Trust is a sine qua non for trade. According to transaction cost economics, a contract always offers some opportunity to defect. In the case of asymmetric product information, where the seller is better informed about product quality than the buyer is, the buyer either has to rely on information provided by the seller or has to check the information by testing the product or tracing the supply ...

The aim of this study is to investigate the effects of outside board on rm value in Tehran Stock Exchange (TSE) from the perspective of information transaction costs. To do so, a sample of 96 firms listed in TSE is selected to be studied during the period of 2003-2012. Tobin q ratio is used to measure rm's value and bid-ask spread for information transaction costs. In addition to these variable...

Organizations find it imperative to implement measures geared towards protecting the information assets. The research problem is to identify information systems security requirements for various organizational forms. Management theorists have argued that organizations represent stable patterns of transactions between individuals. In the realm of transaction cost economics, the flow of informati...

According to transaction cost economics, contracts are always incomplete and offer opportunities to defect. Some level of trust is a sine qua non for trade. If the seller is better informed about product quality than the buyer, the buyer has to rely on information the seller provides or has to check the information by testing the product or tracing the supply chain processes, thus incurring ext...

This dissertation consists of three chapters on financial market imperfections, in particular, information imperfections. Chapter 1 studies how the existence of a fixed cost per transaction faced by uninformed investors hampers information revelation through price and exacerbates adverse selection. The exacerbated adverse selection explains one long-standing puzzle in finance the momentum anoma...

Adaptations in environmental management often involve complex problems of collective action. Institutions introduced to reduce the transaction costs of solving these problems often come at considerable cost. An Institutional Cost Effectiveness Analysis Framework (ICEAF) developed to provide a comprehensive and logical structure for economic evaluation of path dependent institutional choices in ...