec 1972), 777- 795.
5Alchian and Woodward, 1988: "The firm is dead: Long live the firm", . Journal of Economic Literature.
6Arthur, N. ,2001, "Board composition as the outcome of an intemal bargaining process: empirical evidence", Journal of Corporate Finance,7 (2001) ,307 - 340.