Showing 1 - 10 of 280
This paper studies the effect of trade facilitation on vertical firm structure using plant-level data from Switzerland. Based on the Business Census and the Input-Output table, we first calculate a binary measure of vertical integration for all plants registered in Switzerland. We then estimate...
Persistent link: https://www.econbiz.de/10010483310
We explore why authority within firms helps trading parties immediately settle ex post adaptation problems despite the possibility of a subordinate's disobedience to the orders of his boss. By employing three crucial behavioral assumptions (reference-dependent preference, self-serving bias, and...
Persistent link: https://www.econbiz.de/10010332524
The economic characteristics of software and transaction costs explain, why closed source and open source software co-exist. It is about the efficient use of a non- and anti-scarce resource. But because of ex-post transaction costs that lead to information asymmetries, some property rights...
Persistent link: https://www.econbiz.de/10010273765
We explore why authority within firms helps trading parties immediately settle ex post adaptation problems despite the possibility of a subordinate's disobedience to the orders of his boss. By employing three crucial behavioral assumptions (reference-dependent preference, self-serving bias, and...
Persistent link: https://www.econbiz.de/10009728519
While the literature on firm boundaries has been greatly influenced by transaction cost economics, strategy scholars often emphasize the importance of capabilities considerations in these decisions. This has led to a debate that, we suggest, has generated more heat than light. We argue that the...
Persistent link: https://www.econbiz.de/10013118308
We describe and discuss Ronald Coase's approach to managerial authority, placing it in the broader context of recent economics and management research on intrafirm coordination. To do so, we make use of work by Coase that is relatively little known, namely his writings on opportunity cost...
Persistent link: https://www.econbiz.de/10012999896
This paper attempts to formalize the transaction cost theory of the firm. Building on the formal approach of Grossman and Hart (1986), a model is developed to capture the essential elements of the transaction cost theory, particularly those that are distinct from the formal property rights...
Persistent link: https://www.econbiz.de/10013155742
The paper is aimed at determining the applicability of transaction cost theory to explain the organizational change in transitional agriculture of Central and Eastern European countries. Motivation for this research is provided by the fact that agricultural enterprises with minimal transaction...
Persistent link: https://www.econbiz.de/10012772327
Using firm-level data on vertical integration of Korean manufacturers, the paper tests whether trade liberalization is an important determinant of firm's decision on vertical integration. We develop an empirical framework incorporating trade openness into industrial organization models;...
Persistent link: https://www.econbiz.de/10012958289
This paper seeks to extend the standard assumption concerning incomplete contracts (New Institutional Economics). It is based on a very specific market transaction, within which parties can not affect the market structure. Instead, referring to transaction as introduced by John R. Commons, we...
Persistent link: https://www.econbiz.de/10013050059