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The governance of external research: empirical test of some transaction‐cost related factors
Author(s) -
Croisier Bernard
Publication year - 1998
Publication title -
randd management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.253
H-Index - 102
eISSN - 1467-9310
pISSN - 0033-6807
DOI - 10.1111/1467-9310.00105
Subject(s) - transaction cost , corporate governance , hierarchy , scope (computer science) , business , database transaction , industrial organization , test (biology) , empirical research , duration (music) , process (computing) , economics , finance , computer science , statistics , mathematics , market economy , database , art , paleontology , literature , biology , programming language , operating system
In this article, we analyse the impact of some transaction‐cost related factors on the governance of external research. We study how transaction costs vary according to specific attributes of the R&D project, such as the stage in the R&D process, the number of partners implied, the number of technological fields covered, the geographical scope and the duration of the project. According to transaction cost theory, we hypothesize that the higher the transaction costs relative to market governance, the more it is likely that the governance structure will move towards hierarchy.