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Fragmentation of production into more and more complex supply chains is a prominent feature of globalisation. It implies that transaction costs as part of total costs of ownership carry a large weight in procurement decisions. An analysis of the various types of transaction costs is also...
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keeping transaction costs as low as possible.Transaction management is based on modern theories of transaction costs economics …,institutional economics, industrial organization and international trade. It makes thesetheories operational for strategic decision making in …
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interdisciplinary concept encompassing academic fields like finance, economics, accounting, law, taxation and psychology, among others …
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