The role of trustworthiness in reducing transaction costs and improving performance: Empirical evidence from the United States, Japan, and Korea
The role of trustworthiness in reducing transaction costs and improving performance: Empirical evidence from the United States, Japan, and Korea
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DOI：
10.1287/orsc.14.1.57.12806
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发表时间：
2003-01-01
影响因子：
4.1
通讯作者：
Chu, WJ
中科院分区：
文献类型：
--
作者：
Dyer, JH;Chu, WJ
本文以美国、日本和韩国的344家供应商-汽车制造商交换关系为样本，研究了供应商对买方的信任与交易成本和信息共享之间的关系。我们的研究结果表明，感知可信度降低了交易成本，并与供应商-买方关系中更多的信息共享相关。此外，研究结果表明，为交易者创造的价值。就较低的交易成本而言，可能是实质性的。我们特别发现，与最受信任的汽车制造商相比，最不受信任的汽车制造商花在与供应商签订合同和讨价还价上的面对面互动时间要多得多。这意味着，最不受信任的汽车制造商的采购（交易）成本要高出5倍。最后，我们认为信任作为一种治理机制是独特的，因为它不仅使交易成本最小化，而且与信息共享具有相互因果关系，并在交换关系中创造价值。其他治理机制（例如，合同、金融人质）是为防止机会主义行为而产生的必要成本，但不能创造交易成本最小化之外的价值。我们的研究结果提供了经验证据，证明诚信降低了交易成本，可能是竞争优势的重要来源。
In this paper we investigate the relationship between supplier trust in the buyer and transaction costs and information sharing in a sample of 344 supplier-automaker exchange relationships in the United States, Japan, and Korea. Our findings indicate that perceived trustworthiness reduces transaction costs and is correlated with greater information sharing in supplier-buyer relationships. Moreover, the findings suggest that the value created for transactors. in terms of lower transaction costs, may be substantial. In particular, we found that the least-trusted automaker spent significantly more of its face-to-face interaction time with suppliers on contracting and haggling when compared to the most trusted automaker. This translated into procurement (transaction) costs that were five times higher for the least trusted automaker. Finally, we argue that trust is unique as a governance mechanism because it not only minimizes transaction costs, but also has a mutually causal relationship with information sharing, which also creates value in the exchange relationship. Other governance mechanisms (e.g., contracts, financial hostages) are necessary costs incurred to prevent opportunistic behavior, but do not create value beyond transaction-cost minimization. Our findings provide empirical evidence that trustworthiness lowers transaction costs and may be an important source of competitive advantage.