Topic
Opportunism
About: Opportunism is a research topic. Over the lifetime, 2030 publications have been published within this topic receiving 97170 citations. The topic is also known as: opportunist.
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TL;DR: In this paper, the authors examine the motivational determinants of interfirm alliance behavior through the sociocognitive principle of regulatory focus, with particular reference to the role of opportunism at the formation, operation, and outcome stages of alliance development.
104 citations
TL;DR: The authors argue that bounded rationality is a separate source of transaction costs and that these costs are not equally mitigated by all forms of hierarchy, allowing certain hierarchical forms to be associated with particular frames and social referents that naturally enhance specific bounded rationality based conflicts.
Abstract: We augment transaction cost economics’ bounded rationality assumption with heuristics (framing) and cognitive biases to expand the understanding of hierarchical governance in the theory. In transaction cost economics opportunism traditionally takes the front seat, while bounded rationality is primarily relegated to the support role of invoking incomplete contracts. The theory also suggests that hierarchical governance effectively mitigates opportunism-based transaction costs, making it difficult to explain why hierarchies are not always used. However, when an augmented bounded rationality assumption is incorporated into transaction cost economics, we argue, first, that bounded rationality is a separate source of transaction costs and, second, that these costs are not equally mitigated by all forms of hierarchy. Instead, different hierarchical forms are associated with particular frames and social referents that naturally enhance specific bounded rationality–based conflicts, allowing certain hierarchical f...
104 citations
TL;DR: In this paper, the authors make a useful distinction between the everyday personal relationships within a group-the activity of networking itself-and the "institutional arrangements" which are produced by this activity, including custom and contractual devices designed to discourage malfeasance.
Abstract: organization studies, and business history.2 Despite the scepticism of some-that networks are exceptional or transient phenomena, a sign of market failure in young economies-it is now widely argued that networks are an integral part of economic activity, which is moulded by social, cultural, and political influences as well as by market mechanisms.3 Some authors have made a useful distinction between the everyday personal relationships within a group-the activity of networking itself-and the 'institutional arrangements' which are produced by this activity, including custom and contractual devices designed to discourage malfeasance.4 Moral attitudes and value systems shared by members of a network, as well as rules and regulations, can reduce the risk, and therefore also the cost, of commercial transactions. Few economic actors rely solely on either institutional arrangements or a generalized morality to guard against the risk of opportunism, free riding, or cheating. Instead they prefer to deal with individuals of known repute and to base their decisions to trade on information about reputation from reliable sources, and on their own past dealings with the same individuals. However, the greater the level of trust, the greater the potential gain from malfeasance. Thus, institutional arrangements for contract enforcement are seldom dispensed with entirely.5 In general terms it can be said that business networking
102 citations
TL;DR: In this article, the authors investigate how well general theories of organization correspond to governance in offshoring relationships, and they find that trust and long-term orientation govern the offshored process or processes.
101 citations