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Asset specificity and relationship performance: A meta-analysis over three decades

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  • Delbufalo, Emanuela

Abstract

In buyer-supplier relationships firms may find it convenient or economical to unilaterally invest in high levels of assets exclusively dedicated to a specific transaction. While they can be associated with potential benefits, such investments dedicated to a specific relationship incorporate risks as their utility and value are tied to the relationship continuation. This study investigates the direct effects of high asset specificity on relationship performance by focusing on the theoretical tensions between Transaction Cost Economics (TCE) and Relational Exchange Theory (RET). A meta- analysis of 33 articles is adopted to investigate the empirical literature on the topic. The results show a positive effect of high asset specificity on relationship performance. However, by unveiling some inconsistencies in the empirical literature, this study also proposes a possible reconciliation of TCE and RET perspectives, with the intention of depicting a more comprehensive view of the phenomenon.

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  • Delbufalo, Emanuela, 2021. "Asset specificity and relationship performance: A meta-analysis over three decades," Journal of Business Research, Elsevier, vol. 134(C), pages 105-121.
    • Handle: RePEc:eee:jbrese:v:134:y:2021:i:c:p:105-121
    DOI: 10.1016/j.jbusres.2021.05.015
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