英文摘要 |
Using transaction cost theory and institution theory, this paper attempts to address two research questions: (1) how value co-production affects the choice of a firm’s governance mode, and (2) why firms in newly industrialized economies (NIEs) prefer to adopt network mode as they co-produce value with their clients. This research firstly defines the concept of ‘value co-production ratio’ and then uses it to illustrate the association between value creating and cost minimizing. Our results suggest that firms with higher value co-production ratios are inclining to adopt hierarchy mode while firms with lower value co-production ratios are inclining to adopt network mode. Moreover, based on institutional economics, this paper also examines the effect of institutional differences on the choice of governance modes in the context of value co-production, suggesting that, with the increasing of value co-production ratio, network mode is more preferable for firms in NIEs while hierarchy mode is more preferable for firms in the developed countries. |