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• W1569118090 abstract "This paper offers a theory to explain in the Chinese context how interfirm transactions can be effectively carried out in the absence of a sound contract enforcement system. Noting that the development of China's nonstate sector, the primary contributor to its rapid economic growth, has relied heavily on its transactional relationships with the state sector, we develop an agency theory of interfirm transactions based on the following idea: a state enterprise manager, being an agent, may acquire private benefits in exchange for not holding up a nonstate trading partner; and this, in turn, improves the latter's incentive for transaction-specific investments." @default.
• W1569118090 created "2016-06-24" @default.
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• W1569118090 date "2001-03-01" @default.
• W1569118090 modified "2023-09-30" @default.
• W1569118090 title "An agency theory of transactions without contract enforcement" @default.
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• W1569118090 doi "https://doi.org/10.1016/s1043-951x(01)00040-2" @default.
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