Analysis of the Transaction Cost in Modern Conditions

Е А Гурьянова ,Igor N Gurianov,Svetlana Mechtcheriakova

doi:10.5539/ass.v10n20p67

Abstract

The activities of any organization linked to transaction costs, which are often of great size. If the organization will be able to lower transaction costs while maintaining performance, this can result in more effective organizational management structure and activities of the organization as a whole. Transaction costs arise because of different interests of the communicating parties, but also because of the uncertainty factor. Because transaction costs was escorted somehow all the functioning of the organization, you must implement their accounting and analysis. This will help to understand the causes of transaction costs and reduce them. But when ones transaction costs are decrease another transaction costs can increase. In order to reduce transaction costs, the need to consider options for the management structure, which would enable the organization to achieve their goals? The various organizational structures of governance have a different structure of transaction costs and a different size of transaction costs. Not to use the methodology transaction cost analysis can lead to unreasonable use of the resources of the organization. Analysis of the transaction cost is not possible without clear classification. In this article, this classification is presented. Transaction costs can be considered as the cost of the resources spent on the transaction. This allows you to calculate the size of transaction costs in the size in a cost equivalent. By use of the methodology which was proposed in this article, were examined the organizations that are located in Russian Federation and works in the petrochemical industry.

Highlights

In an unstable world economy, the economic agents often have unpredictable situations and problems that require quick responses, often leading to a loss
In order to reduce transaction costs, the need to consider options for the management structure, which would enable the organization to achieve their goals? The various organizational structures of governance have a different structure of transaction costs and a different size of transaction costs
Any organizational changes have led to increased transaction costs due to the need to adapt the organization to the new conditions

Summary

Introduction

In an unstable world economy, the economic agents often have unpredictable situations and problems that require quick responses, often leading to a loss. This means increased transaction costs at all levels of the economy: macroeconomic and microeconomic. In an unstable world economy, to improve the effectiveness of the organization, management must make it our task to define the structure, dynamics and the sources of growth in transaction costs. Methodically grounded approach to the analysis of transaction costs will allow to maintain, improve and use with maximum efficiency resource potential of the organization, and the global economy as a whole

Methods

Results

Discussion

Conclusion