Combining Commerce and Culture
2001-01-21
Research Paper
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It seldom happens that new firms, new industries, and new business systems need to be developed simultaneously. This, however, is the situation in transition economies such as China. Irrespective of product and technology used, incentives and governance structures need to be formulated that give business endeavours an organisational form. The survivability of firms depends further on the ability to start and maintain long-term business relations between contracting parties, while only a broad consensus within the community of entrepreneurs and firms on the procedures that co-ordinate business relations and sanctions transgression promises a decline in transaction costs sufficiently enough to trigger off the quick expansion of markets.
Keywords
Classifications using
Journal of Economic Literature (JEL) Classification System
- M : Business Administration and Business Economics; Marketing; Accounting
- L2 : Firm Objectives, Organization, and Behavior
- M10 : Business Administration: General
- P21 : Planning, Coordination, and Reform
Automatically Extracted Terms
- business
- institution
- chinese
- china
- business relations
- family
- relation
- market
- management
- partner
- resource
- entrepreneur
- business partners
- sector
- behaviour
- study
- network
- journal
- property rights
- system
