Informal long-term relationships and mutual confidence play a crucial role in modern economies in at least two dimensions. First, the performance of firms is strongly affected by their capacity to solve organizational questions effectively and this capacity is apparently strongly related to...

Informal long-term relationships and mutual confidence play a crucial role in modern economies in at least two dimensions. First, the performance of firms is strongly affected by their capacity to solve organizational questions effectively and this capacity is apparently strongly related to...

This paper develops a simple general equilibrium model which establishes a link between the patience of economic agents and the well-being of nations. We show that firms in long-term oriented countries can mitigate hold-up inefficiencies by engaging with their suppliers in relational contracting...

How do firms' partnering strategies impact the size of their partner-based retail networks? We draw on agency theory to address this question in the context of franchising. Our econometric analyses, (based on nine years of longitudinal balanced panel data), include assessment of data...

This paper develops a simple general equilibrium model which establishes a link between the patience of economic agents and the well-being of nations. We show that firms in long-term oriented countries can mitigate hold-up inefficiencies by engaging with their suppliers in relational contracting...

We examine the effect of relationship-specific investment on contract complexity, which has broad implications because complex contracts and vertical integration have similar causal origins. It is usually assumed that transaction cost economics (TCE) implies that relationship-specific investment...

It is argued that firm cooperation in supply chain management can be classified as a hybrid governance structure in a new institutional sense. Using a key informant survey, exploratory data on transaction dimensions and supply chain management was gathered and analyzed. Findings suggest that the...