Abstract The aim of this study is to analyse inter-firm corruption and ascertain whether the proximity firms engaged in a significant factor. We draw on transaction cost theory explore two forms corrupt exchange (negotiated vs. productive) role reducing costs. obtained original data from judgements Italian Court Cassation clustered homogeneous proximities. then used separate binomial logistic r...

This article reexamines the administered contracts approach to regulation in light of recent empirical research that establishes the importance of transaction-costs in the organizational choice and design decisions. After reviewing the fundamentals of transaction cost reasoning and the franchise bidding-versus-regulation debate, the study surveys the empirical literature on franchise bidding, c...

Physical communication links are all owned by some organization or another. The owning body may choose to let transactions utilize their resources freely without charge or they may assign a cost for the usage. Typically the cost of using a communication link is either based upon a flat-fee per transaction, the number of messages transmitted over the link for the transaction, the submission time...

This study examines the usefulness of the theory of transaction cost economics (TCE) for the online travel market and investigates customer satisfaction and loyalty with the transaction cost over the Internet taken into account. Using structural equation modelling (SEM), the authors identify the relationships among the antecedents (uncertainty, personal security and buying frequency), the media...

Commodity money arises endogenously in a general equilibrium model with separate budget constraints for each transaction. Transaction costs imply differing bid and ask (selling and buying) prices. The most liquid good—with the smallest proportionate bid/ask spread—becomes commodity money. General equilibrium may not be Pareto efficient. If zero-transaction-cost money is available then the equil...

The vast majority of research related to optimal asset allocation strategies in the presence of transaction costs, requires formulation of highly sophisticated numerical schemes for the estimation of no-transaction bands; moreover, the optimization objectives examined are far less compared to the number of works that assume frictionless trading. In this article, we point out that an investor ma...