Cooperation governance mode: an extended transaction cost approach |
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Authors: | Hanna Kuittinen Kalevi Kyläheiko Jaana Sandström Ari Jantunen |
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Institution: | (1) School of Business, Lappeenranta University of Technology, P.O. Box 20, 53851 Lappeenranta, Finland |
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Abstract: | This paper analyses the cooperation governance mode and possible factors affecting the choice between an equity joint venture
and a contractual agreement. Although transaction cost economics (TCE) provides a workable and well-used framework within
which to analyse this choice, it only captures the static transaction costs related to the two modes. This has lead to a discussion
about dynamic governance costs and possible benefits related to the governance mode. The objective of this paper is to show
how this extended framework differs from TCE when determining the appropriate governance mode. We use four factors related
to nature of cooperation to contrast these two approaches. We collected empirical data about cooperation in the information
and communications technology (ICT) sector in order to find support for these arguments. Estimates based on logistic regression
analysis suggest that our dynamic governance cost and benefit perspective really provides valuable complementary insights
into the traditional static transaction-cost framework when it is a question of the choice of alliance form. |
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