Managing Perceived Risks through Supply Chain Relationships: An Empirical Study of the UK Beef Sector
AbstractThis study offers an alternative to the traditional Transaction Cost Economics view of the treatment of information by viewing co-ordinated supply chains as a series of Principal-Agent relationships, and draws on Perceived Risk Theory to explain both consumer and organisational behaviour. Using a supply chain methodology, empirical evidence is presented of the perceived risks, associated management strategies and benefits for all members, including consumers/customers, for two co-ordinated supply chains for own brand fresh beef products in the UK, one in the retail sector and one in the foodservice sector. The results conclude that the establishment of the two co-ordinated supply chains reduces perceived risk for consumers and each participating organisation by increasing information on members� goals and behaviour, recognising perceived risk at each point and offering both positive and negative incentives to meet contractual requirements.
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Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 99th Seminar, February 8-10, 2006, Bonn, Germany with number 7724.
Date of creation: 2006
Date of revision:
contractual relationships; perceived risk; agency theory; Agribusiness; Livestock Production/Industries; Risk and Uncertainty;
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- Ross, Stephen A, 1973. "The Economic Theory of Agency: The Principal's Problem," American Economic Review, American Economic Association, vol. 63(2), pages 134-39, May.
- Jill E. Hobbs, 1997. "Measuring the Importance of Transaction Costs in Cattle Marketing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1083-1095.
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