LEADER 05558oam 2200721I 450 001 9910786082803321 005 20230803025052.0 010 $a1-283-94201-1 010 $a0-203-07776-8 010 $a1-135-13380-8 024 7 $a10.4324/9780203077764 035 $a(CKB)2670000000315481 035 $a(EBL)1108537 035 $a(OCoLC)823719077 035 $a(SSID)ssj0000867126 035 $a(PQKBManifestationID)11468182 035 $a(PQKBTitleCode)TC0000867126 035 $a(PQKBWorkID)10888900 035 $a(PQKB)11171974 035 $a(MiAaPQ)EBC1108537 035 $a(Au-PeEL)EBL1108537 035 $a(CaPaEBR)ebr10643519 035 $a(CaONFJC)MIL425451 035 $a(OCoLC)828735281 035 $a(FINmELB)ELB132505 035 $a(EXLCZ)992670000000315481 100 $a20180706e20131990 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aTransaction costs and trade between multinational corporations $ea study of offshore oil production /$fC. Paul Hallwood 210 1$aAbingdon, Oxon :$cRoutledge,$d2013. 215 $a1 online resource (225 p.) 225 0 $aRoutledge library editions : international business ;$vv. 18 300 $aFirst published in 1990 by Unwin Hyman. 311 $a1-138-00786-2 311 $a0-415-64326-0 320 $aIncludes bibliographical references and index. 327 $aTRANSACTION 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 formation 327 $aMeasurement 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? 327 $aLocational 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 corporation 327 $aInternationalization 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 6 327 $aAberdeen 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; Notes 327 $a9 Measurement costs and optimization of the number of invited tender-bidders 330 $aUntil this book was published little had appeared on the matter of the organization of production in oil gathering. This book:Describes the global offshore oil supply industry and its features on one of the world's major offshore oil services basesDraws on the theory of the multinational corporation to explain why buyers and sellers should have internationalized themselves into a symbiotic relationshipDiscusses the preference of the oil companies for vertical disintegrationExplains the transaction cost paradigm< 410 0$aRoutledge Library Editions: International Business 606 $aOffshore oil industry 606 $aTransaction costs 615 0$aOffshore oil industry. 615 0$aTransaction costs. 676 $a338.2/7282 676 $a338.27282 676 $a338.88 700 $aHallwood$b Paul.$0913294 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910786082803321 996 $aTransaction costs and trade between multinational corporations$93721457 997 $aUNINA