The Resource Contractual formalization and governance of long-term relationships, Marco Gobbato

Contractual formalization and governance of long-term relationships, Marco Gobbato

Label
Contractual formalization and governance of long-term relationships
Title
Contractual formalization and governance of long-term relationships
Statement of responsibility
Marco Gobbato
Creator
Contributor
Subject
Language
eng
Summary
In this paper I discuss the relationship between contractual formalization, contractual incompleteness and the governance of long-term relationships. I analyze data on contracts for the production and distribution of goods collected between 2004 and 2009 in two research projects, one carried out in four industrial districts in north-east Italy in different manufacturing industries, and the other conducted at European level on the wine sector with seven case studies. The data show that purely oral contracts are rare, while formalization is significant even if the amount of litigation before courts is almost nil. I first consider some factors affecting contract formalization. Then, I try to provide an explanation which relates to the governance of contractual relationships. I divide contractual relationships into market transactions, where parties rely mainly on detailed written contracts, and strategic relationships, which are partly regulated in writing - however vaguely - and partly not regulated at all. In this latter case, parties leave some issues unregulated because they may enter self-enforcing agreements or, if this is not the case, because they face radical uncertainty. In this situation, they prefer to resolve adaptation problems cooperatively instead of resorting to legal enforcement. I hold that for strategic relationships courts should adopt a mixed strategy: to adhere to written terms as much as possible and, for disputes arising on issues which are not regulated at all, to try to avoid filling the gaps and leave the determination to the parties
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Gobatto, Marco
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
Max Weber Programme
Series statement
  • EUI working papers. MWP
  • EUI papers
Series volume
2011/22
http://library.link/vocab/subjectName
  • Contracts
  • Form of contract
Label
Contractual formalization and governance of long-term relationships, Marco Gobbato
Link
http://hdl.handle.net/1814/18636
Instantiates
Publication
Note
Keywords: Inter-firm contracts; long-term relationships; governance; formalization; incompleteness
Bibliography note
Includes bibliographical references
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb16997724
Dimensions
30 cm.
Extent
24 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
System control number
(OCoLC)871271157
Label
Contractual formalization and governance of long-term relationships, Marco Gobbato
Link
http://hdl.handle.net/1814/18636
Publication
Note
Keywords: Inter-firm contracts; long-term relationships; governance; formalization; incompleteness
Bibliography note
Includes bibliographical references
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb16997724
Dimensions
30 cm.
Extent
24 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
System control number
(OCoLC)871271157

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