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Managing Relational Contracts
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Book Synopsis Managing Relational Contracts by : Marta Troya-Martinez
Download or read book Managing Relational Contracts written by Marta Troya-Martinez and published by . This book was released on 2018 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relational contracts are typically modeled as being between a principal and an agent, such as a firm owner and a supplier. Yet in a variety of organizations relationships are overseen by an intermediary such as a manager. Such arrangements open the door for collusion between the manager and the agent. This paper develops a theory of such managed relational contracts. We show that managed relational contracts differ from principal-agent ones in important ways. First, kickbacks from the agent can help solve the manager's commitment problem. When commitment is difficult, this can result in higher agent effort than the principal could incentivize directly. Second, making relationships more valuable enables more collusion and hence can reduce effort. We also analyze the principal's delegation problem and show that she may or may not benefit from entrusting the relationship to a manager.
Book Synopsis Relational Supply Contracts by : Michaela Isabel Höhn
Download or read book Relational Supply Contracts written by Michaela Isabel Höhn and published by Springer Science & Business Media. This book was released on 2009-10-03 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply relations are often governed by so-called relational contracts. These are informal agreements sustained by the value of future cooperation. Although relational contracts persist in practice, research on these types of contract is only emerging in Operations and Supply Chain Management. This book studies a two-firm supply chain, where repeated transactions via well-established supply contracts and continued quality-improvement efforts are governed by a relational contract. We are able to characterize an optimal relational contract, i.e., to develop policies for supplier and buyer that structure investments in quality and flexibility in a way that no other self-enforcing contract generates higher expected joint surplus. A second goal is to compare the performance of different returns mechanisms in the context of relational contracting (quantity flexibility and buy-back contracts). Industry studies motivate the presented model.
Book Synopsis Contracting in the New Economy by : David Frydlinger
Download or read book Contracting in the New Economy written by David Frydlinger and published by Springer Nature. This book was released on 2021-05-24 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s business environment is constantly evolving, filled with volatility, uncertainty, complexity and ambiguity and driven by digital transformation, globalization, and the need to creating value through innovation. These shifts demand that organizations view contracting through a different lens. Since it is impossible to predict every what-if scenario in a transactional contract, organizations in strategic and complex partnerships must shift to a mindset of shared goals and objectives built upon a strong foundation of transparency and trust, working together to mitigate risk much better than merely shifting risk to the weaker party. Contracting in the New Economy helps you to not only develop this mindset – but also offers the practical tools needed to embrace the social side of contracting, enabling your organization to harness the value creating potential of formal relational contracts. Briefly sharing the theoretical foundations that prove relational contracting works, it goes well beyond theory by providing powerful examples of relational contracting principles in practice. In addition, the authors provide a practical and proven approach for helping you to put relational contracting theory into practice for your own relationships. First by providing a framework for approaching any contracting situation and helping organizations finding the best contract model for each situation. And then by sharing five proven steps you can take to create an effective relational contract for you own strategic and complex business relationships. For anyone involved in developing contracts —lawyers, in-house counsels, contract managers, C-level managers, procurement officers, and so on — this book will empower you to create powerful cooperative alliances that will help you reach —and surpass — your business goals in today’s dynamic new environment.
Book Synopsis Relational Supply Contracts by : Michaela Isabel H Hn
Download or read book Relational Supply Contracts written by Michaela Isabel H Hn and published by . This book was released on 2009-10-04 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Relational Contracting and Network Management by : Anthony M. Bertelli
Download or read book Relational Contracting and Network Management written by Anthony M. Bertelli and published by . This book was released on 2017 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our argument connects the management of relational contracts with the management of policy networks. Thinking about bilateral, horizontal extensions of governmental authority in a state of agents can be enhanced, we claim, because of the rich offerings of relational contracting theory. We review key results from economic theories of relational contracting, provide public-sector examples, and present a set of testable propositions that suggest a rationale for the creation and expansion of policy networks through relational contracting and its management. While adding theoretical leverage to research on public sector contracting, our approach provides one means of explaining the emergence of policy networks, and implications for managing within them.
Book Synopsis Contractual Renegotiations and International Investment Arbitration by : Aikaterini Florou
Download or read book Contractual Renegotiations and International Investment Arbitration written by Aikaterini Florou and published by BRILL. This book was released on 2020-03-02 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Contractual Renegotiations and International Investment Arbitration, Aikaterini Florou explores the complex phenomenon of the renegotiation of investor-state contracts. The author reconstructs the relationship between those contracts and the overarching investment treaties using an original interpretative methodology based on transaction cost economics and relational contract theory.
Download or read book Getting to We written by J. Nyden and published by Springer. This book was released on 2013-09-09 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on best practices and real examples from companies who are achieving record results, Getting to We flips conventional negotiation on its head, shifting the perspective from a tug of war between parties to a collaborative partnership where both sides effectively pull against a business problem.
Book Synopsis Complex Contracting by : Trevor L. Brown
Download or read book Complex Contracting written by Trevor L. Brown and published by Cambridge University Press. This book was released on 2013-08-08 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complex Contracting draws on core social science concepts to provide wide-ranging practical advice on how best to manage complex acquisitions. Using a strong analytical framework, the authors assess contract management practices, suggesting strategies for improvement and ways to avoid the pitfalls of managing contracts for large and sophisticated projects. An in-depth analysis of the US Coast Guard's Deepwater program is included to illustrate ways to respond to real-world contracting challenges. This high-profile and controversial case consisted of a projected 25-year, $24 billion contract through which the US Coast Guard would buy a system of new boats, aircraft, communications, and control architecture to replace its aging fleet. The authors explore the reasons why this program, launched with such promise, turned out so poorly, and apply the lessons learned to similarly complex contracting scenarios. This engaging and accessible book has broad applicability and will appeal to policymakers, practitioners, scholars and students.
Book Synopsis Psychological Contracts in Organizations by : Denise Rousseau
Download or read book Psychological Contracts in Organizations written by Denise Rousseau and published by SAGE. This book was released on 1995-05-18 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing together a wide range of theory from social and cognitive psychology, organizational behaviour, organizational learning and the management of change, this text draws useful conclusions about important psychological processes.
Book Synopsis The Relational Theory of Contract by : Ian R. MacNeil
Download or read book The Relational Theory of Contract written by Ian R. MacNeil and published by . This book was released on 2001 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Vested Way written by Kate Vitasek and published by Macmillan. This book was released on 2012-04-06 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: We live in a world where we constantly ask “what’s in it for me?” But that is not the path to success. Partnership and collaboration is where innovation meets business success. In this single, authors Kate Vitasek and Karl Manrodt reveal how theory in collaboration and partnerships meet in practice. They share how successful relationships have taken Nobel Prize winning academic concepts and applied them in real life situations to achieve extraordinary results. And most importantly The Vested Way provide insights into how you can take theory and actual cases and apply them to your own relationships to help you achieve results you are hoping for.
Book Synopsis Relationship Management and the Management of Projects by : Hedley Smyth
Download or read book Relationship Management and the Management of Projects written by Hedley Smyth and published by Routledge. This book was released on 2014-08-27 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relationship Management and the Management of Projects is a guide to successfully building and managing relationships as a project manager and in the project business. Relationship management is a core skill for any project business to develop capabilities and manage the interface with projects, providing guidance to project managers as they negotiate with business partners and coordinate between business functions. Whatever the structures and procedures an organization has and whatever the project management tools and techniques, they are only as good as the hands they are in. Yet relationship management, though a well-established discipline, is rarely applied to the process-driven world of project management. This book is a much-needed guide to the process of enhancing these skills to boost firm performance, team performance and develop collaborative practices. Hedley Smyth guides you through the processes of relationship management examining the theory and practice. This book highlights the range of options available to further develop current practices to ensure a successful relationship management in all stages of a project’s lifecycle. Relationship Management and the Management of Projects is valuable reading for all students and specialists in project management, as well as project managers in business, management, the built environment, or indeed any industry.
Book Synopsis Supervising Relational Contracts by : Marta Troya Martinez
Download or read book Supervising Relational Contracts written by Marta Troya Martinez and published by . This book was released on 2018 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relational contracts are often studied as being between a principal and agent, such as an employer and an employee. But what happens when the relationship is managed by a supervisor, such as a manager? We develop a theory of supervised relational contracts and show that relational side payments between the supervisor and agent change the equilibrium contract in important ways. First, side payments facilitate the supervisor's commitment, potentially enabling levels of effort the principal could not achieve directly. Second, more valuable relationships may sustain more collusion, and hence produce less effort. We also analyze how the principal should bound the supervisor's discretion, and show that the principal benefits from entrusting a relationship to a supervisor when relational contracts are difficult.
Book Synopsis Contract in Commercial Law by : Simone Degeling
Download or read book Contract in Commercial Law written by Simone Degeling and published by . This book was released on 2016-12-14 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contract in Commercial Law is a collection of essays based on the papers presented at the Contracts in Commercial Law Conference 2015. This work brings together the views of leading commentators in the area - Judges, Academics and Legal Practitioners- in this key area of the law. This publication is the fourth title in the prestigious "Commercial Law Library" series, accompanying Equity in Commercial Law, Unjust Enrichment in Commercial Law and Torts in Commercial Law. Together these works comprise an unparalleled collection of essays examining deeper controversies and issues of principle in commercial law. Contract in Commercial Law guides practitioners through a complex, difficult and controversial area of the law, offering a unique resource illuminating the many particular and difficult issues of contract law.
Book Synopsis Implicit Dimensions of Contract by : David Campbell
Download or read book Implicit Dimensions of Contract written by David Campbell and published by Bloomsbury Publishing. This book was released on 2003-07-16 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays, derived from an international workshop, explores the significance of implicit understandings and tacit expectations of the parties to different kinds of contractual agreements, ranging from simple discrete transactions to long-term associational agreements such as those formed in companies. An interdisciplinary and comparative approach is used to investigate how the law comprehends and gives effect to the these implicit dimensions of contracts. The significance of this enquiry is found not only in relation to the interpretation of contracts in many different contexts, but more fundamentally in how social practices involved in making contracts should be analysed and comprehended.
Book Synopsis Relational Contracting for Construction Excellence by : Albert P Chan
Download or read book Relational Contracting for Construction Excellence written by Albert P Chan and published by Routledge. This book was released on 2009-09-23 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Improved efficiency and effectiveness in the construction industry provide huge potential savings. Various forms of relational contracting such as partnering, alliancing, public private partnership (PPP), and joint venture are good examples of this. Relational Contracting for Construction Excellence presents the principles of relational contracting, practicalities and a series of short case studies. Principles begins with the fundamentals then covers development in major countries, definitions of relational contracting, their benefits, difficulties, critical success factors and key performance indicators. Practice includes the relational contracting approach and process in general, and significant factors which make workshops successful, at whatever stage of the process. A number of real-life case studies from the UK, USA, Australia, and Hong Kong are provided. Since the book draws on a combination of practical consultancy works and university research, a wide range of readers will find it useful, i.e. from industrial practitioners to undergraduate students.
Book Synopsis The Handbook of Organizational Economics by : Robert S. Gibbons
Download or read book The Handbook of Organizational Economics written by Robert S. Gibbons and published by Princeton University Press. This book was released on 2013 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt: (E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
