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Type of Document Dissertation Author Crook, Thomas Russell Author's Email Address russell_crook@yahoo.com URN etd-06242005-171552 Title Transaction Attributes and Governance Choice: A Meta-Analytic Examination of Key Transaction Cost Theory Predictions Degree Doctor of Philosophy Department Management, Department of Advisory Committee
Advisor Name Title David J. Ketchen, Jr. Committee Co-Chair James G. Combs Committee Co-Chair Larry Giunipero Committee Member William Anthony Committee Member Keywords
- Governance Choice
- Transaction Costs
- Asset Specificity
- Uncertainty
- Frequency
- Williamson
Date of Defense 2005-06-14 Availability unrestricted Abstract Since its introduction by Williamson (1975), transaction cost theory (TCT) has become one of the most influential theoretical perspectives used for explaining how economic activity is governed. TCT asserts that the nature of a transaction drives governance decisions such that asset specificity, uncertainty, and frequent transactions give rise to the threat of opportunism, which increases transaction costs, and leads firms towards more integration. Although three decades have passed since its introduction and over 100 empirical journal articles have been published, more recent theoretical developments as well as contradictory findings have called TCT’s empirical validity into question. By aggregating findings via meta-analysis, I take a step toward resolving these contradictory findings. Specifically, I found minimal evidence supporting the relationships between asset specificity or frequency and governance choice, and no relationship between environmental or behavioral uncertainty and governance choice. Further, there was evidence supporting the notion that matching transactions to the appropriate degree of integration impacts firm performance. Thus, I conclude by suggesting that although TCT helps explain governance choice decisions, the inclusion of other theoretical perspectives is also needed to provide a more comprehensive understanding of how firms govern economic activity.Files
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