From Transaction Cost to Transactional Value Analysis: Implications for the Study of Interorganizational Strategies*

Abstract

This article examines interorganizational strategies from a transactional value, rather than transaction cost, perspective. It argues that the transaction cost perspective has at least two major limitations when used to analyse interorganizational strategies: ( 1) a single-party, cost minimization emphasis that neglects the interdependence between exchange partners in the pursuit of joint value, and (2) an over-emphasis on the structural features of interorganizational exchange that neglects important process issues. We propose instead a transactional value framework for analysing interorganizational strategies that addresses (1) joint value maximization, and (2) the processes by which exchange partners create and claim value. We discusses the implications of the present approach for the study of interorganizational strategies and for the transaction cost perspective itself.

Predictors of the International HIV-AIDS INGO Network Over Time

“…Both population ecology theory and alliance formation models pose that alliance partners engage in an initial exploration phase, characterized by information seeking (Aldrich, 1999;Banassi, 1993;Kanter, 1994;Ring & Van de Ven, 1994;Zajac & Olsen, 1993). Jaffe, Thajtenberg and Henderson (1993) and Rosenkopf and Almeida (2003) demonstrated that organizational knowledge fl ows tend to be localized because searching local information may be less costly than searching more globally.…”

“…Interorganizational communication research examines the formal and informal communication structures that emerge and dissolve among organizations (Monge et al, 1998;Stohl, 1993). This research draws benefi cially on the substantial body of research on alliances and alliance networks in the organization theory literature (see Adams, 1980;Ahuja, 2000;Dyer, 1997;Eisenhardt & Schoonhoven, 1996;Gerlach, 1992;Gulati, 1995aGulati, , 1998Khanna, Gulati, & Nohria, 1998;Koza & Lewin, 1998;Monge et al, 1998;Williamson, 1975;Zajac & Olsen, 1993). In this tradition, transaction cost-economics and the resource-based view of the fi rm have been employed most frequently as explanatory theories, positing that fi rms pursue collaborative arrangements to gain easier and more effi cient access to scarce resources and to build countervailing power.…”

Old technology meets new technology: complementarities, similarities, and alliance formation

“…A more thorough examination of the organizational and structural processes that bring firms more closely together and encourage alliance formation is also required. Further study of the question of how similarities and differences between firms impact the formation of partnerships can provide important insights into alliances as creators of economic value and relational rents (Zajac and Olsen, 1993;Dyer and Singh, 1998), and in particular how leveraging complementarities and similarities can influence alliance performance. The results of our study support the perspective that future research on alliance formation needs to take into account how dyadic-level constructs interact with firmlevel variables, and thus to explicitly consider a multilevel dimension.…”

Imersão Social Na Cadeia De Suprimentos E Seu Efeito Paradoxal No Desempenho Operacional

“…A visão relacional da estratégia mostrou-se como a corrente teórica que desenvolveu, de maneira mais aprofundada, a ideia de que os relacionamentos desenvolvidos pela organização podem configurar-se como importante fonte de vantagem competitiva. Seu desenvolvimento teórico é uma extensão da Resource-based View (RBV) e tem raízes em Zajac e Olsen (1993), que propuseram o conceito de valor de transação como ponto de vista alternativo aos custos de transação. Nesse sentido, a definição das estratégias interfirmas deveria considerar os benefícios mútuos entre os parceiros, de modo a retirar o foco exclusivo da análise em cima dos custos de transação para, assim, ampliar o foco do embasamento da decisão para o valor total gerado pela parceria.…”

“…Em termos de base teórica, essa discussão migrou da simples abordagem do custo da transação (Williamson, 1975) para o valor da transação (Zajac & Olsen, 1993 (Crook & Combs, 2007). Embora ainda seja possível observar ganhos operacionais pela imersão estrutural dos laços com clientes (i.e., concentração das vendas), a partir da especialização das rotinas e adequabilidade da oferta, esses ganhos serão maiores na presença da imersão relacional.…”