Corporate Relations Trading Behavior And The Longitudinal Relationship Between Decision-making Research

The thesis intruduces vertical relationship theory and incomplete contracts theory, then advances more complete decision mechanism of vertical relationship, including affecting mechanism of relative variants to vertical relationship decision objective, of which the thesis focuses on inherent mechanism of vertical integration.In vertical relationship decision analysis based on traditional industrial organization theory, the factors that affect vertical relationship decision are mostly cost function, demanding function, industrial organization structure, firm's competitive behavior, which makes fundamental causes of vertical integration are double marginalization effects and scale economy effects. Subsequent new institutional economics abstracts transation cost, asset specificity, property rights structure, uncertainty, contract incompletion, based on which industrial ecomomists advance their research, and find these factors affect the decision problem of vertical relationship by more complicated mechanism. Vertical integration occurs when transaction cost is large, asset specificity is high, property rights structure is unreasonable, no rigorous regulation exists, defensive behavior is needed facing demand fluctuation, technical shock is small, firm network is incomplete, information cost is high, contract incompletion extent is low. On the basis of all the conclusions above, the thesis preparatorily advances that there is another factor of link transaction behavior affecting vertical relationship, and gives primary definition of relative concepts. The thesis advances that link transaction behavior can be classified into priority transaction, information informing, risk co-affording. In order to form effective vertical transaction relationship, the transaction parties will positively process link transation behavior, including transforming incontractible variants into contractible variants or analogously contractible variants. When the parties' link value is too low, one party will process vertical integration. The thesis advances new decision approach of vertical relationship.