A note on countertrade: Contractual uncertainty and transaction governance in emerging economies
成果类型：
Article
署名作者：
Choi, CJ; Lee, SH; Kim, JB
署名单位：
University of London; Birkbeck University London
刊物名称：
JOURNAL OF INTERNATIONAL BUSINESS STUDIES
ISSN/ISSBN：
0047-2506
DOI：
10.1057/palgrave.jibs.8490066
发表日期：
1999
页码：
189-201
关键词：
摘要：
This paper develops a conceptual framework for analyzing organizational responses to contractual uncertainty in the context of emerging economies. Elaborating on Hennart's (1989) transaction cost rationale for countertrade, we develop a typology of exchange and transaction governance pertinent to the study of emerging economies: Contract, trust and hostage. Notwithstanding the traditional explanation based on foreign ex-change shortage, we argue that the persistence of international countertrade illustrates organizational remedies to institutional deficiency in transaction governance.
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