Transaction attributes and adoption of hybrid governance in the Brazilian cattle market.
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A transaction cost economics framework was used to test hypotheses on the alignment of transaction attributes and governance structures using data from a sample of 84 beef cattle farms in Brazil. A bivariate logit model was employed. It was found that the adoption of traceability and its certification and highly capital-intensive production systems, used here as proxies for asset specificity, plays a positive role in the choice of hybrid forms of governance.
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Contracts, Transaction cost economics, livestock