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Significance Of Reputation Through The Perspective Of Asset Specificity Transaction Cost Theory

Author

Listed:
  • Edward Veckie

    (Unified Engineering.com Corp)

  • Vlado Walter Veckie

    (Unified Engineering.com Corp)

Abstract

The purpose of this paper is to examine the influence of reputation and Oliver Williamson’s conception of asset specificity as drivers for competitiveness. More specifically, this paper develops the idea of reputation as it relates to buyer/supplier relationships. A consideration of the costs associated with economic exchange can yield insights and help guide corporate strategy as to whether to acquire an asset, what to outsource or vertically integrate, where to situate a business, or whether to invest in a dedicated supplier. Reputation can affect business outcomes through the channel of asset specificity and can be analyzed through the lens of transaction costs.

Suggested Citation

  • Edward Veckie & Vlado Walter Veckie, 2015. "Significance Of Reputation Through The Perspective Of Asset Specificity Transaction Cost Theory," Economy of eastern Croatia yesterday, today, tommorow, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 4, pages 509-517.
    • Handle: RePEc:osi:eecytt:v:4:y:2015:p:509-517
    as

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    File URL: http://www.efos.unios.hr/repec/osi/eecytt/PDF/EconomyofeasternCroatiayesterdaytodaytomorrow04/eecytt0450
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    References listed on IDEAS

    as
    1. Giorgos Meramveliotakis & Dimitris Milonakis, 2010. "Surveying the Transaction Cost Foundations of New Institutional Economics: A Critical Inquiry," Journal of Economic Issues, Taylor & Francis Journals, vol. 44(4), pages 1045-1072.
    2. Rose, Caspar & Thomsen, Steen, 2004. "The Impact of Corporate Reputation on Performance:: Some Danish Evidence," European Management Journal, Elsevier, vol. 22(2), pages 201-210, April.
    3. Jeffrey H. Dyer & Wujin Chu, 2003. "The Role of Trustworthiness in Reducing Transaction Costs and Improving Performance: Empirical Evidence from the United States, Japan, and Korea," Organization Science, INFORMS, vol. 14(1), pages 57-68, February.
    4. Cravens, Karen & Goad Oliver, Elizabeth & Ramamoorti, Sridhar, 2003. "The Reputation Index:: Measuring and Managing Corporate Reputation," European Management Journal, Elsevier, vol. 21(2), pages 201-212, April.
    5. Williamson, Oliver E, 1983. "Credible Commitments: Using Hostages to Support Exchange," American Economic Review, American Economic Association, vol. 73(4), pages 519-540, September.
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