Download or read book Relational Contracts and Development written by Rocco Macchiavello and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article reviews an emerging body of evidence on relational contracts, defined as informal arrangements sustained by the value of future interactions. We focus on developing and international markets, which are often characterized as contexts with weak formal contract enforcement. We introduce relational contracting between firms as a governance form alternative to both firms and markets. We then review evidence on the prevalence of long-term relationships between firms and discuss why this governance form might be particularly common in developing countries. After introducing a simple framework, we discuss the measurement of relational contracting between firms. We review an approach that takes dynamic incentive compatibility constraints to the data to quantify the value of future interactions and illustrate how different types of shocks can be used to uncover the inner functioning of relational contracting. We also review structural models and conclude with policy implications and promising avenues for future research.
Download or read book Contracting in the New Economy written by David Frydlinger and published by Palgrave Macmillan. This book was released on 2021-05-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s business environment is constantly evolving, filled with volatility, uncertainty, complexity and ambiguity and driven by digital transformation, globalization, and the need to creating value through innovation. These shifts demand that organizations view contracting through a different lens. Since it is impossible to predict every what-if scenario in a transactional contract, organizations in strategic and complex partnerships must shift to a mindset of shared goals and objectives built upon a strong foundation of transparency and trust, working together to mitigate risk much better than merely shifting risk to the weaker party. Contracting in the New Economy helps you to not only develop this mindset – but also offers the practical tools needed to embrace the social side of contracting, enabling your organization to harness the value creating potential of formal relational contracts. Briefly sharing the theoretical foundations that prove relational contracting works, it goes well beyond theory by providing powerful examples of relational contracting principles in practice. In addition, the authors provide a practical and proven approach for helping you to put relational contracting theory into practice for your own relationships. First by providing a framework for approaching any contracting situation and helping organizations finding the best contract model for each situation. And then by sharing five proven steps you can take to create an effective relational contract for you own strategic and complex business relationships. For anyone involved in developing contracts —lawyers, in-house counsels, contract managers, C-level managers, procurement officers, and so on — this book will empower you to create powerful cooperative alliances that will help you reach —and surpass — your business goals in today’s dynamic new environment.
Download or read book Transnational Business and Relational Contracting 2 0 written by Thomas Dietz and published by . This book was released on 2015 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: First, this article proposes that the rise of the Internet and further information and communication technologies (ICT) has facilitated the evolution of a new, virtual form of relational contracts. This hypothesis is developed inductively by drawing on the results of an explorative empirical study about cross-border software development contracts. Although virtual social ties and networks do not promote the type of high-trust relations that are central to traditional relational contract theory, they reduce information asymmetries between transaction partners and facilitate the evolution of almost unrestricted virtual reputational networks. Relational contracts 2.0 emerge on the basis of ICT enabled transparency, controls and sanctioning tools. Second, the article discusses these results in the light of the wider theoretical debate about the institutional foundations of modern markets. Most importantly, it will be argued that modern ICT has significantly improved the economic performance of relational contracts. Relational contracts 2.0 are no longer restricted to small communities and long-term relationships, but are also able to allow exchange between unknown actors within competitive markets. Relational contracts 2.0 therefore do not oppose market expansions, but become mechanisms that actively promote such economic modernisation processes. The virtual society promotes the evolution of virtual relational contracts.
Download or read book Contracting for Better Places written by Menno van der Veen and published by IOS Press. This book was released on 2009 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large-scale urban development projects aim to create better places in underused or deteriorated areas. For their realization, cooperation between planning authorities and market parties is indispensable. Contracting for Better Places focuses on the development agreements that these parties close. It follows from the relational contract theory that, as the projects evolve over time, these agreements have to promote relational values such as trust and flexibility. This work displays four interesting cases: Battery Park City and Hudson Yards (both in New York City), Zuidas (Amsterdam) and King's Cross (London). The content, meaning and function of real-life development agreements of these focal projects are studied and criticized. The conclusions have a case-specific as well as a more general character.
Download or read book Relational Contracting for Construction Excellence written by Albert P Chan and published by Routledge. This book was released on 2009-09-23 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Improved efficiency and effectiveness in the construction industry provide huge potential savings. Various forms of relational contracting such as partnering, alliancing, public private partnership (PPP), and joint venture are good examples of this. Relational Contracting for Construction Excellence presents the principles of relational contracting, practicalities and a series of short case studies. Principles begins with the fundamentals then covers development in major countries, definitions of relational contracting, their benefits, difficulties, critical success factors and key performance indicators. Practice includes the relational contracting approach and process in general, and significant factors which make workshops successful, at whatever stage of the process. A number of real-life case studies from the UK, USA, Australia, and Hong Kong are provided. Since the book draws on a combination of practical consultancy works and university research, a wide range of readers will find it useful, i.e. from industrial practitioners to undergraduate students.
Download or read book The Vested Way written by Kate Vitasek and published by Macmillan. This book was released on 2012-04-06 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: We live in a world where we constantly ask “what’s in it for me?” But that is not the path to success. Partnership and collaboration is where innovation meets business success. In this single, authors Kate Vitasek and Karl Manrodt reveal how theory in collaboration and partnerships meet in practice. They share how successful relationships have taken Nobel Prize winning academic concepts and applied them in real life situations to achieve extraordinary results. And most importantly The Vested Way provide insights into how you can take theory and actual cases and apply them to your own relationships to help you achieve results you are hoping for.
Download or read book The Role of Relational Contracts in the Economic Development of Czechoslovakia written by Craig M. Gertz and published by . This book was released on 1991 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Relational Theory of Contract written by Ian R. MacNeil and published by . This book was released on 2001 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Relational Contracting for Construction Excellence written by Albert P Chan and published by Routledge. This book was released on 2009-09-23 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Improved efficiency and effectiveness in the construction industry provide huge potential savings. Various forms of relational contracting such as partnering, alliancing, public private partnership (PPP), and joint venture are good examples of this. Relational Contracting for Construction Excellence presents the principles of relational contracting, practicalities and a series of short case studies. Principles begins with the fundamentals then covers development in major countries, definitions of relational contracting, their benefits, difficulties, critical success factors and key performance indicators. Practice includes the relational contracting approach and process in general, and significant factors which make workshops successful, at whatever stage of the process. A number of real-life case studies from the UK, USA, Australia, and Hong Kong are provided. Since the book draws on a combination of practical consultancy works and university research, a wide range of readers will find it useful, i.e. from industrial practitioners to undergraduate students.
Download or read book Relational Contracts written by Rocco Macchiavello and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relational contracts -- informal self-enforcing agreements sustained by repeated interactions -- are ubiquitous both within and across organizational boundaries. This review highlights recent empirical contributions in selected areas. We begin by reviewing some recent work that explicitly takes the dynamic incentive compatibility constraints that underpin relational contract models to the data. We then discuss the relationship between relational contracting and firms' performance. We conclude pointing in directions that we consider to be particularly ripe for future work.
Download or read book Contractual Renegotiations and International Investment Arbitration written by Aikaterini Florou and published by BRILL. This book was released on 2020-03-02 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Contractual Renegotiations and International Investment Arbitration, Aikaterini Florou explores the complex phenomenon of the renegotiation of investor-state contracts. The author reconstructs the relationship between those contracts and the overarching investment treaties using an original interpretative methodology based on transaction cost economics and relational contract theory.
Download or read book Contract in Commercial Law written by Simone Degeling and published by . This book was released on 2016-12-14 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contract in Commercial Law is a collection of essays based on the papers presented at the Contracts in Commercial Law Conference 2015. This work brings together the views of leading commentators in the area - Judges, Academics and Legal Practitioners- in this key area of the law. This publication is the fourth title in the prestigious "Commercial Law Library" series, accompanying Equity in Commercial Law, Unjust Enrichment in Commercial Law and Torts in Commercial Law. Together these works comprise an unparalleled collection of essays examining deeper controversies and issues of principle in commercial law. Contract in Commercial Law guides practitioners through a complex, difficult and controversial area of the law, offering a unique resource illuminating the many particular and difficult issues of contract law.
Download or read book The Organizational Contract written by Professor Fabrizio Cafaggi and published by Ashgate Publishing, Ltd.. This book was released on 2013-12-28 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces and develops the paradigm of the organisational contract in European contract law. Suggesting that a more radical distinction should be made between contracts which regulate single or spot exchanges and contracts that organize complex economic activities without creating a new legal entity, the book argues that this distinction goes beyond that between spot and relational contracts because it focuses on the organizational dimension of contracting and its governance features. Divided into six parts, the volume brings together a group of internationally renowned experts to examine the structure of long-term contractual cooperation; networks of contracts; knowledge exchange in long-term contractual cooperation; remedies and specific governance rules in long-term relationships; and the move towards legislation. The book will be of value to academics and researchers in the areas of private law, economic theory and sociology of law, and organizational theory. It will also be a useful resource for practitioners working in international contract law and international business transaction law.
Download or read book Contract Law and Contract Practice written by Catherine E Mitchell and published by A&C Black. This book was released on 2014-07-18 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: An oft-repeated assertion within contract law scholarship and cases is that a good contract law (or a good commercial contract law) will meet the needs and expectations of commercial contractors. Despite the prevalence of this statement, relatively little attention has been paid to why this should be the aim of contract law, how these 'commercial expectations' are identified and given substance, and what precise legal techniques might be adopted by courts to support the practices and expectations of business people. This book explores these neglected issues within contract law. It examines the idea of commercial expectation, identifying what expectations commercial contractors may have about the law and their business relationships (using empirical studies of contracting behaviour), and assesses the extent to which current contract law reflects these expectations. It considers whether supporting commercial expectations is a justifiable aim of the law according to three well-established theoretical approaches to contractual obligations: rights-based explanations, efficiency-based (or economic) explanations and the relational contract critique of the classical law. It explores the specific challenges presented to contract law by modern commercial relationships and the ways in which the general rules of contract law could be designed and applied in order to meet these challenges. Ultimately the book seeks to move contract law beyond a simple dichotomy between contextualist and formalist legal reasoning, to a more nuanced and responsive legal approach to the regulation of commercial agreements.
Download or read book Reconciliating Relational Contracting and Hold up written by Susanne Goldlücke and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a unified framework to study relational contracting and hold-up problems in infinite horizon stochastic games with monetary transfers. Starting from the observation that the common formulation of relational contracts as Pareto-optimal public perfect equilibria is in stark contrast to fundamental assumptions of hold-up models, we develop a model in which relational contracts are repeatedly negotiated in a relationship. New negotiations take place with positive probability each period and treat previous informal agreements as bygones. The concept nests relational contracting and hold-up models as opposite corner cases. Allowing for intermediate cases sheds light on many plausible trade-offs that do not arise in these corner cases.
Download or read book Psychological Contracts in Organizations written by Denise Rousseau and published by SAGE. This book was released on 1995-05-18 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing together a wide range of theory from social and cognitive psychology, organizational behaviour, organizational learning and the management of change, this text draws useful conclusions about important psychological processes.
Download or read book The Relational View of Economics written by Lucio Biggiero and published by Springer Nature. This book was released on 2022-02-02 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contributes to the development of a relational view of economics. Bringing together experts from various disciplines, it offers an interdisciplinary perspective on the study of relational transactions. In contrast to discrete market transactions as a traditional subject of economic discourse, the book analyses the role of relational transactions in the study of economic phenomena. The contributing authors address topics such as global intra- and inter-company networks, intersectoral stakeholder management, relational contracts, and transcultural management approaches. Accordingly, the book makes an important contribution to an emerging field of research.
