Institutional Distance, Internal Governance and Transnational Operations of Chinese Firms: Perspective on Transaction Costs

摘要：

Institutional distance brings greater information asymmetry in transnational operations and generates more transaction costs in foreign subsidiaries. It makes costs or risks in transnational agency exceed the extent at home. From the perspective of transaction costs,the relations among institutional distance, transaction costs and corporate governance are analyzed. The article applies two major properties leading to transaction costs, i.e. uncertainty;asset specificity to research internal transaction characteristics and confirm corporate governance subjects in foreign subsidiaries of Chinese finns. The article puts forward the corresponding governance arrangements on boards, executives and local employees, discusses to reduce institutional risks and transaction costs by foreign adaption and common governance. It concludes with a proposition that corporate governance helps Chinese firms to reach global coordination and super internal efficiency in transnational operations.

关键词： Institutional Distance Transaction Cost Corporate Governance Transnational Operations

作者: FANG Gang ZHOU Jian LIU Xiaoyuan ZHANG Wenlong

作者单位: Business School, Nankai University, Tianjin, P.R.China, 30071

会议类型: 国际会议

会议名称: 2009年战略管理国际会议(2009 International Conference on Strategic Management)

会议地点: 成都

会议语种:英文

页码: 810-818

在线出版日期: 2009-06-25（万方平台首次上网日期，不代表论文的发表时间）