Purpose – The paper aims to investigate the problems encountered in retail international joint ventures (IJVs). It synthesizes and applies transaction cost economics and strategic management theories to help explain the dynamics within the international retail joint venture (IRJV) process....

Purpose – The purpose of this paper is to examine a US retailer's decision to backward‐integrate its supply channel for global sourcing, based on the framework adapted from transaction cost analysis (TCA). Design/methodology/approach – The conceptual framework was developed based on the...

Throughout his illustrious career Professor Clem Tisdell has displayed a holistic sense of scholarship rare amongst contemporary economists. Tisdell has been prepared to look both within and beyond his discipline and maintain a critical but balanced assessment of the shortcomings of mainstream...

In an emerging global economy the ability of the telecommunications sector to provide an internationally competitive network for transferring information has significant implications for trade and economic growth. Because of recent large world‐wide investments in telecommunications...

Hong Kong is a wealthy part of China, home to some of the tallest buildings, on some of the most expensive real estate in the world. Yet the living and working conditions of its residents are a cause for concern following a spate of fires and falling debris from poorly maintained blocks of...

In contrast to traditional welfare economics, new institutional economics has made a major contribution to analyzing institutions as both preconditions and elements of economic activities. By including institutions’ incentives and restrictions on human beings, it has made a significant first...

In this article, contrary to popular belief, it is argued on the basis of transaction cost economics that consumers will become subcontractors on electronic markets. The effects of this tendency counter the benefits that might accrue to them as a result of product differentiation and price...

Purpose – The purpose of this paper is twofold: first to add to the debate on trust and opportunism within transaction cost economics (TCE) and second to describe a partial solution, a code of ethical practice (CoEP) originating in Kant's moral philosophy. Design/methodology/approach – The...

The conclusion of this paper is that market prices fail to reflect the information required to provide meaningful accounting measurements that are used in real‐life decision making. This failure is due to the employment of an “ideal” economic world’s assumptions that do not, and cannot,...

Questions exist regarding the extent to which internal auditors should participate in the external audit, and wide variations are observed in practice. Many professional bodies increasingly advocate the view that increased coordination between the internal and external auditors, including...