Journal
JOURNAL OF MANAGEMENT
Volume 30, Issue 4, Pages 471-485Publisher
ELSEVIER SCIENCE INC
DOI: 10.1016/j.jm.2004.02.002
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Because partners may behave opportunistically in alliances, contractual safeguards or trust between partners are necessary for successful outcomes. However, it remains controversial whether safeguards and trust substitute or complement each other. Drawing on transaction cost theory, this study conceptualizes both contractual safeguards and trust as important control mechanisms in non-equity alliances, and develops a model that relates contractual safeguards and trust to cooperative outcomes. We test our hypotheses with data collected from 233 architect-contractor partnerships in Hong Kong. The results show that the relationship between contractual safeguards and cooperative outcomes depends on both the level and type of trust. (C) 2004 Elsevier Inc. All rights reserved.
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