Integrating Variable Risk Preferences, Trust, and Transaction Cost Economics

Chiles, Todd H.; McMackin, John

doi:10.5465/amr.1996.9602161566

Cited by 708 publications

(386 citation statements)

References 47 publications

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“…Such "misfit" firms have been shown to be less profitable (Chiles/McMackin 1996, Brouthers/Brouthers/Werner 2003, Silverman/Nickerson/ Freeman 1997. For TCI theory, deviations from this optimum amount of international diversification are likely to be random, thus yielding no direct correlation between international diversification and performance.…”

Section: Some Additional Implications Of Tci Theorymentioning

confidence: 99%

The theoretical rationale for a multinationality-performance relationship

2007

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Section: Some Additional Implications Of Tci Theorymentioning

confidence: 99%

The theoretical rationale for a multinationality-performance relationship

2007

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“…If business partners can trust each other, contractual arrangements may be reduced or avoided, implying lower costs and thus securing competitive advantage (Chiles and McMackin, 1996). Chen (2000) shows that trust is widely relied on in transactions involving relatively low monetary value and considerable resources are sometimes used in structuring contracts when the transactions involved have relatively high monetary value.…”

Section: Relationshipsmentioning

confidence: 99%

Agreements and Relationships of Market Actors for Mindanao Yellow Corn

Calica

Eleria

2018

int.jour.sci.res.mana

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This study aimed to understand the relationships among the different actors involved in the handling practices of marketing yellow corn from Mindanao to Cebu and Manila focusing on the agreements and trust rating among the marketing actors. Descriptive analysis was employed in this study. Results showed that the agreements among the marketing actors were all informal arrangements. Asymmetric information was evident on the farmers in the marketing chain because they were not properly informed by the other actors along the chain on the quality requirement of the end users resulting only to high production costs. Results indicated that farmers trusted those they dealt with directly in the traditional system. Traders had some trust to both the farmers and processor/feedmillers because of the risks involved on his investment. Processors/integrators had complete trust with each other because they were the direct link from the source. Between the distributors and the feedmillers, trust was reciprocated because they were dependent to each other regarding the supply of corn. In the bulk handing system, farmers and processor/shippers had some trust with each other because processor/shippers dealt with several farmers to accumulate stocks same as the farmer who could choose whom to sell his produce. The frequent exchange of information and transparency of information creates trust in buyer-supplier relationships in the value chain thereby producing good quality corn. Moreover, aggressive promotion through trainings, publications and other media forms on the adoption of bulk handling system must be implemented by the government.

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“…In the context of the above, the research, whose implementation was conditional to attempt to answer the following question, was begun 5 : is the quantity of products implemented by the manufacturer a derivative of trust developed between him/ her and his/her recipients? In the context of such a question, the main objective of the paper is an attempt to illustrate trust -created by the manufacturer -as an attribute promoting his/her implementation fl exibility, which is understood as the organisation's capacity to implement new products, for extensive and unexpected changes rapidly occurring in the environment; these implementations signifi cantly affect the organisation's results (implementation effi ciency).…”

Section: Bogdan Nogalski Przemysław Niewiadomskimentioning

confidence: 99%

Trust as a factor activating implementation abilities – from theory to practice of a flexible company

Nogalski¹,

Niewiadomski²

2017

Management

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SummaryAs a result of the wide recognition of the importance of trust as an element related to the cooperation in a variable and hardly predictable environment, the trust was appreciated by management sciences. Thanks to the trust, the organisation can react quickly to changes in a complex and turbulent environment, in which it is necessary to develop new - adequate to the needs - products. In the context of the above, the research was commenced, whose execution was the condition of an attempt to answer the question: is the number of the products implemented by the manufacturer a derivative of trust built between him/her and his/her recipients? In the context of such a question, the main objective of the paper is an attempt to illustrate trust - created by the manufacturer - as an attribute promoting his/her implementation flexibility. The achievement of such an objective is possible thanks to a detailed case analysis of the selected implementation process, which confirms that good relationships between partners - as a result of the increase in production series - may imply a decrease in its unit costs, which leads to significant profits in the long term.

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Integrating Variable Risk Preferences, Trust, and Transaction Cost Economics

Cited by 708 publications

References 47 publications

The theoretical rationale for a multinationality-performance relationship

The theoretical rationale for a multinationality-performance relationship

Agreements and Relationships of Market Actors for Mindanao Yellow Corn

Trust as a factor activating implementation abilities – from theory to practice of a flexible company

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