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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Concept of Transaction Costs and Its Influence on the Development of Offshore Outsourcing
Author(s)
Elżbieta Marcinkowska
Full-Text PDF
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DOI:10.17265/1537-1514/2015.03.001
Affiliation(s)
Elżbieta Marcinkowska, Ph.D., assistant professor of management, Department of Economics, Finance and Environmental Management, Faculty of Management, AGH University of Science and Technology, Krakow, Poland.
ABSTRACT
The theory of transaction costs is one of the major and most important trends of new institutional economics. It is concerned with selecting the most effective method of regulating transactions. The analysis of transaction costs requires a new look at the concept of hierarchy and market in a company. Whether companies pursue actions inside a company or whether they transfer them to a specialised supplier is determined by a comparison of both solutions, including comparison of their transaction costs. Companies implement solutions which are characterised by lower transaction costs. The article presents the concept of transaction costs and its impact on the development of outsourcing, in particular, one of its varieties, offshore outsourcing.
KEYWORDS
outsourcing, offshore outsourcing, transaction costs, effectiveness, Poland
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