Transaction Costs and Outsourcing Decisions in Small- and Medium-Sized Family Firms
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An important difference between family and nonfamily firms, and among different types of family firms, is in the way they make outsourcing decisions and thereby define the boundaries of the firm. The authors propose that transaction costs arising from human asset specificity, threats of opportunism, and risk aversion will make small- and medium-sized family firms operating with technologies of low to medium complexity less likely to outsource than comparable nonfamily firms. The authors also argue that the limiting influence of transaction costs on the outsourcing decisions of family firms may be mitigated by variations in available suppliers, goals, and ownership structures.
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The choice of network partners may also be unique in family firm-led GVCs, since family firms display a strong preference toward partnerships with kin-controlled suppliers.
“The choice of network partners may also be unique in family firm-led GVCs, since family firms display a strong preference toward partnerships with ''kin-controlled'' suppliers (Memili, Chrisman, & Chua, 2011: 53).”
From Global value chains: A review of the multi-disciplinary literature (2020) · cites this paper as Memili, Chrisman, & Chua, 2011
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- Authors
- Memili, E., Chrisman, J. J., & Chua, J. H.
- Affiliations
- University of North Carolina at Greensboro (US)
- University of Alberta (CA)
- University of Calgary (CA)
- Corresponding author
- Memili, Esra
- Venue
- Family Business Review
- Publisher
- SAGE Publications
- Published
- 2011-03
- Volume
- 24
- Issue
- 1
- Pages
- 47-61
- ISSN
- 0894-4865 (ISSN-L)
- 1741-6248
- OpenAlex
- W2172166271
- Cited by
- 51
- References
- 111
- Citations by year
- 2026: 2 · 2025: 2 · 2024: 3 · 2023: 6 · 2022: 2 · 2021: 3 · 2020: 5 · 2019: 5 · 2018: 5 · 2017: 3 · 2016: 2 · 2015: 1 · 2014: 4 · 2013: 4 · 2012: 2
- FWCI
- 7.78
- Type
- journal article
- Language
- en
- Open access
- green
- libres.uncg.edu
- Locations
- Family Business Review (publishedVersion)
- NC Digital Online Collection of Knowledge and Scholarship (The University of North Carolina at Greensboro) (submittedVersion)
- Lancaster EPrints (Lancaster University) (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Management Information Systems › Outsourcing and Supply Chain Management
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Family Business Performance and Succession
- Social Sciences › Business, Management and Accounting › Management Information Systems › Accounting and Organizational Management
- Keywords
- transaction costs, outsourcing decision-making, family business, small and medium-sized enterprises, firm boundaries, opportunism, risk aversion, supplier availability, ownership structure, technological complexity
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