Since its introduction by Williamson (1975), transaction cost theory (TCT) has become one of the most influential theoretical perspectives used for explaining how economic activity is governed. TCT asserts that the nature of a transaction drives governance decisions such that asset specificity, uncertainty, and frequent transactions give rise to the threat of opportunism, which increases transaction costs, and leads firms towards more integration. Although three decades have passed since its introduction and over 100 empirical journal articles have been published, more recent theoretical developments as well as contradictory findings have called TCT's empirical validity into question. By aggregating findings via meta-analysis, I take a step toward resolving these contradictory findings. Specifically, I found minimal evidence supporting the relationships between asset specificity or frequency and governance choice, and no relationship between environmental or behavioral uncertainty and governance choice. Further, there was evidence supporting the notion that matching transactions to the appropriate degree of integration impacts firm performance. Thus, I conclude by suggesting that although TCT helps explain governance choice decisions, the inclusion of other theoretical perspectives is also needed to provide a more comprehensive understanding of how firms govern economic activity. / A Dissertation submitted to the Department of Management in partial fulfillment of the requirements for the degree of Doctor of Philosophy. / Summer Semester, 2005. / June 14, 2005. / Governance Choice, Transaction Costs, Asset Specificity, Uncertainty, Frequency, Williamson / Includes bibliographical references. / David J. Ketchen, Professor Co-Directing Dissertation; James G. Combs, Professor Co-Directing Dissertation; Larry C. Giunipero, Outside Committee Member; William Anthony, Committee Member.
| Identifer | oai:union.ndltd.org:fsu.edu/oai:fsu.digital.flvc.org:fsu_181215 |
| Contributors | Crook, Thomas Russell (authoraut), Ketchen, David J. (professor co-directing dissertation), Combs, James G. (professor co-directing dissertation), Giunipero, Larry C. (outside committee member), Anthony, William (committee member), Department of Management (degree granting department), Florida State University (degree granting institution) |
| Publisher | Florida State University, Florida State University |
| Source Sets | Florida State University |
| Language | English, English |
| Detected Language | English |
| Type | Text, text |
| Format | 1 online resource, computer, application/pdf |
| Rights | This Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s). The copyright in theses and dissertations completed at Florida State University is held by the students who author them. |
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