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dc.contributor.authorRUESTER, Sophia
dc.date.accessioned2010-03-18T12:03:32Z
dc.date.available2010-03-18T12:03:32Z
dc.date.issued2010
dc.identifier.issn1028-3625
dc.identifier.urihttp://hdl.handle.net/1814/13579
dc.description.abstractThis paper provides an empirical analysis examining the effect of both transaction characteristics and the institutional environment on governance choice. Using a dataset of 237 corporate-specific value chains in the global LNG industry, we introduce inter-organizational trust as a shift parameter. Following transaction cost economics, it is hypothesized that specific investments under uncertainty provide incentives to integrate vertically. Second, it is argued that inter-organizational trust changes the relative costs of vertical integration and non-integration and supports less hierarchical organizational structures. These economic relationships are tested based on probit and ordered probit models. Estimation results provide broad support for both propositionsen
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.relation.ispartofseriesEUI RSCASen
dc.relation.ispartofseries2010/18en
dc.relation.ispartofseriesLoyola de Palacio Programme on Energy Policyen
dc.relation.ispartofseries[Florence School of Regulation]en
dc.relation.ispartofseries[Energy]en
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectinter-organizational trusten
dc.subjectliquified natural gasen
dc.subjectshift parameteren
dc.subjecttransaction cost economicsen
dc.subjectvertical integrationen
dc.titleInter-Organizational Trust as a Shift Parameter in the Extended Transaction Cost Framework: A First Application to the LNG Industryen
dc.typeWorking Paperen
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