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Transaction Costs and Exchange: Nine Case Studies of Australian and Malaysian Firms

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This study investigates the transaction costs of cross–cultural exchange, drawing on interviews with senior management of Australian and Malaysian firms. Parties to a transaction need to undertake a number of costly activities, including identifying an exchange partner, measuring the quantity/quality dimensions of the good or service exchanged, definition of the parties' rights and obligations in respect of whatever is exchanged and contract enforcement. This paper uses a contractual approach focusing on each of these issues to examine the various factors, particularly cultural differences, which add to the costs of international exchange for Australian and Malaysian firms.

JEL classification: F2; K0; Z1
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Keywords: Australia; Malaysia; cross cultural exchange; transaction costs

Document Type: Research Article

Affiliations: 1: Monash University, Malaysia, 2: Monash University, Australia

Publication date: December 1, 2001

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