Transaction costs: an empirical analysis of their relationship with investment and foreign direct investment

Revista de Administração de Empresas

Marcos Vinício Wink Junior²  Hsia Hua Sheng¹  William Eid Junior¹ 

[1] ,Fundação de Economia e Estatística do Rio Grande do SulPorto Alegre RS ,Brazil

关键词: Transaction costs;    foreign direct investment;    investment rate;    BRICs;    business environment;    Custos de transação;    investimento direto estrangeiro;    taxa de investimento;    BRICs;    ambiente de negócios;    Costos de transacción;    inversión extranjera directa;    tasa de inversión;    BRICs;    entorno empresarial;   

DOI  :  10.1590/S0034-75902011000200005

来源: SciELO

【 摘 要 】

As stated by the New Institutional Economics theory, transaction costs play a relevant role in economics and, according to the extent of such costs, agents make investment decisions. Actually, transaction costs may represent a disincentive to entrepreneurship. This work aims to verify whether transaction costs are related to investment rate and foreign direct investment rate (FDI) in different business environments. The results suggest that foreign investors do not have precise information about other countries as domestic investors do; as it is observed, only the relation between transaction costs and investment rate is significant. Furthermore, there is evidence that the business environments of BRIC countries are less developed when compared to business environments of other countries in the study

【 授权许可】

CC BY   
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