Статті в журналах: "Transaction Cost Management"

1

Yakymenko-Tereshchenko, Natalia, Tatiana Zhadan, Ugor Zhuk, and Maria Golovenko. "COST CONTROL IN THE SYSTEM OF ANALYTICAL SUPPORT OF ENTERPRISE MANAGEMENT." Bulletin of the National Technical University "Kharkiv Polytechnic Institute" (economic sciences), no. 3 (August 25, 2021): 36–42. http://dx.doi.org/10.20998/2519-4461.2021.3.36.

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The content of cost management based on modern scientific approaches to its organization was determined. In article was emphasized on the elements of the cost control system. The main elements of the system of internal cost control of LLC "Pharmacy of low prices Kharkiv" include: allocation of responsibilities, effective procedures for authorizing transactions, timely documentation of transactions, actual control over property and documentation, independent validation. The definition of the concept and classification of transaction costs of pharmaceutical retailers are given. Оrganizational and methodological support of internal control of the company's transaction costs includes: organization of accounting of transaction costs, gathering of information on the transaction costs of the enterprise; accumulation and storage of information about the transaction costs of the enterprise; produce indicators for assessing the transaction costs of the enterprise and their analysis; selection of the form of presentation of the results of control of transaction costs of the enterprise, allocation of the directions of use of the results of control of transaction costs of the enterprise; making management decisions based on the results of control. Тhere are stages of the control procedures for the transaction costs of the enterprise: verification of the legality and correctness of the reflection of transaction costs in accordance with accounting rules and regulations and regulatory legal acts, comparison of the correctness and reconciliation between primary documents and accounting registers, validation of the allocation of transaction costs for a certain period, verification of their validity and appropriateness, determination of the correctness of analytical accounting of transaction costs and preparation of appropriate reports.

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Zhou Zilin, Khoo Terh Jing, Ha Chin Yee, Deng Zihao, and Li Yao. "Blockchain Technology in Construction Supply Chain Management: Enhance Transaction Speed, Cost Effectiveness and Security." Journal of Advanced Research in Applied Sciences and Engineering Technology 32, no. 3 (October 2, 2023): 400–420. http://dx.doi.org/10.37934/araset.32.3.400420.

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The traditional construction sector encountered obstacles that prevented it from developing, including knowledge asymmetry, complicated intermediary relationships, and high transaction costs. Blockchain technology offered a more effective, secure, and convenient mode of transaction and management to the construction industry because it was a decentralized, safe, and reliable information transmission and management tool. Blockchain technology could be applied to the construction industry's supply chain to achieve traceability and supervision, enhancing the transparency and dependability of transactions. At the same time, blockchain technology could be applied to the management of the construction supply chain to achieve rapid information sharing and verification, lowering transaction costs, and increasing transaction efficiency. However, the previous study on the use of blockchain technology in the building sector was still in its infancy and required more investigation and study. This study aimed to investigate how blockchain technology could be used in supply chain management for the construction sector to address present issues. The study's goals were to examine how blockchain technology could speed up transactions and improve supply chain management for the construction industry, as well as to examine how it could lower transaction costs and increase data sharing and information transparency. This study used a semi-structured interviewing technique for the purpose of gathering and analysing data. The researcher learned more about professionals and industry experts' thoughts and experiences with blockchain technology in construction supply chain management through in-person or remote interviews with them. The advancement of the construction industry's digital transformation and information upgrading reflected the significance of this study. This study would help the supply chain management in the construction sector in enhancing the effectiveness of supply chain transactions in the construction industry and reducing the transaction cycle; lowering the price of supply chain transactions in the construction industry and boosting the industry's competitiveness; strengthening the security and reliability of supply chain transactions in the construction industry and reducing data compromise and transaction risks.

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Wever, Mark, Nel Wognum, Jacques Trienekens, and Onno Omta. "Managing transaction risks in interdependent supply chains: an extended transaction cost economics perspective." Journal on Chain and Network Science 12, no. 3 (January 1, 2012): 243–60. http://dx.doi.org/10.3920/jcns2012.x214.

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The present study examines the management of transaction risks in supply chains. Risk management studies often ignore the wider supply chain context in which individual transactions take place. However, risk management strategies which are suitable to use when only a single transaction is considered may be inappropriate when other transactions in the supply chain are taken into account. This study addresses this issue by examining: (1) how risks arise as a result of interdependencies between the various transactions making up the supply chain; and (2) what types of contractual-based strategies actors can use to manage their risk exposure. To realize these aims, the study applies an extended Transaction Cost Economics (TCE) framework with a supply chain orientation. The framework illustrates how different types of interdependencies - pooled, sequential and reciprocal - expose companies to different sources of risk. Three strategies companies can use when facing barriers to risk minimization in sequentially interdependent supply chains are analyzed: risk transferring, risk altering and risk sharing. Examples from the agri-food sector are discussed to demonstrate the functioning of these strategies.

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4

Michael, Steven C. "Transaction cost entrepreneurship." Journal of Business Venturing 22, no. 3 (May 2007): 412–26. http://dx.doi.org/10.1016/j.jbusvent.2006.04.005.

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5

Hsieh, Ching-Tang, Hao-Chen Huang, and Wei-Long Lee. "Using transaction cost economics to explain open innovation in start-ups." Management Decision 54, no. 9 (October 17, 2016): 2133–56. http://dx.doi.org/10.1108/md-01-2016-0012.

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Purpose The basic concept of transaction cost theory is that firms like to conduct transactions in a channel with lower transaction costs. Therefore, the purpose of this paper is to use the transaction cost perspective to identify which conditions cause companies to choose between outbound open innovation (hierarchy governance) and inbound open innovation (market governance). Design/methodology/approach Accordingly, transaction cost economics was used to relate the choice and implementation of open innovation using a sample of 250 electronics and information start-ups in China. Structural equation modeling was used to conduct confirmatory factor analysis to evaluate measurement model, while logistic regression analysis was used to test the hypotheses. Findings As expected, the dedicated asset specificity, human asset specificity, behavioral uncertainty, transaction frequency, and small number exchange were positively associated with outbound open innovation. Originality/value The contribution of this paper lies in explaining the role played by transaction cost economics in the process of open innovation for start-ups through empirical analysis.

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6

VORONOVA, Ekaterina Yu, and Аnna А. VEKSHINA. "A model of accounting and analytical support of cost optimization in the context of new institutionalism." International Accounting 25, no. 12 (December 15, 2022): 1360–81. http://dx.doi.org/10.24891/ia.25.12.1360.

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Subject. This article deals with the theoretical and methodological features of the formation of accounting and analytical support for transformation and transaction cost optimization. Objectives. The article aims to indicate the need to classify costs according to their belonging to transactions and disclose the theoretical and methodological features in the context of accounting and analytical cost optimization support. Methods. For the study, we used general scientific methods (analysis, comparison and interpretation) and statistical methods in economics. The results of the study are shown in tabular and graphical forms. Results. The article defines the notion of Transaction Cost and the need to decompose cost into transformation and transaction parts to take measures to optimize the level of costs. It systematizes the theoretical and methodological features of accounting and analytical models for transformation and transaction cost optimization. The article also proposes to integrate digital technologies into the management cost accounting system. Conclusions and Relevance. The article justifies the necessity to break costs into transformation and transaction parts for these types of cost have different approaches to the accounting and analytical support formation for optimization. The organization of accounting and analysis of costs by their belonging to transactions can improve the quality of accounting and analytical support and, consequently, the information base for management decisions. At present, the digital technologies that can be used in financial and operational activities contribute to cost reduction.

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Choudry, Bilal A., Peter Bertok, and Jinli Cao. "Cost based web services transaction management." International Journal of Web and Grid Services 2, no. 2 (2006): 198. http://dx.doi.org/10.1504/ijwgs.2006.010807.

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8

Henderson, Phil. "Risk management: Cost-effective transaction monitoring." Natural Gas & Electricity 28, no. 12 (June 21, 2012): 8–12. http://dx.doi.org/10.1002/gas.21618.

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9

Wagner, Wayne H. "The Incredible Story of Transaction Cost Management." Journal of Trading 3, no. 3 (June 30, 2008): 8–14. http://dx.doi.org/10.3905/jot.2008.708831.

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10

Garfamy, Reza Mohammady. "Supply Management: A Transaction Cost Economics Framework." South East European Journal of Economics and Business 7, no. 2 (November 1, 2012): 139–47. http://dx.doi.org/10.2478/v10033-012-0022-6.

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Abstract Transaction Cost Economics (TCE) is an economic theory that provides an analytical framework for investigating the governance structure of contractual relations within a supply chain. The purpose of this paper is to examine existing research in an effort to understand the potential effects of transaction costs on the vertical coordination of a supply chain. The paper arrives at many insights into how supply chains are organized under different governance structures. These insights can certainly be shared via the development and introduction of related propositions. The conceptual typology of contractual relations developed herein can help researchers better understand the scope of both the problems and the opportunities associated with supply management. It will be of value, therefore, not only to researchers who desire to expand their research into this area, but also to those who have already investigated this topic in isolation or with limited scope.

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11

Wagner, Wayne H., and Michael Banks. "Increasing Portfolio Effectiveness Via Transaction Cost Management." Journal of Portfolio Management 19, no. 1 (October 31, 1992): 6–11. http://dx.doi.org/10.3905/jpm.1992.409428.

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12

Todorova, Tamara, and Aleksandar Vasilev. "Some Transaction Cost Effects of Authoritarian Management." International Journal of the Economics of Business 24, no. 3 (May 18, 2017): 295–314. http://dx.doi.org/10.1080/13571516.2017.1322258.

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13

Purnomo, Arie. "STUDI KUANTITATIF: BIAYA TRANSAKSI DALAM PERSPEKTIF MANAJEMEN PEMERINTAHAN DI INDONESIA." Jurnal Noken: Ilmu-Ilmu Sosial 3, no. 1 (February 24, 2018): 21. http://dx.doi.org/10.33506/jn.v3i1.58.

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The research aim to know the transaction cost in government management prospective consist of the government cost and market cost with suitable the government service in government management prospective. The result of government in applied of transaction cost have affect by the government cost suitable with routine cost, development cost, human resource cost and facility cost suitable with information, administration, operational and technology costs in applied the suitable of service with principle, accountable, leadership, productivity and service quality. The appointment of market cost have positive toward transaction cost for several activity or job program in government scope. The government instance have responsibility in appointment of transaction cost with give of propose planning suitable with need of government in applied of information, administration, operational and technology cost which affected toward suitable of service. Although the transaction cost in specific occured with the transaction cost particularly relate with cost transaction because the government cost require to suitable with transaction cost.

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14

Chen, Chao C., Mike W. Peng, and Patrick A. Saparito. "Individualism, Collectivism, and Opportunism: A Cultural Perspective on Transaction Cost Economics." Journal of Management 28, no. 4 (August 2002): 567–83. http://dx.doi.org/10.1177/014920630202800405.

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Researchers criticize the transaction cost economics (TCE) paradigm for over-generalizing the assumption of opportunism as human nature. We suggest that opportunistic propensity is affected by cultural prior conditioning of individualism-collectivism (I-C). Specifically, we propose that individualists have a higher opportunistic propensity in intra-group transactions, and collectivists in inter-group transactions. Our cultural specification of opportunism helps TCE to more effectively accommodate some criticisms and more realistically deal with problems of economic organization in today’s global economy.

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15

Sytnyk, Ye А. "Is there a general equivalent of transaction costs?" Management of Economy: Theory and Practice. Chumachenko’s Annals, no. 2021 (December 23, 2021): 226–39. http://dx.doi.org/10.37405/2221-1187.2021.226-239.

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The article raises the question of the existence of a general equivalent of transaction costs other than money. A distinction was made between the concepts of transaction costs and transaction actions. The definition of transaction costs is given as a cost (in the sense of costs of value and time) trace of transactional actions. The concept of a continuum of transactional actions was introduced. the composition of the continuum of transactional actions is outlined and the main reasons for its increase in the modern economy are identified. among these reasons are specific to the economy, which is transitioning from a Soviet-type command-administrative system to a market one. The mechanism of displacement of market transactions by the firm has been specified. Transactional substitution is a process (processes) of the firm’s performance of a certain set of transactional actions that accompany transformational processes from their beginning to their end. Transaction substitution is related to the transaction capacity of the institute. Correspondence between subsets of the continuum of transactional actions and transformational (production) processes is established. The concept of an agerative system is introduced as one of the two large systems that support symmetry in the economy, and which exists in parallel with the market or commodity-money system. Agerative system is built on the basis of management actions and is a complex of management, transactional actions of all types and types. A table was created in which the main correspondences between transformational and transactional types of processes and the economic phenomena generated by them are placed. Transformational and transactional processes generate different types of economic phenomena. If in transformational processes goods are created, more precisely, natural-material bodies of goods as carriers of value, then institutions are created in transactional processes. If as a result of the development of transformational (production) processes there is an accumulation of capital (which, in fact, is the goal of capitalist production), then as a result of the development of transactional processes there is an accumulation of managerial power. The goal of bureaucracy is to increase and concentrate managerial power. Keywords continuum of transactional actions, transactional actions, transactional costs, transformational processes, the transaction envelope of the production process, the total equivalent of transaction costs, physical goods, carriers of value, agerative system, levels of hierarchy, unit of hierarchical complexity, transactional capacity of institutions, institutional (institutional) competition.

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16

SYAHRIL, E. "AN INVESTMENT STRATEGY IN PORTFOLIO SELECTION PROBLEM WITH BULLET TRANSACTION COST." Journal of Mathematics and Its Applications 2, no. 2 (December 1, 2003): 1. http://dx.doi.org/10.29244/jmap.2.2.1-14.

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This paper discusses an investment strategy for a con- sumption and investment decision problem for an individual who has available a riskless asset paying ﬁxed interest rate and a risky asset driven by Brownian motion price ﬂuctuations. The individual observes current wealth when making transactions, that transac- tions incur costs, and that decisions to transact can be made at any time based on all current information. The transactions costs is ﬁxed for every transaction, regardless of amount transacted. In addition, the investor is charged a ﬁxed fraction of total wealth as management fee. The investor’s objective is to maximize the expected utility of consumption over a given horizon. The prob- lem faced by the investor is formulated in a stochastic discrete- continuous-time control problem. An investment strategy is given for ﬁxed transaction intervals.

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Lioukas, Constantinos S., and Jeffrey J. Reuer. "Choosing Between Safeguards: Scope and Governance Decisions in R&D Alliances." Journal of Management 46, no. 3 (August 20, 2018): 359–84. http://dx.doi.org/10.1177/0149206318795240.

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Research on transaction cost economics has emphasized the choice of an appropriate governance structure as an important mechanism in alleviating exchange hazards in interfirm transactions, yet firms may also manipulate the characteristics of a transaction to make it less hazardous in the first place by carefully selecting the activities or assets involved in the transaction. In this paper, we explore this theoretical issue in transaction cost economics by examining how firms design R&D alliances to mitigate appropriation hazards in these interfirm transactions. In particular, we investigate when firms will prefer to limit the scope of functional activities involved in an R&D alliance, thus addressing appropriation hazards directly by manipulating the alliance’s characteristics, versus when they will opt for an equity-based governance structure in order to mitigate appropriation hazards ex post. We argue that firms are more likely to limit the scope of alliance activities rather than choose an equity-based governance structure when there are multiple partners in an alliance and when the partners are from different nations, because monitoring and other control mechanisms become more cumbersome and problematic in these circumstances. In contrast, firms that are direct competitors are more likely to choose an equity-based governance structure in order to mitigate exchange hazards, such as knowledge misappropriation, through carefully monitored knowledge sharing. Empirical analysis of data on R&D alliances in a variety of industries provides support for our arguments regarding alliances involving multiple partners and alliances between competitors. We discuss the implications of our study for research on transaction cost economics.

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Cordelia, Antonio. "Transaction Costs and Information Systems: Does IT Add Up?" Journal of Information Technology 21, no. 3 (September 2006): 195–202. http://dx.doi.org/10.1057/palgrave.jit.2000066.

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Transaction cost theory has often been used to support the use of information and communication technology (ICT) to reduce imperfection in the economic system. Electronic markets and hierarchies have repeatedly been described as solutions to inefficiencies in the organisation of transactions in complex and uncertain settings. Far from criticising this assumption, this paper highlights the limits associated with this application of transaction cost theory that has been prevalent in IS research. Building on the concepts first proposed by Ciborra, the paper argues that information-related problems represent only some of the elements contributing to transaction costs. These costs also emerge due to the interdependencies among the various factors contributing to their growth. The study of the consequences associated with ICT design and implementation, grounded in transaction cost theory, should consider the overall implication associated with the adoption and use of ICT and not only the direct effect on problems associated with information flow, distribution, and management.

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Coronado, Jose Jaime Arana, Jos Bijman, Onno Omta, and Alfons Oude Lansink. "Relationship characteristics and performance in fresh produce supply chains: the case of the Mexican avocado industry." Journal on Chain and Network Science 10, no. 1 (January 1, 2010): 1–15. http://dx.doi.org/10.3920/jcns2010.x101.

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Inter-organisational relations research has shown that relationship characteristics can influence performance in seller-buyer transactions. Using a transaction cost economics approach, this research shows that relational elements such as expectation of continuity reduce the transaction risks related to behavioural uncertainty or asset specificity. However, transaction costs are not only caused by transaction risks but also by the need to coordinate the individual activities of the buyer and the seller. Inter-organisational coordination is important in transactions with perishable products and products with credence attributes, such as in fresh produce supply chains. To study the impact of different relationship characteristics on the efficiency of transactions in a fresh produce supply chain, we collected and analyzed data from 122 avocado producers in Mexico. We found that information exchange and producer expectation of continuity of the relationship positively affect performance in the seller-buyer transaction. While expectation of continuity leads to lower transaction costs associated with behavioural uncertainty, information exchange facilitates the efficient alignment of interdependent activities.

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Saravia Matus, Jimmy A., and Silvia Saravia-Matus. "Corporate governance and transaction cost economics: A study of the equity governance structure." Corporate Board role duties and composition 12, no. 1 (2016): 33–44. http://dx.doi.org/10.22495/cbv12i1art4.

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This paper extends the Transaction Cost Economics (TCE) theory of the equity governance structure by introducing a (hitherto absent) full analysis of the key TCE issue of bilateral dependency between the firm and its shareholders. In addition, the paper discusses the implications of the analysis for the topic of corporate governance and firm performance. We find that when bilateral dependency holds contractual hazards are mitigated as predicted by TCE, but that when it does not contractual safeguards are altered to the disadvantage of shareholders and managerial discretion costs increase as reflected by lower firm valuation. Importantly, our study documents for the first time a class of transactions where business relationships persist indefinitely even though transaction costs are not minimized.

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WILLIAMSON, OLIVER E. "OUTSOURCING: TRANSACTION COST ECONOMICS AND SUPPLY CHAIN MANAGEMENT." Journal of Supply Chain Management 44, no. 2 (April 2008): 5–16. http://dx.doi.org/10.1111/j.1745-493x.2008.00051.x.

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Mazza, Paolo, and Mikael Petitjean. "Implicit transaction cost management using intraday price dynamics." Applied Economics 50, no. 39 (February 24, 2018): 4264–74. http://dx.doi.org/10.1080/00036846.2018.1441523.

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23

Hobbs, Jill E. "A transaction cost approach to supply chain management." Supply Chain Management: An International Journal 1, no. 2 (August 1996): 15–27. http://dx.doi.org/10.1108/13598549610155260.

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Tsang, Eric W. K. "Transaction Cost and Resource-Based Explanations of Joint Ventures: A Comparison and Synthesis." Organization Studies 21, no. 1 (January 2000): 215–42. http://dx.doi.org/10.1177/0170840600211004.

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Transaction cost theory has been the dominant theoretical lens used in the study of joint ventures. The purpose of this paper is to explain the formation of joint ventures from the resource-based perspective and to compare this perspective with transaction cost theory. By focusing on the cost aspect of a transaction, the transaction cost logic explains joint ventures in terms of market failure for intermediate inputs, asset specificity, and high uncertainty over specifying and monitoring performance. Putting more emphasis on the benefit side of a transaction, resource-based theory regards joint ventures as a means of exploiting and developing a firm's resources. The transaction cost and resource-based explanations are, to a certain extent, complementary. Taking the stance of theoretical pluralism, an attempt is made to synthesize the two theories into a more comprehensive perspective which takes both costs and benefits into account.

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Deng, Meie, and Anlu Zhang. "Effect of Transaction Rules on Enterprise Transaction Costs Based on Williamson Transaction Cost Theory in Nanhai, China." Sustainability 12, no. 3 (February 5, 2020): 1129. http://dx.doi.org/10.3390/su12031129.

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The high transaction costs due to the incomplete information and transaction rules of the rural collective construction land (RCCL) market indicate that the government must improve the rural collective construction land market. Transaction rules are an important means for the government to intervene in the market and promote the development of market order, to secure land tenure, and to improve the disclosure of information. Vertical integration may reduce enterprise transaction costs but will increase the governance cost of internal organizations in enterprises. Land commercialization and corporate governance restructuring is a considerable challenge worldwide. Using a field survey in Nanhai district, Guangdong province, China, we estimated how the transaction costs of the RCCL are influenced not only by three dimensions of transaction rules—openness, equity, and justice—but also by the human asset in EC or EJC. Tobit models were constructed, and the results show that (1) the greater number of collective leaders, the higher the enterprise transaction cost (human asset in EC or EJC increases transaction costs of enterprises) and (2) the transaction rules are not sufficiently open or fair, which leads to high costs of market information searching, opportunism, and corruption. The transaction information is not transparent and the lag in transaction supervision mode gives rise to unfair transactions, in which the formation mode of land price is unreasonable. Therefore, we suggest that the transaction rules of RCCL market should be further improved in the three dimensions of openness, equity, and justice. Chinese authorities should strengthen their current efforts to build a more open and fair market by reducing the transaction costs of enterprises and improving the transaction efficiency. Our work provides some insights into the improvement of market efficiency which will contribute to the development of the RCCL market in other areas of China and worldwide.

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MESHACK, TITO, and BENEDICT MUTUKU. "INNOVATION OF MOBILE BANKING ANDCUSTOMER LOYALTY OF COMMERCIAL BANKS IN MOMBASA COUNTY, KENYA." Reviewed Journal International of Business Management [ISSN 2663-127X] 4, no. 1 (May 9, 2023): 102–19. http://dx.doi.org/10.61426/business.v4i1.80.

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The purpose of the study was to establish the innovation of mobile banking on customer loyalty of commercial banks in Kenya. The study theoretical constructs included transaction cost, mobile banking security, service reliability and interface usability. The study was anchored on technology acceptance model, task technology fit theory and transaction cost theory. The study used a descriptive cross-sectional survey research design. The study targeted the management staff drawn from ICT, Operations, Finance, Marketing, and Retail banking of all the seven tier 1 commercial banks with operations in Mombasa County as the unit of observation. Stratified random sampling technique was used to select a sample size of 72 participants by help of Yamane statistical formula. Primary data was collected using structured questionnaire based on the objectives of the study. The collected data was edited, coded for processing using the Statistical Package for Social Sciences (SPSS v. 26) and results were presented in frequency tables. Descriptive and inferential statistics were used to analyze information generated from the respondents. The study findings revealed that mobile banking services were affordable and that customers of mobile banking were able to enjoy cost savings. The study concluded that commercial banks mobile banking services were widely accessible to the population and that the cost of transactions was determined by the amount transacted. The mobile banking of commercial bank is safe and secure and that banks mobile banking services platform offers transactions privacy to customers. Also commercial bank customers are notified of transactions on time firms. Respondents were in agreement to the statement that the customers were offered window to reverse transactions. The study concluded that banks mobile banking interface is compatible with multiple devices and that the provision of simple and easy to follow instructions during transactions. It is concluded that it is easy to complete a transaction through the banking application and that banks mobile banking service interface is responsive in that it can be accessed in every gadget. The study suggests that, in order to reduce operational expenses, the management of commercial banks should invest in digital technologies. The banks should seek to innovate to make their services affordable to customers. The study recommends that commercial banks should review current transaction costs so as to make mobile banking services widely accessible. The transaction costs should be relative to the amount transacted meaning that the frequent users who transact less amounts should be charged less and vice versa.

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de Vries, Walter T., and Hanneke Ester. "Inter-organizational Transactions Cost Management with Public Key Registers." International Journal of Public Administration in the Digital Age 2, no. 2 (April 2015): 22–32. http://dx.doi.org/10.4018/ijpada.2015040102.

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Cross-organizational e-Government projects must comply with separate and alternative accounting systems. The compliance brings about two types of problems: the emergence of transaction costs because of having to create additional and often more complex, accounting systems and a reduction of financial autonomy and accountability of individual public agencies. Conceptually transaction cost theory, in particular through using the construction ‘asset specificity' and ‘uncertainty' can qualify these problems. Empirically, a case study approach helps to contextualize these problem in a given (inter-)organizational, economical and institutional environment. The present research employs these choices to explore how the Netherlands e-Government case of establishing national key registers affects the inter-organizational accounting practices and the financial autonomy of a single organization, the Dutch Kadaster. This domain study reveals that while cross-organizational e-Government projects indeed reach cost efficiency in back-office operations they also incur transaction costs in accounting. This increases the institutional uncertainty, while decreasing the asset specificity. Both effects imply a loss in autonomy and accountability of individual public organization, such as the Kadaster. Hence, while e-Government project may operate efficiently and effectively across organizations, it reduces that of individual organizations.

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Williamson, Oliver E. "Transaction cost economics and business administration." Scandinavian Journal of Management 21, no. 1 (March 2005): 19–40. http://dx.doi.org/10.1016/j.scaman.2005.02.002.

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Robertson, Thomas S., and Hubert Gatignon. "Technology development mode: a transaction cost conceptualization." Strategic Management Journal 19, no. 6 (June 1998): 515–31. http://dx.doi.org/10.1002/(sici)1097-0266(199806)19:6<515::aid-smj960>3.0.co;2-f.

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30

Noorderhaven, Niels. "The Argumentational Texture of Transaction Cost Economics." Organization Studies 16, no. 4 (July 1995): 605–23. http://dx.doi.org/10.1177/017084069501600407.

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The deconstruction method was used to analyze a seminal text in transaction cost economics, viz., Oliver Williamson's Economic Institutions of Capitalism. This deconstructive reading revealed that the assumption of opportunism that gives rise to the problem of economic organization as formulated by William son also tends to undermine the proposed solution to this problem. The plausi bility of unified governance as a solution to the problem of opportunism in transaction relations with asset specificity is shown to hinge on the temporary deferment of the assumption of opportunism. Thus, transaction cost economics finds itself in an impasse of thought: actors have to be assumed to be both opportunistic and not-opportunistic if the logic of the theory is to be main tained.

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Groot-Kormelinck, Annemarie, Jacques Trienekens, and Jos Bijman. "Coordinating food quality: How do quality standards influence contract arrangements? A study on Uruguayan food supply chains." Supply Chain Management: An International Journal 26, no. 4 (February 26, 2021): 449–66. http://dx.doi.org/10.1108/scm-02-2020-0087.

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Purpose The aim of this paper is to study the influence of quality standards on contract arrangements in food supply chains. Design/methodology/approach A qualitative double case study was conducted on the dairy and citrus sectors in Uruguay. A transaction cost theoretical framework was used. All current public and private quality standards applied by processors were studied in relation to contract arrangements between processors and upstream producers as well as downstream buyers for each sector. Findings Quality standards complement contract arrangements for upstream transactions, leading to hierarchy-type contract arrangements. Quality standards substitute contract arrangements for downstream transactions, leading to market- or hybrid-type contract arrangements. Research limitations/implications Longitudinal studies that measure changes in contract arrangements over time are recommended. Practical implications Supply chain actors can reduce transaction costs by aligning quality standards with appropriate contract arrangements – further supported by public instruments. Originality/value Quality standards have differential influence on underlying transaction characteristics, and therefore on contract arrangements, depending on the location of the transaction in the supply chain.

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Stranieri, Stefanella, Luigi Orsi, and Alessandro Banterle. "Traceability and risks: an extended transaction cost perspective." Supply Chain Management: An International Journal 22, no. 2 (March 13, 2017): 145–59. http://dx.doi.org/10.1108/scm-07-2016-0268.

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Purpose The aim of the paper is to investigate the determinants leading firms to choose among different voluntary standards within food supply chains. In specific, the authors explored the role of transaction risks, i.e. internal and exogenous risks, in the adoption of different traceability standards. Design/methodology/approach A survey was conducted within the Italian population of 216 food-processing firms that adopt voluntary traceability schemes. The identification of different transaction risks was based on the literature on supply chain management and transaction cost economics. An ordinal regression model was used in the analysis. Findings Empirical results highlight that the transaction risks perceived by food firms play a significant role on the kind of traceability schemes to adopt. There is a positive link between internal risks and the decision to implement complex schemes. Moreover, a negative relationship between the perceived exogenous risks and the complexity of the standard adopted is also observed. Exogenous transaction risk lead to the implementation of standards which do not imply strong co-ordination. On the contrary, internal risks imply complex schemes that lead to closer supply chain relationships. Research limitations/implications The analysis is limited to cross-sectional data for a single country, and further investigation would help assess the generalisation of the findings. Practical implications The analysis can be considered a useful framework to orient firms strategic decisions towards the most appropriate voluntary standard to adopt for an efficient management of vertical relationships within food supply chains. Originality/value The present analysis is the first attempt to explain the determinants leading firms to choose among different kinds of voluntary standards within food supply chains. The approach used reveals that transaction risks can be considered a useful framework to explain firms’ strategic decisions related to the kind of schemes to adopt.

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Hussain, Dildar, Lindia Moritz, and Josef Windsperger. "The Choice Between Single-Unit And Multi-Unit Franchising: Combining Agency And Transaction Cost Perspectives." Journal of Applied Business Research (JABR) 28, no. 5 (August 21, 2012): 769. http://dx.doi.org/10.19030/jabr.v28i5.7221.

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This study investigates the factors explaining the franchisors choice between single-unit and multi-unit franchising based on agency theory and transaction cost theory. We examine the impact of behavioral uncertainty due to shirking and free-riding, franchisees transaction-specific investments, and environmental uncertainty on the franchisors choice of multi-unit franchising. Our empirical results from the German franchise sector provide strong support of the transaction cost hypotheses and relatively weak support of the agency-theoretical hypotheses. This study contributes to the literature by showing that the transaction cost explanation complements the agency cost explanation of multi-unit franchising.

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Vo, Van Dien, Nicolas Mainetti, and Pierre Fenies. "Traceability and transaction governance: a transaction cost analysis in seafood supply chain." Supply Chain Forum: An International Journal 17, no. 3 (June 13, 2016): 125–35. http://dx.doi.org/10.1080/16258312.2016.1188588.

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Efizon, Deni, Bintal Amin, Dessy Yoswaty, Trisla Warningsih, Alit Hindri Yani, Herimufty Herimufty, Gatot Yulianto, Deviasari Deviasari, and Rival Junaidi. "Transaction Cost Analysis of Sustainable Management of Terubuk Fish (Tenualosa macrura) in the Waters of Bengkalis Riau." Economic and Social of Fisheries and Marine Journal 010, no. 01 (October 30, 2022): 55–63. http://dx.doi.org/10.21776/ub.ecsofim.2022.010.01.05.

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This research was conducted in a terubuk fishermen area in Bengkalis District (3 villages), Bukit Batu District (4 villages) in Bengkalis Regency; Sungai Apit District (2 villages), Siak Regency and Tasik Putri Puyu District (2 villages) in Meranti Islands Regency. The location is densely populated by fishermen with the largest fishery reserve in the waters of Bengkalis, Riau. This study was carried out to examine the transaction costs in the management of terubuk fish in Bengkalis waters. A survey was administered to collect primary data and secondary data through interview and focus group discussions with stakeholders relevant to Terubuk fisheries reserves (fishermen and the government). The transaction cost structure of terubuk fish management was determined using transaction cost analysis. Analytical method using the equation . The results of the study showed that the total transaction costs required in the management of terubuk fish in Bengkalis waters reported by the government reached IDR 1,505,134,000 for a year. Meanwhile, the transaction cost of fishermen was IDR 95,750,000 per year which is significantly lower than the one reported by the government. The cost included the decision-making costs, information costs, and joint operational cost.

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Averyt, William F., and K. Ramagopal. "Strategic disruption and transaction cost economics." International Business Review 8, no. 1 (January 1999): 39–53. http://dx.doi.org/10.1016/s0969-5931(98)00037-7.

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Yamamoto, Rei, and Hiroshi Konno. "REBALANCE SCHEDULE OPTIMIZATION OF A LARGE SCALE PORTFOLIO UNDER TRANSACTION COST." Journal of the Operations Research Society of Japan 56, no. 1 (2013): 26–37. http://dx.doi.org/10.15807/jorsj.56.26.

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Sam, Michael P., Richard Batty, and Rebecca G. K. Dean. "A Transaction Cost Approach to Sport Sponsorship." Sport Management Review 8, no. 1 (May 2005): 1–17. http://dx.doi.org/10.1016/s1441-3523(05)70030-9.

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KONNO, HIROSHI. "PORTFOLIO OPTIMIZATION OF SMALL SCALE FUND USING MEAN-ABSOLUTE DEVIATION MODEL." International Journal of Theoretical and Applied Finance 06, no. 04 (June 2003): 403–18. http://dx.doi.org/10.1142/s0219024903001979.

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The purpose of this paper is to show that we are now able to apply standard portfolio optimization methods to the management of small and medium scale fund, where transaction cost and minimal transaction unit constraints are not negligible. Unit transaction cost is usually larger when the amount of investment is smaller. Also, rounding of portfolio to the nearest integer multiple of minimal transaction unit will have non negligible effect on the risk-return structure of the portfolio. We will show that the use of mean-absolute deviation model enables one to handle concave transaction cost and minimal transaction unit constraints in an efficient manner using branch and bound algorithm. Also, we will show that the minimal transaction cost rebalancing problem can be solved by using the same algorithm.

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f, f. "A Transaction Cost Approach to the Role of Cooperatives in Energy Transition." International Academy of Global Business and Trade 19, no. 6 (December 31, 2023): 1–21. http://dx.doi.org/10.20294/jgbt.2023.19.6.1.

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Purpose - This paper investigates how community-based approaches to renewable energy help in to substitute renewables for fossil fuels in Europe in the context of transaction costs. Design/Methodology/Approach - This paper uses qualitative research methods, which feature online interviews focusing on 14 REScoop.eu member cooperatives and organizations, four non-REScoop.eu organizations, and a complementary online survey of 32 respondent REScoop.eu member cooperatives. Findings - The paper finds that (a) cooperative legal form is not seen to generate the perceived advantages to cooperatives in renewable energy proliferation, or (b) in addressing associated land use issues; further (c), there a perception that renewable energy cooperatives directly help in renewable energy proliferation by localizing energy production and stimulating the local economy (d) by making renewables more acceptable at the local level, and (e) by building trust-based relationships within these communities. It is also perceived that (f) such cooperatives are hampered by the general lack of corresponding professional and technical expertise, volunteer work, and the democratic decision-making process. Research Implications - The major implication is that localization is key for renewable energy cooperatives to be significant drivers of renewable energy in Europe. The paper contributes insights on cooperative organization form itself, and by addressing how transaction costs help in renewable energy proliferation.

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Han, Qi, Yifei Qi, Hua Deng, and Han Liu. "Design and application of distributed photovoltaic transaction consensus mechanism based on blockchain." Journal of Physics: Conference Series 2247, no. 1 (April 1, 2022): 012040. http://dx.doi.org/10.1088/1742-6596/2247/1/012040.

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Abstract In recent years, distributed photovoltaic power generation has developed rapidly, but it has also brought many problems, such as poor equipment reliability, complex operation control, and many management subjects. Under the situation of the development of the electricity market, it is necessary to solve the problem of ensuring the data security of participating in the electricity market. Blockchain technology has the characteristics of traceability, non-tampering of information, openness and transparency, etc., which can satisfy massive transactions and reduce the burden of traditional power transactions. Therefore, based on the typical characteristics of blockchain, this paper analyzes the common attributes of blockchain and electricity market transactions, and adopts the DPOS (delegated proof of stake) consensus mechanism to realize distributed photovoltaic transactions. On this basis, this paper utilizes the consensus method based on node credit value and applies it to the actual microgrid distributed photovoltaic power station. The experimental results show that the transaction consensus mechanism proposed in this paper has certain advantages in transaction efficiency and transaction cost, which can provide a practical basis for blockchain to realize distributed photovoltaic transactions.

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Aubert, Benoit A., Suzanne Rivard, and Michel Patry. "A transaction cost model of IT outsourcing." Information & Management 41, no. 7 (September 2004): 921–32. http://dx.doi.org/10.1016/j.im.2003.09.001.

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Kim, Seong-Cheol, and Surender Reddy Salkuti. "Optimal power flow based congestion management using enhanced genetic algorithms." International Journal of Electrical and Computer Engineering (IJECE) 9, no. 2 (April 1, 2019): 875. http://dx.doi.org/10.11591/ijece.v9i2.pp875-883.

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Congestion management (CM) in the deregulated power systems is germane and of central importance to the power industry. In this paper, an optimal power flow (OPF) based CM approach is proposed whose objective is to minimize the absolute MW of rescheduling. The proposed optimization problem is solved with the objectives of total generation cost minimization and the total congestion cost minimization. In the centralized market clearing model, the sellers (i.e., the competitive generators) submit their incremental and decremental bid prices in a real-time balancing market. These can then be incorporated in the OPF problem to yield the incremental/ decremental change in the generator outputs. In the bilateral market model, every transaction contract will include a compensation price that the buyer-seller pair is willing to accept for its transaction to be curtailed. The modeling of bilateral transactions are equivalent to the modifying the power injections at seller and buyer buses. The proposed CM approach is solved by using the evolutionary based Enhanced Genetic Algorithms (EGA). IEEE 30 bus system is considered to show the effectiveness of proposed CM approach.

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Adler, Terry R., and Robert F. Scherer. "A Multivariate Investigation Of Transaction Cost Analysis Dimensions: Do Contract Types Differ?" Journal of Applied Business Research (JABR) 15, no. 3 (August 30, 2011): 65. http://dx.doi.org/10.19030/jabr.v15i3.5673.

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Our study explored the effects of contract type on transaction cost analysis dimensions for research and development projects. Hypotheses from transaction cost analysis theory were tested using archival data from completed contracts used to govern the procurement of defense products. Our results indicate that the type of contract used in an economic exchange is associated with differences in asset specificity, uncertainty, and contract incompleteness. Two underlying dimensions were evident at the multivariate level that indicate how individual transaction cost indicators combine as a set based on the degree of contract impediments and human asset specificity. Results are also discussed in the context of contract type differences on each transaction cost analysis indicator.

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Wang, Wenjuan, Deqiang Teng, Ming Chen, Yan Ge, and Yibo Zou. "A trading matching model for aquatic products based on blockchain and credit mechanisms." Mathematical Biosciences and Engineering 20, no. 11 (2023): 19732–62. http://dx.doi.org/10.3934/mbe.2023874.

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<abstract> Current online transactions of aquatic products are often plagued by problems such as low efficiency, high platform supervision cost, insufficient trust and leakage of transaction data. Blockchain has been widely used in many different fields due to its decentralization, non-tampering and distributed data management. In order to resolve the existing problems, a blockchain-based aquatic product trading matching model integrated with credit mechanisms is proposed in this study to improve the efficiency, quality, security and satisfaction of online transactions for aquatic products. Then, based on this model, an online trading matching prototype system for aquatic products is developed, taking the Hyperledger Fabric as the underlying architecture. The performance testing of the prototype system has demonstrated that the introduction of the credit mechanism has a certain improvement effect on the trading matching results of aquatic products, and the system can complete more than 1000 transactions within half an hour, which can satisfy the normal business-to-business online transaction needs for aquatic products. To a certain extent, it can reduce the security risks and supervision cost, and improve the efficiency and satisfaction of online transaction. This study can also bring insights to blockchain-based online trading models in other industry fields. </abstract>

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Dwyer, F. Robert, and Sejo Oh. "A Transaction Cost Perspective on Vertical Contractual Structure and Interchannel Competitive Strategies." Journal of Marketing 52, no. 2 (April 1988): 21–34. http://dx.doi.org/10.1177/002224298805200202.

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Despite potent theory to contrast transactional governance in “markets and hierarchies,” the variety of extant channel systems strains this dichotomy. The authors examine three contractually integrated channel systems in the hardware industry: wholesale voluntary chains, dealer cooperatives, and independents. They extrapolate from a transaction cost perspective to frame hypothesized differences in decision making structures and competitive strategic postures across relational forms. Results from a sample survey of retail informants are generally supportive.

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Chen, Hefeng, Hsiao-Ling Wu, Chin-Chen Chang, and Long-Sheng Chen. "Light Repository Blockchain System with Multisecret Sharing for Industrial Big Data." Security and Communication Networks 2019 (October 16, 2019): 1–7. http://dx.doi.org/10.1155/2019/9060756.

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Blockchain is an emerging technology that promises many exciting applications in various fields, including financial, medical, energy, and logistics management. However, there are still some limitations in the existing blockchain framework that prevents its widespread adoption in the commercial world. One important limitation is the storage requirement, wherein each blockchain node has to store a copy of the distributed ledger. Thus, as the number of transactions increases, this storage requirement grows quadratically, eventually limiting the scalability of a blockchain system. Moreover, the public ledger in a blockchain framework allows anyone in the network to audit the transaction, which may not be favourable in some privacy-sensitive applications. In this paper, a secret-sharing scheme is proposed to reduce the size of the blockchain transactions. Each transaction block is divided into t parts, and the size of each part is 1/t size of transaction block. We use the secret-sharing mechanism to share t parts into n shares. Hence, each node stores not one transaction but one share in the blockchain system. The proposed scheme can eventually reduce the storage cost of a blockchain transaction by 1/t without introducing an additional recovery communication cost; however, robustness is reduced in node failure as a tradeoff. Meanwhile, the proposed scheme was more efficient and secure compared to other state-of-the-art schemes that aim to reduce blockchain storage for industrial big data.

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Banterle, A., S. Stranieri, and L. Baldi. "Traceability and vertical co-ordination in the Italian dairy chain: A transaction cost approach." Journal on Chain and Network Science 6, no. 1 (June 1, 2006): 69–78. http://dx.doi.org/10.3920/jcns2006.x066.

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The purpose of this paper is to analyse how the introduction of a voluntary traceability system affects the organisation of economic relationships throughout the Italian dairy chain. Using the theoretical framework of transaction cost economics, we assess whether traceability increases the degree of vertical co-ordination and changes the level of the transaction key features, i.e. degree of asset specificity, uncertainty and frequency of transactions. A survey was conducted by questionnaire to assess changes in vertical relations, and to underline the different organisational solutions of dairy firms we carried out factor and cluster analysis. The results show increased bilateral dependency among the economic agents as a consequence of the rise in human, physical and site assets. At the same time, growth in the frequency and quantity of information exchanged is observed. Moreover, for medium-sized firms economic incentives play an important role in guaranteeing the safeguarding of transactions, whereas big firms adopt contractual supports.

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SYAHRIL, E. "AN OPTIMAL CONTROL FORMULATION OF PORTFOLIO SELECTION PROBLEM WITH BULLET TRANSACTION COST." Journal of Mathematics and Its Applications 2, no. 1 (July 1, 2003): 25. http://dx.doi.org/10.29244/jmap.2.1.25-36.

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This paper formulates a consumption and investment decision problem for an individual who has available a riskless asset paying ﬁxed interest rate and a risky asset driven by Brownian mo- tion price ﬂuctuations. The individual is supposed to observe his or her current wealth only, when making transactions, that trans- actions incur costs, and that decisions to transact can be made at any time based on all current information. The transactions costs is ﬁxed for every transaction, regardless of amount trans- acted. In addition, the investor is charged a ﬁxed fraction of total wealth as management fee. The investor’s objective is to max- imize the expected utility of consumption over a given horizon. The problem faced by the investor is formulated into a stochastic discrete-continuous-time control problem.

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Dickmann, Michael, and Shaun Tyson. "Outsourcing payroll: beyond transaction‐cost economics." Personnel Review 34, no. 4 (August 2005): 451–67. http://dx.doi.org/10.1108/00483480510599770.

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