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Transaction cost economics in international marketing: a review and suggestions for the future
Published on Jun 1, 2012in Journal of International Marketing 3.60
· DOI :10.1509/jim.11.0119
Steven H. Seggie10
Estimated H-index: 10
(Özyeğin University)
Abstract
Abstract Transaction cost economics (TCE) has received much attention in the international marketing literature over the past 25 years. Many key issues in international marketing have been examined through the lens of TCE, including entry mode choice, the governance of international distribution channels, propensity to franchise, international pricing control, and the governance of international buyer–supplier relationships. The author presents a review and analysis of 43 empirical TCE international marketing studies from 1987 to the present day. The results from this review and analysis indicate that the extant international marketing TCE studies demonstrate some support for the TCE propositions. In addition to these findings, the author also notes some key measurement issues, issues involving the dominance of U.S.-based studies, and some data equivalence issues. He builds on the results of the analysis to lay out important future research directions in the TCE international marketing domain.
  • References (86)
  • Cited By (13)
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References86
Published on Dec 1, 2003in International Marketing Review 2.60
John K. Ryans2
Estimated H-index: 2
(College of Business Administration),
David A. Griffith44
Estimated H-index: 44
(Saint Petersburg State University),
D. Steven White11
Estimated H-index: 11
(University of Massachusetts Amherst)
For over 40 years academicians and practitioners have debated the standardization versus adaptation of international marketing strategy. Despite the importance of, and tremendous interest in the topic, and the volume of scholarly activity this topic has generated, the debate remains unresolved. Why? Here, it is argued that the last 40 years of scholarly research has advanced without a strong underlying theoretical framework. The historical foundations of the standardization/adaptation perspectiv...
140 Citations Source Cite
Published on Jan 1, 1989in Journal of Economic Behavior and Organization 1.30
Benjamin Gomes-Casseres8
Estimated H-index: 8
(Harvard University)
Abstract This paper explains how multinational enterprises (MNEs) select ownership structures for their foreign manufacturing subsidiaries. It extends the literature on the economics of the MNE and provides new statistical tests of its theoretical predictions. MNEs are found to prefer a joint venture with a host-country firm over a wholly owned subsidiary when: (I) the capabilities of the local firm complement those of the MNE; (2) the contributions of both firms are costlier to transfer contrac...
488 Citations Source Cite
Published on Jan 1, 1988in Journal of Law Economics & Organization 0.95
Hubert Gatignon26
Estimated H-index: 26
(University of Pennsylvania),
Erin Anderson19
Estimated H-index: 19
(University of Pennsylvania)
Should a business function be vertically integrated? Increasingly, economists have acknowledged that this is the wrong question. The right question is to what degree a function should be integrated, whereby integration is a continuum anchored by the options of market and hierarchy (Williamson, 1985). Movement along the continuum from market contracting to unified governance is accompanied by an increased degree to which resources are placed at hazard. The firm is compensated for this by an incre...
1,089 Citations Source Cite
Published on Nov 1, 2007in Journal of International Business Studies 6.20
Yadong Luo63
Estimated H-index: 63
(University of Miami)
Building on economic and social exchange theories, this study develops an integrated model in which curtailing opportunism in international joint ventures (IJVs) requires four interrelated sets of suppressing forces: (1) contractual ordering (contractual inclusiveness and contractual obligatoriness); (2) structural ordering (managerial governance and equity captiveness); (3) relational ordering (interparty attachment and boundary-spanner ties); and (4) justice ordering (procedural justice and di...
98 Citations Source Cite
Published on Feb 1, 1990in Journal of Marketing Research 3.85
Jan B. Heide27
Estimated H-index: 27
(Case Western Reserve University),
George John22
Estimated H-index: 22
(University of Minnesota)
1,688 Citations Source Cite
Published on Dec 1, 2001in Journal of International Marketing 3.60
Matthew B. Myers15
Estimated H-index: 15
(University of Tennessee),
Michael Harvey34
Estimated H-index: 34
(University of Mississippi)
Abstract In this article, the authors expand traditional channel control models to investigate the value of absorbing pricing decisions within an exporter’s decision-making domain. From a governance perspective, pricing control is considered a structured continuum driven by factors both internal and external to the firm. More specifically, the authors investigate the organizational and environmental influences driving pricing control decisions and the impact of pricing control on both the econom...
40 Citations Source Cite
Published on Sep 1, 1976in The Economic Journal 2.95
Oliver E. Williamson70
Estimated H-index: 70
10.9k Citations Source Cite
Published on Dec 1, 2000in Journal of International Business Studies 6.20
Yigang Pan20
Estimated H-index: 20
(University of Hong Kong),
David K. Tse28
Estimated H-index: 28
(University of Hong Kong)
In this study, we propose and test a hierarchical model of market entry modes. Entry modes can first be viewed as equity-based versus non-equity-based. Within equity-based modes, the choice is between wholly owned operations and equity joint ventures, while within non-equity-based modes, the choice is between contractual agreements and export. Empirically, we demonstrate that there are factors that exert substantial influences at the equity versus non-equity level, but rather weak influences at ...
426 Citations Source Cite
Published on Oct 1, 1993in Journal of Marketing 7.34
David M. Szymanski13
Estimated H-index: 13
(College of Business Administration),
Sundar G. Bharadwaj21
Estimated H-index: 21
(Emory University),
P. Rajan Varadarajan30
Estimated H-index: 30
(College of Business Administration)
An issue debated frequently in the international marketing literature centers on whether a business should pursue a strategy that is standardized across national markets or adapted to individual national markets. Of the two aspects relating to standardization of marketing strategy across national markets-(1) standardization of the pattern of resource allocation across marketing mix variables integral to a business's marketing strategy and (2) standardization of the strategy content with respect ...
391 Citations Source Cite
Published on Jun 1, 2000in Journal of International Marketing 3.60
Oliver Bürgel5
Estimated H-index: 5
(London Business School),
Gordon Murray19
Estimated H-index: 19
(London Business School)
Abstract For a young, resource-constrained, technology-based start-up embarking on international sales, the choice of entry mode is a strategic decision of major importance. Yet within the emerging research stream of international entrepreneurship, curiously little attention has been devoted to the empirical analysis of foreign market entry forms. The authors address this important issue by analyzing the determinants of 398 export decisions taken from a U.K. survey of 246 technology-based start-...
378 Citations Source Cite
Cited By13
Published on Sep 9, 2013in International Marketing Review 2.60
Luai Jraisat4
Estimated H-index: 4
(American University of Madaba),
Manto Gotsi14
Estimated H-index: 14
(Cardiff University),
Michael Bourlakis22
Estimated H-index: 22
(Brunel University London)
Purpose – Our understanding of the drivers of information sharing in export supply chains (ESCs) in general, and in agri-food ESCs in particular, remains scarce. In response, the authors’ paper seeks to explore the drivers of information sharing between two key members of an agri-food ESC (producers and exporters) in Jordan and investigate the link to export performance. Design/methodology/approach – The authors use a two-stage qualitative approach. They initially interview seven ESC experts and...
17 Citations Source Cite
George S. Spais5
Estimated H-index: 5
(Hellenic Open University),
Hans Ruediger Kaufmann10
Estimated H-index: 10
(University of Nicosia)
The starting points of this initial exploratory study are two research questions: (1) could marketing relationships in international marketing channels be predicted by international marketing managers’ behavior reflected by “honorable merchants’” key concepts (ethics and trust) and experiential learning key concepts such as capability and competence?; and (2) can we measure the progress of this research theme in the international marketing literature and understand the nature of this phenomenon?...
1 Citations Source Cite
Published on May 6, 2014in International Marketing Review 2.60
David A. Griffith44
Estimated H-index: 44
(Lehigh University),
Hannah S. Lee4
Estimated H-index: 4
(Miami University)
+ 1 AuthorsRoger J. Calantone61
Estimated H-index: 61
Purpose – The purpose of this paper is to explore the marketing “processes” of governing multiple export relationships under the theoretical framework of governance value analysis (GVA). Specifically, this work examines the internal exchange attributes of transaction-specific investments and psychic distance on the adaptation/standardization of relational behavior and detailed contracting and how process adaptation/standardization influences new product outcomes and jointly created value in the ...
20 Citations Source Cite
Published on Jun 1, 2015
Steven H. Dahlquist1
Estimated H-index: 1
(Central Michigan University),
David A. Griffith44
Estimated H-index: 44
(Lehigh University)
Abstract International interfirm marketing collaborations have become increasingly important in the competitive marketplace. Unfortunately, many are unsuccessful in achieving the desired objectives for one or both parties because of factors both internal and external. This work attempts to improve understanding of firms’ governance decision making and draw disparate literature streams together by introducing the concepts of collaborative intensity and collaborative alignment. Through the employm...
4 Citations Source Cite
Published on Sep 1, 2015in Journal of International Marketing 3.60
David A. Griffith44
Estimated H-index: 44
(Lehigh University),
Yanhui Zhao3
Estimated H-index: 3
(Michigan State University)
This work examines contractual governance in international buyer–supplier relationships by investigating the linkages between contract specificity, contract violation, and relationship performance as well as the roles of contract monitoring and a country's institutional factors (i.e., country business risk and country globalization). The findings, based on a survey of international buyer–supplier relationships, provide new insights into a contract specificity → contract violation → relationship ...
27 Citations Source Cite
Published on Sep 1, 2014in Journal of International Marketing 3.60
Lee Li10
Estimated H-index: 10
(York University),
Gongming Qian16
Estimated H-index: 16
(The Chinese University of Hong Kong),
Zhengming Qian2
Estimated H-index: 2
(Xinjiang University)
Abstract This article explores two unresolved issues in the international business literature. First, it is not clear why high-tech firms should standardize their product strategies across countries. Second, the rationale for high-tech firms to forge international strategic alliances (ISAs) is unknown. Drawing on organizational ecology and structural inertia theories, this study proposes that the interactions between a firm's structural inertia and environmental hostility are hazardous to firm p...
11 Citations Source Cite
Published on May 9, 2016in European Journal of Marketing 1.50
Purpose The purpose of this paper is to systematically assess the empirical support for central relationships in the empirical literature on foreign market entry mode. The reviewing method overcomes methodological limitations in past reviews. Design/methodology/approach This review provides a systematic assessment of empirical support through a simple quantitative procedure using transparent criteria for article selection. In total, 1,217 statistical tests from 119 studies published in 44 differ...
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Published on Jan 1, 2016
Sebastian Ludorf (University of Göttingen)
Transaction cost economics (TCE) is one of the most dominant theories in contemporary business-to-business research and is frequently used in marketing. However, the high amount of academic attention has also led to some criticisms. This paper focuses primarily on the missing dimension of time and the neglected social embeddedness of transactions. It presents an approach to resolve these criticisms by integrating social capital as a new variable into TCE. For this purpose, a dynamic transaction ...
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View next paperRelationship marketing in an international context: a literature review