05558oam 2200721I 450 991078608280332120230803025052.01-283-94201-10-203-07776-81-135-13380-810.4324/9780203077764 (CKB)2670000000315481(EBL)1108537(OCoLC)823719077(SSID)ssj0000867126(PQKBManifestationID)11468182(PQKBTitleCode)TC0000867126(PQKBWorkID)10888900(PQKB)11171974(MiAaPQ)EBC1108537(Au-PeEL)EBL1108537(CaPaEBR)ebr10643519(CaONFJC)MIL425451(OCoLC)828735281(FINmELB)ELB132505(EXLCZ)99267000000031548120180706e20131990 uy 0engur|n|---|||||txtccrTransaction costs and trade between multinational corporations a study of offshore oil production /C. Paul HallwoodAbingdon, Oxon :Routledge,2013.1 online resource (225 p.)Routledge library editions : international business ;v. 18First published in 1990 by Unwin Hyman.1-138-00786-2 0-415-64326-0 Includes bibliographical references and index.TRANSACTION COSTS AND TRADE BETWEEN MULTINATIONAL CORPORATIONS A study of offshore oil production; Copyright; Transaction costs and trade between multinational corporations A study of offshore oilproduction; Copyright; Contents; List of Tables; List of Figures; Author's Preface; 1 Introduction; Transaction costs: a paradigm with two blades; Motivational and methodological context; Some basic concepts used in the transaction cost paradigm; Transaction costs and governance structures; The chapters; Notes; 2 Measurement costs, auctions and the process of price formationMeasurement costs and the transaction cost paradigmProduct idiosyncrasy and the cost of affixing prices; Optimum expenditure on measurement costs; Measurement error; Process of price formation; What the auction literature has to say about price formation; Price advantage and choice of auction; Price convergence and choice of auction; Conclusions; Notes; 3 Vertical disintegration; Subsectors of the offshore oil supply industry; Measurement of the degree of vertical integration; Examination of vertical disintegration in the oil industry; Are the offshore oil supply markets competitive?Locational factorsWide choice between rival suppliers; Switching costs; Standardization of inputs; Organization of technical change; Internal relocation costs; Continuity of market relationships; Conclusions; Notes; 4 The offshore oil supply industry; Important features of the internationalized offshore oil supply industry; Notes; 5 The multinational offshore oil supply industry: the theoretical aspect; Transaction cost theories of the multinational corporation; 'Dominant application' of the transaction cost paradigm to the multinational corporationInternationalization of production to improve market efficiencyFollow the customer in offshore oil gathering; Barriers to entry; Asset specificity; Asset specificity and market density; 'Asset specificity and geographic mobility; Notes; 6 The offshore oil supply industry in its main British service base; Some definitions; The data file; The predominance of affiliates: propositions 1 and 2; Subsectors of the offshore oil supply industry: propositions 3; Who got in when? proposition 4; Patent ownership: proposition 5; Research and development: proposition 6Aberdeen as a decision-making centre: proposition 7The Aberdeen affiliate within its ownership group: propositions 8; Conclusions; Notes; Appendix; 7 Legal and customary practices in the offshore oil supply industry markets; The pre-selection phase; Pre-qualification; The invitation phase; Replies by bidders; Contract award; Conclusions; Notes; 8 Bid-prices, rent distribution and adjustment in the long run; The assumptions; Supply firms; Finding the optimum bid; The buyers; Bid-prices; Quasi-rent; Adjustment of the supply industry in the long run; In the beginning. . .and in the end; Notes9 Measurement costs and optimization of the number of invited tender-biddersUntil this book was published little had appeared on the matter of the organization of production in oil gathering. This book:Describes the global offshore oil supply industry and its features on one of the world's major offshore oil services basesDraws on the theory of the multinational corporation to explain why buyers and sellers should have internationalized themselves into a symbiotic relationshipDiscusses the preference of the oil companies for vertical disintegrationExplains the transaction cost paradigm<Routledge Library Editions: International BusinessOffshore oil industryTransaction costsOffshore oil industry.Transaction costs.338.2/7282338.27282338.88Hallwood Paul.913294MiAaPQMiAaPQMiAaPQBOOK9910786082803321Transaction costs and trade between multinational corporations3721457UNINA