The Study On The Relationship Between Investment Structure And Nonmarket Governance Of Marketing Channel Members

In the recent years, the constant conflicts among the exchange relationship of Chinese channel members were more and more concerned by the government departments and academia. Existing theories of inter-organizational gonvernance of exchange relationship can't explain the issue of channel member governance of exchange relationship. This paper starts from the nonmarket governance framework, which was the central capability, advanced by foreign researchers in these years, and integrates the effect of transaction-specific investment on nonmarket governance. The innovation of this paper is as following:(1) This paper introduces the relationship capability investment to the study on consciously established exchange relationship by the channel members, and constructs the conceptional model of the effect of relationship investment structure on nonmarket governance, and then on relationship performance. This paper based on two dimensions of nonmarket governance, that is the level of unilateral governance and bilateral governance, which advanced bu Heide, introduces relationship capability which is the core conception in strategic management theory, and define the renaltionship capability investment in marketing channel context, and distinguish between relationship capability investment of manufacturer and dealer. Based on it, the paper constructs the effect of relationship investment structure on nonmarket governance and the concept model of the effect on relationship performance. Relationship capability investment and transaction-specific investment indicate and prove their effect on the level of unilateral governance and bilateral governance by the way of "unilateral relationship capability investment"and "bilateral relationship capability investment" as well as "unilateral transaction-specific investment" and "bilateral transaction-specific investment".(2) This paper approves the difference between the effect of the unilateral relationship transaction-specific investment and unilateral relationship capability investment on the unilateral and bilateral governance. The empirical results show unilateral investment and unilateral governance are different in unilateral relationship transaction-specific investment and unilateral relationship capability investment. It indicates channel member unilateral transaction-specific investment have a positive effect on the unilateral governance of its partner, that is manufactures make a unilateral transaction-specific investment and dealers obtain unilateral governance capability; similarly, dealers make a unilateral transaction-specific investment and manufactures obtain unilateral governance capability. But the empirical result of unilateral relationship capability and unilateral governance level is different. It shows unilateral relationship capability investment has a positive effect on unilateral governance level. Manufactures make a relationship capability investment and will obtain unilateral gorernance capability. The relationship between unilateral investment and bilateral governance are different in unilateral relationship transaction-specific investment and unilateral relationship capability investment.(3) This paper approves the effect of bilateral relationship transaction-specific investment and bilateral relationship capability investment on bilateral governance level and unilateral governance are the same, but different in the aim. There is no difference between channel member bilateral investment and unilateral governance in bilateral relationship transaction-specific investment and bilateral relationship capability investment. The empirical results show bilateral transaction-specific investment has a positive effect on bilateral governance; In the same, bilateral relationship capability investment has a positive effect on bilateral governance. Althouth they have the same influencing results, bilateral governance has a different aim. The aim of channel member bilateral governance caused by bilateral transaction-specific investment is providing a better protect for transaction-specific investment through negotiation to reolve issues. The aim of bilateral governance caused by bilateral relationship capability investment is the expectation of channel member to get a bigger and stronger benefit pie.The relationship of bilateral investmeng and unilateral governance has no difference in bilateral relationship transaction-specific investment and bilateral relationship capability investment. The empirical results show that bilateral transaction-specific investment has a negative effect on channel member unilateral governance, bilateral relationship capability investment has a negative effect on bilateral relationship capability investment.(4) The paper approves unilateral governance and bilateral governance have different effects on channel member relationship satisfaction and conflict. Theory and empirical results indicate that channel members implementing unilateral governance and bilateral governance have different affect on cahnnel relationship performance. Empirical results have showed channel member unilateral governance has a negative effect on relationship performance. Bilateral governance hase positive effect on channel member relationship performance. It shows when powerful members implement governance on exchange relationship, they can fairly deal with things happened in the course of exchange, that is the negative effect of unilateral governance on satisfaction reduce but the positive effect on conflict reduce.