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| Author: | Dyer, J. H. Chu, W. |
| Title: | The Role of Trustworthiness in Reducing Transaction Costs and Improving Performance: Empirical Evidence from the United States, Japan, and Korea |
| Journal: | Organization Science
2003 : JAN-FEB, VOL. 14:1, p.57-68 |
| Index terms: | TRUST TRANSACTION COSTS INFORMATION PERFORMANCE MANAGEMENT JAPAN USA |
| Language: | eng |
| Abstract: | In this paper the authors investigate the relationship supplier trust in the buyer and transaction costs and information sharing in a sample of 344 supplier- automaker exchange relationships in the United States, Japan, and Korea. The findings indicate that perceived trustworthiness reduces transaction costs and is correlated with greater information sharing in supplier-buyer relationships. Moreover, the findings suggest that the value created for transactors, in terms of lower transaction costs, may be substantial. In particular, the authors found that the least-trusted automaker spent significantly more of its face-to-face interaction time with suppliers on contracting and haggling when compared to the most trusted automaker. |
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