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Combining Commerce and Culture

Author

Listed:
  • Krug, B.
  • Belschak, F.D.

Abstract

It seldom happens that new firms, new industries, and new business systems need to be developed simultaneously. This, however, is the situation in transition economies such as China. Irrespective of product and technology used, incentives and governance structures need to be formulated that give business endeavours an organisational form. The survivability of firms depends further on the ability to start and maintain long-term business relations between contracting parties, while only a broad consensus within the community of entrepreneurs and firms on the procedures that co-ordinate business relations and sanctions transgression promises a decline in transaction costs sufficiently enough to trigger off the quick expansion of markets.

Suggested Citation

  • Krug, B. & Belschak, F.D., 2001. "Combining Commerce and Culture," ERIM Report Series Research in Management ERS-2001-84-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
  • Handle: RePEc:ems:eureri:150
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    File URL: https://repub.eur.nl/pub/150/erimrs20020121154930.pdf
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    References listed on IDEAS

    as
    1. Victor Nee, 2000. "The Role of the State in Making a Market Economy," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 156(1), pages 1-64, March.
    2. W-C H Yeung, 1994. "Hong Kong firms in the ASEAN region: transnational corporations and foreign direct investment," Environment and Planning A, Pion Ltd, London, vol. 26(12), pages 1931-1956, December.
    3. Greif, Avner, 1993. "Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders' Coalition," American Economic Review, American Economic Association, vol. 83(3), pages 525-548, June.
    4. Yingyi Qian, 2000. "The Process of China's Market Transition (1978-1998): The Evolutionary, Historical, and Comparative Perspectives," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 156(1), pages 151-151, March.
    5. Rozelle, Scott & Li, Guo, 1998. "Village Leaders and Land-Rights Formation in China," American Economic Review, American Economic Association, vol. 88(2), pages 433-438, May.
    6. Judith Mehta & Barbara Krug, 2000. "Entrepreneurship by Alliance," Open Discussion Papers in Economics 21, The Open University, Faculty of Social Sciences, Department of Economics.
    7. W-C H Yeung, 1994. "Hong Kong Firms in the ASEAN Region: Transnational Corporations and Foreign Direct Investment," Environment and Planning A, , vol. 26(12), pages 1931-1956, December.
    8. Schlicht, Ekkehart, 1998. "On Custom in the Economy," OUP Catalogue, Oxford University Press, number 9780198292241.
    9. Barbara Krug, 1999. "On Custom in Economics: The Case of Humanism and Trade Regimes," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(3), pages 405-405, September.
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    More about this item

    Keywords

    China; business networking; economic development; government; transition;

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform

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