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An agency/transactions-costs approach and application to vertical coordination arrangements in food and agricultural markets.

机译：在粮食和农业市场的纵向协调安排中采用机构/交易成本方法并将其应用。

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摘要

A micro-analytic approach based on an integration of elements from Agency and Transactions-cost theories, was followed to develop a theoretical framework for characterizing vertical coordination decisions at the firm level. Vertical coordination modes were defined as all possible arrangements between buyers and sellers along a continuum including spot markets and vertical integration at the extremes, and contracts in between. By including asset specificity in a principal-agent model under conditions of uncertainty and different risk attitudes, the study's main argument has been that both individuals' characteristics (such as risk attitudes, leverage position, and size) and transaction attributes jointly determine optimal vertical coordination mode decisions. An experimental design approach with an application to crop contracting in East Central Illinois, was followed to test the study's hypotheses. In addition to supporting transactions-costs arguments and mainly the significant effect of asset specificity in driving organizational form choice, the results further suggest that a joint treatment of transaction and individual characteristics is warranted, for explaining and predicting vertical coordination or organizational form decisions.
机译：遵循了基于代理和交易成本理论的要素整合的微观分析方法，以开发用于表征企业层面纵向协调决策的理论框架。纵向协调模式被定义为买卖双方之间的所有可能安排，包括现货市场和极端情况下的纵向整合以及两者之间的合同。通过在不确定性和不同风险态度的条件下将资产专用性包括在委托-代理模型中，该研究的主要论点是，个人的特征（例如风险态度，杠杆头寸和规模）和交易属性共同决定最佳的纵向协调模式决定。随后采用了一种实验性设计方法并将其应用于伊利诺伊州中部东部的农作物紧缩，以检验该研究的假设。除了支持交易成本论证（主要是资产特异性在驱动组织形式选择方面的显着影响）之外，结果还表明，有必要对交易和个人特征进行联合处理，以解释和预测纵向协调或组织形式决策。

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  • 作者

    Lajili, Kaouthar.;

  • 作者单位

    University of Illinois at Urbana-Champaign.;

  • 授予单位 University of Illinois at Urbana-Champaign.;
  • 学科 Economics Agricultural.;Economics Commerce-Business.
  • 学位 Ph.D.
  • 年度 1995
  • 页码 191 p.
  • 总页数 191
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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