Economists` Perceptions Versus Managers` Decisions : An Experiment in Transaction-Cost Analysis
Are the perceptions of professional economists on transaction costs consistent with make-or-buy decisions made within firms? The answer may have important implications for transaction cost research. Data on firms` outsourcing during the new product development process are taken from a large-scale survey of UK, German and Irish manufacturing plants, and we test the consistency of these outsourcing decisions with the predictions derived from the transaction cost perceptions of a panel of economists. Little consistency is evident between actual outsourcing patterns and the predictions of the (Williamsonian) transactions cost model derived from the panel of economists. There is, however, evidence of a systematic pattern to the differences, suggesting that a competence or resource-based approach may be relevant to understanding firm outsourcing, and that firms are adopting a strategic approach to managing their external relationships
Year of publication: |
[2010]
|
---|---|
Authors: | Love, s H. |
Other Persons: | Roper, Stephen (contributor) |
Publisher: |
[2010]: [S.l.] : SSRN |
Description of contents: | Abstract [papers.ssrn.com] |
Saved in:
Saved in favorites
Similar items by person
-
On the Opportunism-Independent Theory of the Firm
Love, s H., (2010)
-
Knowledge Transfers from Multi-national Plants in Northern Ireland
Crone, Mike, (1999)
-
Different Paths to Success: The Growth of the Electronics Sector in Ireland and Israel
Roper, Stephen, (1999)
- More ...