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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
41

Structural Changes In Fresh Fruit And Vegetable Distribution Channels Between 1982-2012 In Turkey With Specific Emphasis On The Ankara Wholesale Market

Eronat, Munib Ali 01 February 2012 (has links) (PDF)
This study intends to examine the changes in the structural relations between the actors of fresh fruit and vegetable distribution process within a time scope of thirty years perspective. In summary the following questions were tried to be answered: - Who are the actors active in the fresh fruit and vegetable distribution process? - How these actors transformed within a time scope of thirty years and how they were effected from the changes in overall economic developments and government policies? - What potentials do these actors have for the future and what are the key areas of development to sustain a winning environment for all parties involved: for producers, distributors and consumers?
42

Desafios do modelo de franquias no setor de perfumaria e cosméticos brasileiro, sob o ponto de vista de franqueados e franqueadores

Rodrigues, Claudia Regina 16 December 2010 (has links)
Submitted by Cristiane Oliveira (cristiane.oliveira@fgv.br) on 2011-06-02T14:25:41Z No. of bitstreams: 1 68080200008.pdf: 724995 bytes, checksum: 0d232a6a048ed5cbe260b0fe07435cf6 (MD5) / Approved for entry into archive by Suzinei Teles Garcia Garcia(suzinei.garcia@fgv.br) on 2011-06-02T14:47:30Z (GMT) No. of bitstreams: 1 68080200008.pdf: 724995 bytes, checksum: 0d232a6a048ed5cbe260b0fe07435cf6 (MD5) / Approved for entry into archive by Suzinei Teles Garcia Garcia(suzinei.garcia@fgv.br) on 2011-06-02T14:52:37Z (GMT) No. of bitstreams: 1 68080200008.pdf: 724995 bytes, checksum: 0d232a6a048ed5cbe260b0fe07435cf6 (MD5) / Made available in DSpace on 2011-06-02T15:00:36Z (GMT). No. of bitstreams: 1 68080200008.pdf: 724995 bytes, checksum: 0d232a6a048ed5cbe260b0fe07435cf6 (MD5) Previous issue date: 2010-12-16 / The objective of this study is to understand the challenges that could contribute for the franchising to become a representative distribution channel in the Brazilian cosmetic market. The research was conducted from a qualitative approach, in which were made twenty and two interviews with franchisors and franchisees, in the period between September and November of 2010. The interviewees were members of the following companies: Água de Cheiro, Antídoto, Contém 1g, Mahogany e O Boticário. The results were that the franchise model is seen by franchisees and franchisors as a good alternative for distribution and capillarity of the brand. However, the franchise model presents some challenges, such as the improvement of the franchisor´s engagement, a better selection process of franchisees, increase financial support, adjust the stores location method and, finally, improve the method for setting royalties. / O objetivo fundamental deste trabalho foi investigar e entender quais são os desafios para que o modelo de franquias possa crescer ainda mais e adquirir maior representatividade enquanto modelo de distribuição no setor de perfumaria e cosméticos brasileiro. Para isto, utilizou-se, além de uma revisão bibliográfica a partir do referencial teórico disponível, uma abordagem qualitativa, segundo a qual foram realizadas vinte e duas entrevistas com franqueados e franqueadores, no período compreendido entre setembro e novembro de 2010. As empresas representadas por estes entrevistados foram: Água de Cheiro, Antídoto, Contém 1g, Mahogany e O Boticário. A realização destas entrevistas revelou que, embora o modelo de franquias seja visto por franqueados e franqueadores como uma boa alternativa para a distribuição de produtos e para o aumento da capilaridade da marca, o modelo de franquias apresenta alguns desafios a serem alcançados, tais como maior participação ativa da rede franqueadora, melhoria no modelo de avaliação e seleção de franqueados, melhor suporte financeiro aos franqueados nos primeiros anos após a abertura da loja, melhor modelo para escolha da localização das lojas e, por fim, melhor modelo para definição de taxas de royalties.
43

Práticas de marketing de relacionamento entre fabricantes e distribuidores de defensivos agrícolas / Relationship marketing practices between agrichemical\'s producers and distributors

Flávio Ruhnke Valerio 21 September 2015 (has links)
O marketing relacional tem se apresentado como uma alternativa muito promissora para empresas de diversos setores, pois desenvolve chances maiores de fidelização de clientes e promove a competitividade das organizações envolvidas. Apesar dessas vantagens, a maioria dos estudos encontrados sobre o tema, principalmente no setor do agronegócio e para mercados B2B, não se aprofundou na parte operacional de um relacionamento: as práticas e atividades. Com o intuito de explorar essa lacuna na literatura, o trabalho teve como objetivo identificar as práticas mais utilizadas pelos fornecedores e mais valorizadas pelos distribuidores de defensivos agrícolas em seus relacionamentos. Foi realizada uma pesquisa quantitativa por meio da aplicação de questionários com canais de distribuição de defensivos agrícolas. Esses questionários continham diversas práticas de relacionamento identificadas na literatura, variáveis de satisfação e caracterização das revendas. As práticas mais utilizadas e mais bem avaliadas são provenientes dos fatores comunicação, especificação dos papéis e motivação dos funcionários; por outro lado, as que apresentaram baixas taxas de utilização e de valorização foram a de laços, monitoramento e planejamento. A satisfação com os relacionamentos na amostra é afetada positivamente pelos fatores alinhamento, comunicação, especificação dos papéis e monitoramento. Também foram encontradas outras correlações com a satisfação e o tempo de duração do relacionamento. Concluiu-se que os relacionamentos nesse setor ainda são muito focados e concentrados nas vendas, mediante práticas e programas que estimulam resultados de vendas para os agricultores. Basicamente, dois grupos de práticas foram identificados: um em que as práticas são bastante usadas e valorizadas e, trazem satisfação; e as que não são tão usadas e valorizadas, porém aumentam o grau de fidelidade dos distribuidores e são fontes de poder e controle do fabricante. / Relational marketing has emerged as a very interesting alternative for companies from various industries because as it is more likely to develop customer loyalty and promote the competitiveness of the organizations involved. Nevertheless, most studies found on the subject, particularly in agribusiness and the B2B markets have not deepened on the operationalization of relationships: activities and practices. In order to exploit this gap in the literature, the study aimed to identify practices most used by suppliers and more valued by distributors of agrichemicals in their relationships. A quantitative survey was conducted through questionnaires with distribution channels for crop protection. These questionnaires contained several relationship practices identified in the literature, satisfaction variables and characterization of dealers. The most used and best evaluated practices were from the factors communication, role specifications and motivation of employees, on the other hand the ones with low utilization rates and poorest evaluations were the bonds, monitoring and planning. Satisfaction with relationships in the sample is positively affected by the factors alignment, communication, role specification and monitoring. Other correlations with the satisfaction and the time duration of the relationship were also found. It was concluded that relationships in this sector are still very focused and concentrated on sales, through practices and programs that stimulate sales results for farmers. Basically, two groups of practices were identified: one in which the practices are quite used and valued, and bring satisfaction; and those who are not as used and valued, but increases the degree of loyalty of distributors and are sources of power and control to the manufacturers.
44

Marketing Programmes And Technological Developments Across Product Life Cycle : An Exploratory Study In Indian Machine Building Sector

Mohan, Avvari V 09 1900 (has links) (PDF)
No description available.
45

Uma investigação sobre os tipos de confiança e seu desenvolvimento em negócios “business to business”

Santos, Claudia Cincotto dos 18 April 2007 (has links)
Submitted by Nadir Basilio (nadirsb@uninove.br) on 2016-06-09T19:07:43Z No. of bitstreams: 1 Claudia Cincotto dos Santos.pdf: 556338 bytes, checksum: 83486ae37c93c1a6af515b3f11b63753 (MD5) / Made available in DSpace on 2016-06-09T19:07:43Z (GMT). No. of bitstreams: 1 Claudia Cincotto dos Santos.pdf: 556338 bytes, checksum: 83486ae37c93c1a6af515b3f11b63753 (MD5) Previous issue date: 2007-04-18 / Trust has been considered very important in relationships among business-to-business transactions channels. When present, it supports long-term relations, reduces risks and encourages larger investments between the parties involved. It is also a concept, which is extremely complex, that changes its facet according to the evolution of each situation. Understanding the complexity of this issue, as well as its development is mandatory in order to define the marketing strategies to be adopted for each customer segment. This dissertation tries to identify how trust is developed in different relationships among organizations, verifying the evolution with the intensity of its distinct types that an organization might have regarding to its supplier. To reach such a goal, a survey will be applied to clients of a computer product distributor to test the hypothesis of the study in which some types of trust evolve according to the relation path, while others remain constant during all the process. The findings suggest that trust of a calculative nature, and that based on familiarity and/or identification, develop earlier and stabilize later in the relationship, whereas dispositional trust and trust in the system remain constant during the entire relationship. But the aptitude of the explanation shown by the models was relatively small, suggesting that, even though the results confirmed the hypothesis, some doubts remain about how trust is developed. Regarding the relative importance of the type of trust, we were expecting that calculated trust would be high in the beginning, and that identification-based trust would be high in mature relationships, and this was not the case. Calculated trust was the lowest of the 3 types during the entire length of the relationship, followed by identity-based trust, and we found just as much familiarity-based trust in the beginning of the relationship as at the end. / A confiança tem se mostrado muito importante nas relações entre os canais de negócios business-to-business. Quando presente, a confiança favorece relacionamentos de longo prazo, reduz riscos e encoraja maiores investimentos entre as partes. A confiança é um conceito extremamente complexo e muda de faceta de acordo com a evolução do relacionamento. Entender a complexidade deste conceito bem como a forma como ela se desenvolve é de fundamental importância para a definição das estratégias de marketing a serem adotadas para cada segmento de clientes. Esta dissertação buscou identificar como se desenvolve a confiança em relacionamentos entre organizações, verificando a evolução dos diferentes tipos de confiança que uma organização desenvolve em relação ao seu fornecedor e à intensidade do relacionamento. Para atingir tal objetivo procedeu-se um levantamento entre os clientes de uma distribuidora de produtos de informática para se testar as hipóteses do estudo que apontavam que alguns tipos de confiança evoluem de acordo com o desenvolvimento do relacionamento entre a distribuidora e os seus clientes,enquanto outros tipos de confiança permanecem constantes durante todo o período de relacionamento. Os resultados encontrados sugererem que as confianças do tipo calculativa, confiança baseada no conhecimento e confiança baseada na identificação desenvolvem-se mais no começo e estabilizam-se mais adiante no relacionamento, enquanto que as confianças do tipo disposicional e confiança no sistema permanecem constantes durante todo o tempo de relacionamento. Mas a capacidade de explicação dos modelos foi relativamente pequena sugerindo que, apesar dos resultados confirmarem a hipótese, algumas dúvidas ainda permanecem sobre como se dá a evolução da confiança. Quanto à importância relativa dos diferentes tipos de confiança, embora fosse esperado que a confiança calculativa possuísse um nível maior no começo e que a confiança de identificação fosse maior para os relacionamentos maduros, este não foi o padrão de resultados encontrado. A confiança calculativa foi a menor das três confianças durante todo o tempo de relacionamento, seguida pela confiança baseada na identificação. Por outro lado, tanto no começo quanto no final do relacionamento, identificou-se uma proporção maior de confiança baseada no conhecimento.
46

An empirical study of the development of factory shops in the clothing industry in the Cape Peninsula

January 1991 (has links)
Magister Commercii - MCom / Since the beginning of the nineteen-eighties factory shops in the clothing industry in the Cape Peninsula have had an increasing influence on the retail trade. Originally factory shops were mainly used by factories to sell damaged goods at the end of the season. On account of the (particularly) short product life cycle of their merchandise, clothing factories started to use factory shops more and more to sell quality clothes (e.g. overproduction, canceled orders, etc.) of a current season directly to the consumer. This approach brought about conflicts in the distribution channel as the traditional responsibilities and values of each channel member were rearranged. The clothing industry in South Africa in general, and in the Cape Peninsula, in particular, is controlled by 6 retailers. The forward integration by clothing factories (i.e. through establishing their factory outlets), inter alia, challenging the status quo as the leadership of the distribution channel had been questioned. Based on certain theories on distribution channel development and distribution channel entry, this study concentrated on determining the scope of factory shops, as well as on "establishing reasons for their development. Although environmental variables (e.g. inflation, backward vertical integration by retailers, economic conditions, etc.) have had a significant impact on the establishment of factory shops, clothing factories also realized the existence of excellent opportunities for profit maximization under adverse economic conditions. Primarily, it was the small who rose against factory threatened; in addition, independent clothing retailers shops as their existence was the leading position of large retailers came under threat. Several theories on the evolution of distribution channels make provision for the entry of factory shops. Factory shops entered the distribution channel with a strong emphasis on price strategy and little (or sometimes even no) emphasis on the non-price marketing instruments. However" with time factory shops increasingly incorporated non-price marketing instruments (e.g. promotion, distribution, and product). As a result of their incorporating additional services, factory shops were upgraded and may therefore face new competitors in the future. The South African experience of the influence and permanency of factory shops is too short to present any clear guidelines. However, if the development of factory shops in the retail structure of the United States of America is any indicator, factory shops will be a permanent add it ion to the distribution channel. Factory shops in the U. S.A. are not confined to the clothing industry but have expanded to include every imaginable consumer article. Retailers who originally pressurized clothing factories to close their factory outlets (selling quality and in-season merchandise) with have to accept and adapt to this interchange in the type of competition. Failing this, the independent retailer may disappear. Since the development of the hypermarket concept in the seventies, developments in the distribution channel in retailing stagnated. The consumer, therefore, was susceptible to the change that the entry of factory shops has brought about in the distribution channel of the clothing industry in the Cape Peninsula.
47

Optimalizace prodeje jízdních dokladů v železniční stanici Praha hlavní nádraží / Travel ticket sales optimization at Prague Main Railway Station

Kuběnová, Eva January 2010 (has links)
This Master's Thesis concerns the travel ticket sales at Prague Main Railway Station. Based on a detailed analysis of provided data, its aim is to put forward suggestions on how to optimize travel ticket sales. Through evaluating the volume of travel tickets sold within the given time period and the number of open cash-desks, along with a cost analysis of sales channels, this thesis reaches its final conclusions. Microsoft Excel was the main analysis tool for compiling graphs. A sound knowledge of the current legislation which is stated in the theoretical part is necessary to help draw the right conclusions. This Master's Thesis, then, chiefly proposes informed suggestions on current sale process optimization in the ČD Center of Prague Main Railway Station.
48

Determinantes e dinâmica do uso de formas plurais em redes de franquias / Determinants and dynamics of the use of plural forms in franchise networks

Vance, Patricia de Salles 03 May 2010 (has links)
O setor de franquias representa uma oportunidade rara para a investigação do uso de formas plurais, visto que as empresas franqueadoras, em geral, adotam simultaneamente dois tipos de arranjos contratuais (unidades próprias e franqueadas). Para a investigação da criação e da evolução de sistemas de franquias, duas teorias destacam-se nos estudos empíricos publicados sobre o mercado norte-americano: teorias de Agente-Principal e de Escassez de Recursos. Assim, o presente estudo teve dois objetivos principais: primeiro, investigar a aplicabilidade dessas duas teorias para explicar a adoção e a evolução do sistema de franquias, no Brasil, considerando o período de 2000 a 2009; segundo, analisar a existência de estabilidade no uso de formas plurais por redes de franquias, ao longo dos anos. Diferenciando-se de outros estudos, foi empregada a técnica de análise de regressão múltipla de dados em painel, bem como foram realizadas estimativas com cinco diferentes formas funcionais (linear, lin-log, log-lin, log-linear e recíproco). Os resultados apurados para as três bases de dados definidas para este estudo não corroboram os argumentos da Teoria de Escassez de Recursos, porém são consistentes com as hipóteses baseadas na Teoria de Agente-Principal. Para as cinco dimensões testadas (esforço do franqueador, risco para o franqueado, custos de monitoramento, esforço do franqueado, risco de free-riding), relacionadas a essa segunda teoria, foram encontradas evidências que suportam as três primeiras, consistentes com estudos anteriores. Com relação às duas últimas dimensões, as proxies adotadas não apresentaram coeficiente significativo. Por fim, a análise da estabilidade do uso de formas plurais também revelou consistência entre os resultados apurados para empresas que atuam no Brasil e no mercado norteamericano. Os resultados indicam que, após alguns anos de adoção da franquia empresarial, as empresas tendem a realizar poucas modificações na proporção de unidades próprias (mix contratual). Verifica-se que a proporção de unidades próprias tende a cair rapidamente nos primeiros anos de adoção da franquia empresarial, estabilizando-se próximo a 20% do total da rede. Após cerca de dezesseis anos de operação com o sistema de franquias, as empresas tendem a ajustar o percentual de unidades próprias elevando-o ligeiramente. Depois, segue-se um novo período de estabilidade do mix contratual. / The franchise sector represents a rare opportunity for the investigation of the use of plural forms, as franchisors generally adopt simultaneously two types of contractual arrangements (company owned and franchised units). To investigate the creation and the development of franchise systems, two theories are frequently applied in empirical studies on the U.S. market: Principal-Agent Theory and Resource Scarcity Theory. The present investigation had two main objectives: first, to examine the applicability of these two theories to explain the adoption and the evolution of the franchise system in Brazil in the period from 2000 to 2009; and second, to analyze the existence of stability in the use of plural forms by franchise networks over the years. Differing from other studies previously published in Brazil, this investigation employed the panel data multiple regression technique, and estimates were made with five different functional forms (linear, lin-log, log-lin, log-linear and reciprocal). The results obtained for three databases defined for this study do not corroborate the arguments of the Resource Scarcity Theory, but are consistent with the hypotheses based on the Principal-Agent Theory. For the five dimensions tested in connection with this second theory (the franchisors effort, the risk to the franchisee, the cost of monitoring, the franchisees effort, the risk of free-riding) there was evidence supporting the first three, which is consistent with previous studies. Regarding the latter two dimensions, the proxies adopted did not show a significant coefficient. Finally, the analysis of the stability of the use of plural forms also revealed consistency between the results calculated for companies operating in Brazil, and those operating in the U.S. market. The results indicate that a few years after the adoption of franchising, companies tend to make few changes in the proportion of company owned units (contractual mix). The proportion of company owned units tends to fall rapidly in the early years of adoption of the franchising, stabilizing around 20% of the total network. After about sixteen years of operation with the franchise system, companies tend to adjust the percentage of company owned units, raising it slightly. Then follows a new period of stability of the contractual mix.
49

Fatores que influenciaram a intensidade da distribuição na maior fabricante de calçados injetados do mundo: um estudo de caso da Grendene S.A

Silva, Alexsander Canaparro da 29 June 2012 (has links)
Submitted by Maicon Juliano Schmidt (maicons) on 2015-07-07T14:49:40Z No. of bitstreams: 1 Alexsander Canaparro da Silva.pdf: 655420 bytes, checksum: 0a4a34fe1ed98642d0c0e012c1799fcd (MD5) / Made available in DSpace on 2015-07-07T14:49:40Z (GMT). No. of bitstreams: 1 Alexsander Canaparro da Silva.pdf: 655420 bytes, checksum: 0a4a34fe1ed98642d0c0e012c1799fcd (MD5) Previous issue date: 2012-01-31 / Nenhuma / A indústria brasileira de calçados é parte de um cenário onde a maioria das empresas pertencentes ainda tem suas estratégias fundamentadas na incerteza do sucesso de novos produtos, uma vez que está intimamente relacionada à moda implicando assim mudanças constantes nas coleções. Entretanto, observa-se que algumas empresas buscam desenvolver estratégias que visam uma maior perenidade e, ao mesmo tempo, impõem maior dificuldade em ser seguidas pelos concorrentes, por exemplo, as relacionadas aos canais de distribuição. A intensidade de distribuição é um elemento chave nas estratégias de canal, na medida em que determina como as empresas alcançam e servem seus mercados alvo. Diante disso, fundamentado nos modelos teóricos encontrados na literatura sobre canais de distribuição, busca-se investigar, através de estudo de caso na empresa Grendene S.A., Quais são os fatores que influenciaram a intensidade da distribuição. O estudo tem por objetivos específicos analisar o nível de diversificação dos canais de marketing, bem como as estratégias e fatores que impactaram na intensidade da distribuição; e analisar quais os tipos de conflito no canal e suas implicações. Para tanto, foi desenvolvida uma pesquisa exploratória, cuja coleta de dados primários ocorreu através de entrevistas semiestruturadas em profundidade e através de observação participante, como técnica auxiliar. Os resultados encontrados mostram que diferentes estratégias foram implementadas pela empresa com o intuito de intensificar a distribuição dos produtos por ela comercializados e destacam a forma como ocorre esse processo - na medida em que a empresa está presente em diversos canais, mas não necessariamente através da sua equipe de representantes. Em relação aos antecedentes da intensidade da distribuição, as análises apontam para seis elementos: concorrência, marca, produto, estrutura, cultura e porte da empresa. Por fim, foram identificados os conflitos existentes no canal de distribuição, bem como suas implicações. / The Brazilian shoes industry is part of a scenario where most of the companies from this industry still has its strategies based on the (uncertainty of) success of new products, since it is a sector closely related to fashion, implying on constant changes in collections. However, it seems that some companies try to develop strategies aiming to achieve greater continuity while imposing greater difficulty for being followed by competitors – such as those related to distribution channels. The distribution intensity is a key element in the channel strategies, since it determines the extent to which these companies reach and serve their target markets. Therefore, based on the theoretical models existing in literature on distribution channels, we seek to investigate – through a case study at Grendene SA – what are the factors that influenced the distribution intensity. The study aims to analyze the diversification levels of marketing channels, as well as the strategies and factors that have impacted on the intensity of distribution. Moreover, it analyses what kind of conflicts that are found in the channel, as well as its implications. To that end, an exploratory research was developed based on primary data collection through semi-structured in depth interviews and through a complementary round of participant observation. The results show that different strategies were implemented by the company in order to enhance its products distribution. It also highlights how this process takes place – to the extent that the company is present in several channels, but not necessarily through its own team of representatives. Regarding the factors that influenced the distribution intensity, the analysis points to six elements: competition, brand, product, structure, culture and company size. Finally, the channel conflicts were identified, as well as its implications.
50

"Marketing de créditos de carbono: um estudo exploratório" / Marketing of Carbon Credits: An Exploratory Research

Conejero, Marco Antonio 17 March 2006 (has links)
O Protocolo de Quioto foi ratificado em Fevereiro de 2005 e com isso um mercado que vinha caminhando sem regras formais, contando com o pioneirismo de algumas empresas interessadas em aprender a lidar com esta nova commodity e preocupadas com a sua imagem corporativa, passou de fato às vias da formalidade. Assim, uma vez que o mercado de Reduções Certificadas de Emissões (RCEs) possui um arcabouço institucional estabelecido, é interessante estudar com base na Economia dos Custos de Transação (ECT), como os custos de transação induziram modos alternativos de governança, em particular os contratos entre empresas proponentes de projetos de MDL (Mecanismo de Desenvolvimento Limpo) e os canais de comercialização constituídos por organizações multilaterais. E esse estudo, conforme as recomendações de Williamson (1993; 1991; 1985), foi feito analisando as características das transações em termos de especificidade de ativos, freqüência e incerteza, dados os pressupostos comportamentais dos agentes (racionalidade limitada e oportunismo). Para tanto, a pesquisa lançou mão do método do estudo de caso para obter informações privadas sobre as transações de RCEs, e seus respectivos contratos, entre as empresas brasileiras e uma organização multilateral, o Banco Mundial. Um resultado é que, diferente das relações via mercado, as empresas brasileiras se beneficiaram - em termos de redução dos custos de transação - da transação de RCEs (via contrato) com o Banco Mundial, já que este exerce todas as funções de um típico canal de distribuição, exceto a de aquisição dos direitos de propriedade sobre os créditos. / The Kyoto Protocol was approved in February 2005 and the carbon market that was without rules, played by some pioneer companies interested in learning by doing with this new commodity and worried about their corporate image, started working in the ways of the formality. As the market of Certified Emissions Reduction (CER) has already an established Institutional Environment, it’s interesting to study, based on the Transaction Costs Economics (TCE) theory, how the transaction costs induced alternative ways of governance, in particular the contracts between Brazilian companies – with CDM (Clean Development Mechanism) projects - and the commercialization channels in multi-lateral organizations. This study, as the recommendations of Williamson (1993; 1991; 1985), was made analyzing the characteristics of the transactions in terms of asset specificity, frequency and uncertainty, considering the human behavior assumptions (limited rationality and opportunism). For this, the research used the case studies method to obtain private information about the transactions of CER, and their contracts, between Brazilian companies and a multi-lateral organization, the World Bank. A result is that, differently of the spot market relationship, the Brazilian CDM projects benefited - in terms of reduction of transaction costs – with the CERs transactions (contracts) involving the World Bank, since this bank realizes every distribution channel functions, except the acquisition of CERs property rights.

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