Research On The Nature Of Tourism Supply Chains

This paper studies not only the birth of Tourism Supply Chain from the perspectives of transaction cost economics and value creation but also Agency relations.Tourism Supply Chain is a institutional response to more and more furious global competition and uncertainty in market, and that it can save the transaction costs, the information cost and the time. In nature, Tourism Supply Chain is a nexus of a series contracts and a form of organization in between Coase's part and Cheung's part, and it is more nearer to the firm in Cheung's part.In the wake of Williamson's ideas, I argue that Tourism Supply Chain Management is relational Contract that has the ability of Self-Evolution deviated from the original contract. The self-Evolution can guarantee the interests of both sides who signed contracts.Based on Richardson, I argue that the sources of value creation are information sharing, Special Assets, complementary of resources, external economies of scale and rapid response advantage. I also analyze the process of the value creation of the five the sources.There are many issues to study in Tourism Supply Chains. In the phase of supply chain operation, agency problem is concerned with. Incentive contract is the core of agency mechanism. I have a preliminary analysis of the principal-agent problem.