Competition, Governance, and Relationship-Specific Investments: Theory and Implications for Strategy
STRATEGIC MANAGEMENT JOURNAL(2013)
摘要
This paper uses biform games to examine the endogenous decision to invest in relationship-specific assets. It addresses the questions of how competition affects suppliers' decisions to produce a general-purpose product or a relationship-specific product for a buyer and under what circumstances a governance arrangement designed to share investment costs between the transacting parties increases the investment in relationship-specific assets. We offer a balanced perspective that emphasizes both the superior transaction value of relationship-specific products and their high transaction costs while considering the competition effects generated by alternative investment plans. The model and its extensions generate new insights into investment decisions regarding relationship-specific assets. Copyright (C) 2013 John Wiley & Sons, Ltd.
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关键词
asset specificity,relationship-specific investment,competition,governance,biform game
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