Search results

The aim of the paper is to point out some investigation lines which might result useful in building‐up a theory of the firm based on its resources, capabilities and competences (RCC). While the focus on RCC has helped to address some limitations of the standard contractual paradigm, a positive RCC theory of the firm hesitates to take‐off as its operationalization is still at an early stage. In order to move further towards this task, the paper suggests to: distinguish the nature of the problems of the contractual perspective which an alternative theory should solve (Section 2); identify those RCC features which are essential in connecting them to the core issues of the theory of the firm, that is, existence, boundaries and organization (Section 3); evaluate the implications of any hybridisation attempt between the two firm perspectives (Section 4). The paper then moves some exploratory steps along these research directions, providing some arguments about the opportunity to pursue them further.

Transaction cost economics sees a broad spectrum of governance structures spanned by two types of economic adaptation: autonomous and cooperative. Stakeholder theorists have drawn much inspiration from transaction cost economics but have not paid explicit attention to the centrality of the idea of adaptation in this literature. This study aims to address this gap.

The authors develop a novel conceptual framework applying the distinction between the two types of economic adaptation to stakeholder theory.

The authors argue that the idea of cooperative adaptation is particularly useful for describing the firm’s collaboration with primary stakeholders in the joint value creation process. In contrast, autonomous adaptation is more relevant for firms interacting with secondary stakeholders who are not directly engaged in joint value creation and may not have formal contractual relationships with the firm. Accordingly, cooperative adaptation can be seen as vital for resolving team production problems affecting joint value creation, whereas autonomous adaptation addresses how the firm maintains legitimacy within the larger stakeholder environment.

Similar to its significance for transaction cost economics, the distinction between the two types of adaptation equips stakeholder theory with a new systematic understanding of a potentially broad spectrum of firm–stakeholder collaboration forms.

In a departure from the efficiency theory assumptions implicit in most supply chain risk management (SCRM) literature, this study aims to explore the role that external neo-institutional pressures play in shaping the risk management strategies deployed to mitigate transaction cost risks in construction supply chains (CSC).

A theory-elaborating case study is used to investigate how regulatory, normative and mimetic neo-institutional pressures underpin SCRM strategies in state-led and private-led CSC in China.

The study finds that institutionalized Confucianist networks serve as proxies for regulatory accountability and thereby create a form of dysmorphia in the regulatory, normative and mimetic drivers of SCRM strategies in state-led and private-led CSC in China.

The findings reveal that relational costs such as bargaining, transfer and monitoring costs underpin SCRM in state-led CSC. Behavioral costs associated with search, screening and enforcement are the core drivers of SCRM in private-led CSC. These differences in transaction cost drivers of SCRM arise from the risk-buffering effect of personalized Guanxi networks, creating variants of institutional pressures on actors' risk analysis, identification and treatment strategies in China. Considering China's global hegemony in construction and related industries, this study provides valuable insights for practitioners and researchers on the need for a constrained efficiency view of SCRM in global CSC.

This chapter provides a selective survey of the theoretical and empirical literature to date on the relationship between intellectual property rights (IPRs) and measures of innovation and international technology transfer. The chapter discusses the empirical implications of theoretical work, assesses the theoretical work based on the evidence available, and identifies some gaps in the existing literature.

Managerial decision making regarding using organizational forms methodology to develop technological innovations in the context of technological strategy has not been the subject of a prolific number of studies; nevertheless, it has proven to be an important matter. This is particularly notable in the Iberoamerican context, where a theoretical framework has not been developed yet. It is within such a context that this empirical research intends to determine the organizational forms used by companies of the machine‐tool sector of the Basque Country in their implementation of processes of technological innovation. This research is supported by the theoretical framework provided by transaction cost economics, evolutionary economics, and competitive strategy theories. It also uses the contrasting approach as a starting point for proposing some extensive ideas on this issue.

The main objective of customer satisfaction programs is to increase customer retention rates. In explaining the link between customer satisfaction and loyalty, switching costs play an important role and provide useful insight. For example, the presence of switching costs can mean that some seemingly loyal customers are actually dissatisfied but do not defect because of high switching costs. Thus, the level of switching costs moderates the link between satisfaction and loyalty. The purposes of this paper are: to examine the moderating role of switching costs in the customer satisfaction‐loyalty link; and to identify customer segments and then analyze the heterogeneity in the satisfaction‐loyalty link among the different segments. An empirical example based on the mobile phone service market in France indicates support for the moderating role of switching costs. Managerial implications of the results are discussed.

This article classifies empirical research on vertical integration under four approaches – value-added-to-sales, qualitative–quantitative, input–output, and microanalytic. The emphasis here is on the microanalytic approach which has accumulated the most systematic evidence to support its theoretical propositions. In particular, this article emphasizes theoretical and empirical contributions from organizational economics (especially transaction costs and agency theories) for both vertical integration and (vertical) contracting. Limitations and methodological challenges concerning the empirical testing of theories of vertical integration are addressed and suggestions for further research are provided.

The purpose of this paper is to develop a cross-cultural scale of customers’ perceived switching costs (PSCs). Customers’ PSCs function as a powerful defensive marketing tool that restrains customers from switching.

Four sets of survey data were collected in the UK, Egypt, Germany, and China. An overall response rate of 86 percent was achieved across the four countries. Cross-cultural equivalence of the PSCs scale was assessed using multi-group confirmatory factor analysis.

Tests of configural, metric, and factor variance invariance confirmed that the PSCs scale is appropriate for meaningful cross-cultural comparisons.

Data were collected in four countries from the financial service context. Future researchers should test the short-form PSCs (PSCs-S) scale across different cultural and industrial contexts to enhance its generalizability.

The cross-cultural PSCs-S scale presented here will enhance international marketing researchers’ ability to test theory containing customers’ PSCs as central variables, and provide managers with a measurement tool that they can use to better segment and manage their customers.

This study is one of the first to develop a cross-cultural PSCs scale. Despite the growth of research into customers’ PSCs, research on the topic has been limited by the lack of a cross-cultural measurement instrument. The latter now furnishes the research community with the opportunity to gain a fuller understanding of switching behavior, to establish the scale's generalizability, and to make meaningful comparisons of PSCs across cultures.

Words like “marriage,” “mutual trust” and “partnership” are often used to describe buyer‐supplier relationships in a Just‐in‐Time environment. Using a transaction cost economics framework, we contend that this structure is and will continue to be the most efficient arrangement for both parties, as long as the balance of power is maintained. However, as the relationship evolves over time, the balance of power can shift and “cooperation” can turn into abuse.

This paper aims to explore benefits customers expect from a long‐term relationship with their bank and the costs associated with such a relationship; it further tests these relational benefits and costs as segmentation variables.

A qualitative study based on three focus groups was designed to provide initial input on different types of expected relational benefits and costs. Then, quantitative data were collected from a survey of 209 real bank customers.

Analysis reveals five types of expected benefits and two types of costs. Four clusters were formed out of these seven expected benefits/costs. These clusters are also different on demographic, behavioral and psychographic variables and present clear and consistent relational profiles.

Scales developed from the focus groups need further validation. Also, findings should be considered as sector and context specific. This work brings additional insight into the nature of expected relational benefits and costs, supports their usefulness for customer segmentation and offers opportunities for studying relational benefits and costs in an integrated way.

Findings provide managers with a better understanding of what customers value in the relationship with their bank and what keeps customers back from having a “close” relationship. Also, relational benefits/costs segmentation is suggested as a powerful tool for targeting and positioning.

The study identifies new types of relational benefits and costs. It is the first time expected relational benefits and costs are studied together and confirmed as meaningful segmentation variables.