Subject. The article addresses the transformations in the field of modern economic science. They have led to a number of changes in theoretical approaches to company analysis, which need to update the research methodology and revise the existing theories of the firm. Objectives. The aim of the study is to identify and analyze methodological difficulties, preventing the formation of a single theory, on the basis of existing approaches to understanding the nature of the firm. Methods. The study employs general scientific methods of cognition, like the inductive and deductive method, the method of scientific abstraction, methods of comparison and analogy, the historical method. Results. The paper reviews and systematizes the main theories of the firm. The review demonstrates that the firm is a complex structure. It is difficult to perform a meaningful analysis within one theory. Conclusions. The modern theories of the firm partly reflect the demands of the economic science and practice regarding the definition of the essence of the firm, its main objectives and social functions, however, there have been no trends in integrating the theories and creating a unified theory of the firm.
Keywords: firm, theory of firm, economic theory, methodology of economic theory
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