R&D Cooperation in a Transaction Cost Perspective

This paper investigates R&Dcooperation between buyers and suppliers, drawing bothon transaction cost theory and resource-based theoryof the firm. Results of logistic regression analyses,using a unique firm-level database containing 689manufacturing firms located in a Dutch region, supportassumptions of transaction cost theory. Frequentknowledge transfer and moderate and high levels ofasset specificity increase probabilities of R&Dcooperation. In particular, Williamson's assumptionsconcerning the moderating influences of uncertainty onbilateral governance are confirmed. Extending theoriginal transaction cost model with indicatorsderived from resource based theory of the firmincreases the performance of the model.