Effective Interfirm Collaboration: How Firms Minimize Transaction Costs and Maximize Transaction Value

摘要

This study of automotive transaction relationships in the U.S.A. and Japan offers data whichindicate that transaction costs do not necessarily increase with an increase in relationship-specificinvestments. We empirically examine the conditions under which transactors can simultaneouslyachieve the twin benefits of high asset specificity and low transaction costs. This is possiblebecause the different safeguards which can be employed to control opportunism have differentset-up costs and result in different transaction costs over different time horizons. We examinein detail the practices of Japanese firms which result in effective interfirm collaboration.