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首页> 外文期刊>International journal of applied mechanics >Effect of Transaction Rules on Enterprise Transaction Costs Based on Williamson Transaction Cost Theory in Nanhai, China
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Effect of Transaction Rules on Enterprise Transaction Costs Based on Williamson Transaction Cost Theory in Nanhai, China

机译：交易规则对基于南海威廉姆森交易成本理论的企业交易成本的影响

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The high transaction costs due to the incomplete information and transaction rules of the rural collective construction land (RCCL) market indicate that the government must improve the rural collective construction land market. Transaction rules are an important means for the government to intervene in the market and promote the development of market order, to secure land tenure, and to improve the disclosure of information. Vertical integration may reduce enterprise transaction costs but will increase the governance cost of internal organizations in enterprises. Land commercialization and corporate governance restructuring is a considerable challenge worldwide. Using a field survey in Nanhai district, Guangdong province, China, we estimated how the transaction costs of the RCCL are influenced not only by three dimensions of transaction rules-openness, equity, and justice-but also by the human asset in EC or EJC. Tobit models were constructed, and the results show that (1) the greater number of collective leaders, the higher the enterprise transaction cost (human asset in EC or EJC increases transaction costs of enterprises) and (2) the transaction rules are not sufficiently open or fair, which leads to high costs of market information searching, opportunism, and corruption. The transaction information is not transparent and the lag in transaction supervision mode gives rise to unfair transactions, in which the formation mode of land price is unreasonable. Therefore, we suggest that the transaction rules of RCCL market should be further improved in the three dimensions of openness, equity, and justice. Chinese authorities should strengthen their current efforts to build a more open and fair market by reducing the transaction costs of enterprises and improving the transaction efficiency. Our work provides some insights into the improvement of market efficiency which will contribute to the development of the RCCL market in other areas of China and worldwide.
机译：由于农村集体建设土地（RCCL）市场的不完整信息和交易规则，高昂的交易成本表明，政府必须改善农村集体建设土地市场。交易规则是政府干预市场的重要手段，促进市场秩序的发展，以保护土地任期，并改善信息披露。垂直整合可能会降低企业交易成本，但会增加企业内部组织的治理费用。土地商业化和公司治理重组是全世界有相当大的挑战。中国广东省南海区的现场调查，我们估计了RCCL的交易成本不仅受到交易规则开放，公平和正义的三个方面的影响 - 也受到EC或EJC中的人类资产。 Tobit模型被建成，结果表明，（1）集体领导者数量越多，企业交易成本越高（EC或EJC的人类资产增加企业的交易成本）和（2）交易规则不够开放或公平，导致市场信息的高成本，搜索，机会主义和腐败。交易信息不透明，交易监督模式下的滞后导致不公平交易，其中土地价格的形成模式是不合理的。因此，我们建议RCCL市场的交易规则应进一步改善开放，股权和正义的三个维度。中国当局应加强目前通过降低企业的交易成本并提高交易效率来建立更开放和公平的市场。我们的工作提供了一些洞察力，提高了市场效率，这将有助于发展中国和全球其他地区的RCCL市场。

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