Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America

A new set of survey questions is used to map governance structures that firms employ to support the successful implementation of transactions. Responses to the questions were collected as part of the Enterprise Surveys in six South American countri...

Full description

Bibliographic Details
Main Authors:	Francis, David C., Karalashvili, Nona, Murrell, Peter
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2018
Subjects:	GOVERNANCE ENTERPRISE SURVEYS REGULATION BUSINESS ENVIRONMENT SMALL CLAIMS COURT LEGAL CONTRACT CONTRACT LAW TRANSACTIONS LATENT CLASS ANALYSIS
Online Access:	http://documents.worldbank.org/curated/en/524361534957836994/Mapping-the-landscape-of-transactions-the-governance-of-business-relations-in-Latin-America http://hdl.handle.net/10986/30291

id	okr-10986-30291
recordtype	oai_dc
spelling	okr-10986-302912021-06-14T10:07:22Z Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America Francis, David C. Karalashvili, Nona Murrell, Peter GOVERNANCE ENTERPRISE SURVEYS REGULATION BUSINESS ENVIRONMENT SMALL CLAIMS COURT LEGAL CONTRACT CONTRACT LAW TRANSACTIONS LATENT CLASS ANALYSIS A new set of survey questions is used to map governance structures that firms employ to support the successful implementation of transactions. Responses to the questions were collected as part of the Enterprise Surveys in six South American countries. Without imposing any a priori model, latent class analysis (LCA) discovers meaningful patterns of governance structures that readily match constructs in the literature. All governance structures use bilateralism. Bilateralism and formal institutions are sometimes complements, but never substitutes. For each firm, LCA provides estimates of the posterior probability that the firm uses each of the discovered governance structures. These estimates can be used by researchers to go further, testing their own hypotheses relevant to Williamson's discriminating alignment agenda using additional data from the Enterprise Surveys or elsewhere. Variations in the effectiveness of different governance structures across countries and across different types of firms and transactions are explored. Regional variation within countries is greater than cross-country variation. Foreign-owned firms, exporters, larger firms, and better-managed ones are more likely to use governance structures that complement bilateralism with use of the legal system or with the help of paid third-parties. 2018-08-23T19:11:27Z 2018-08-23T19:11:27Z 2018-08 Working Paper http://documents.worldbank.org/curated/en/524361534957836994/Mapping-the-landscape-of-transactions-the-governance-of-business-relations-in-Latin-America http://hdl.handle.net/10986/30291 English Policy Research Working Paper;No. 8564 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Latin America & Caribbean Latin America South America
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	GOVERNANCE ENTERPRISE SURVEYS REGULATION BUSINESS ENVIRONMENT SMALL CLAIMS COURT LEGAL CONTRACT CONTRACT LAW TRANSACTIONS LATENT CLASS ANALYSIS
spellingShingle	GOVERNANCE ENTERPRISE SURVEYS REGULATION BUSINESS ENVIRONMENT SMALL CLAIMS COURT LEGAL CONTRACT CONTRACT LAW TRANSACTIONS LATENT CLASS ANALYSIS Francis, David C. Karalashvili, Nona Murrell, Peter Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America
geographic_facet	Latin America & Caribbean Latin America South America
relation	Policy Research Working Paper;No. 8564
description	A new set of survey questions is used to map governance structures that firms employ to support the successful implementation of transactions. Responses to the questions were collected as part of the Enterprise Surveys in six South American countries. Without imposing any a priori model, latent class analysis (LCA) discovers meaningful patterns of governance structures that readily match constructs in the literature. All governance structures use bilateralism. Bilateralism and formal institutions are sometimes complements, but never substitutes. For each firm, LCA provides estimates of the posterior probability that the firm uses each of the discovered governance structures. These estimates can be used by researchers to go further, testing their own hypotheses relevant to Williamson's discriminating alignment agenda using additional data from the Enterprise Surveys or elsewhere. Variations in the effectiveness of different governance structures across countries and across different types of firms and transactions are explored. Regional variation within countries is greater than cross-country variation. Foreign-owned firms, exporters, larger firms, and better-managed ones are more likely to use governance structures that complement bilateralism with use of the legal system or with the help of paid third-parties.
format	Working Paper
author	Francis, David C. Karalashvili, Nona Murrell, Peter
author_facet	Francis, David C. Karalashvili, Nona Murrell, Peter
author_sort	Francis, David C.
title	Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America
title_short	Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America
title_full	Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America
title_fullStr	Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America
title_full_unstemmed	Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America
title_sort	mapping the landscape of transactions : the governance of business relations in latin america
publisher	World Bank, Washington, DC
publishDate	2018
url	http://documents.worldbank.org/curated/en/524361534957836994/Mapping-the-landscape-of-transactions-the-governance-of-business-relations-in-Latin-America http://hdl.handle.net/10986/30291
_version_	1764471665133092864

Mapping the Landscape of Transactions : The Governance of Business Relations in Latin America

Similar Items