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- Avoid Mutual Fund Transaction Costs
- You probably never thought about the cost your fund incurs simply by trading the stocks in its portfolio. Here's why you should — plus a few fund types to be wary of. All the more reason, then, to pay attention to transaction costs: the costs...
- Articles 2009-06-19
Additional Resources
- Outsourcing Internet Security: The Effect Of Transaction Costs On Managed Service Providers
- Transaction costs are a significant factor in outsourcing decisions. In the case of Internet security, outsourcing has higher transaction costs for two major reasons: The outsourcing process is not yet standardized; and there is uncertainty about the frequency and impact of cyber attacks creating large variations in coordination costs. This...
- White papers 2006-02-20
- The Effects of Business-to-Business E-Commerce on Transaction Costs
- This paper studies the changes in transaction costs from the introduction of the Internet in transactions between firms (i.e., business-to-business (B2B) e-commerce). It begins with a conceptual framework to organize the changes in transaction costs that are likely to result when a transaction is transferred from a physical marketplace to...
- White papers 2000-11-01
- A Comparison of Two Ways of Applying Transaction Costs Approach(I): Methodological Debates
- Whilst the importance of transaction costs in construction has been accorded pervasive recognition, the methodologies used to apply this concept to the analysis of the construction process have been divergent. One way starts from searching for quantifiable items of transaction costs and explores the link between these costs and procurement...
- White papers 2000-01-15
- Multiple Risky Assets, Transaction Costs and Return Predictability: Implications for Portfolio Choice
- This paper contributes to the dynamic portfolio choice and transaction cost literatures by considering a multi-period CRRA individual who faces transaction costs and who has access to multiple risky assets, all with predictable returns. The paper numerically solves the individual's multi-period problem in the presence of transaction costs and predictability....
- White papers 2002-12-17
- Lower transaction costs not necessarily good for funds.
- Watson Wyatt has warned that pension funds do not necessarily benefit by driving their transaction costs down. Nick Watts, European partner at Watson Wyatt, says: 'We should be very wary about saying that lower transaction costs are always better for pension funds. The focus must be...
- Research articles 2002-05-05
- Small Firms And Offshore Software Outsourcing: High Transaction Costs And Their Mitigation
- It seems surprising that small firms engage in offshore outsourcing given that they lack the resources that large firms possess to overcome the difficulties involved. This paper examines these factors using transaction cost theory's three stages: contact costs, contract costs, and control costs. Then, using field data from small client...
- White papers 2005-07-01
- Explaining the Magnitude of Liquidity Premia: The Roles of Return Predictability, Wealth Shocks and State-Dependent Transaction Costs
- The paper bridges the gap between Constantinides' theoretical result and the empirical magnitude of the liquidity premium by examining dynamic portfolio choice with transaction costs in a variety of more elaborate settings that move the problem closer to the one solved by real-world investors. In particular, the paper allows returns...
- White papers 2004-12-01
- Customs-Related Transaction Costs, Firm Size and International Trade Intensity
- This paper analyses the role of firm size as a determinant of customs-related transaction costs, as well as the effect of firm size on the relationship between these costs and the international trade intensity of firms. It submits that economies of scale should be related to the size of the...
- White papers 2001-02-01
- Optimal Consumption And Investment With Transaction Costs And Multiple Risky Assets
- This article mainly discusses about optimal consumption and investment with transaction costs and multiple risky asset. It considers the optimal intertemporal consumption and investment policy of a CARA investor who faces fixed and proportional transaction costs when trading multiple risky assets. It show that when asset returns are uncorrelated, the...
- White papers 2003-01-01
- A Comparison of Two Ways of Applying Transaction Costs Approach(II): The Case of Construction Procurement Routes
- Whilst the importance of transaction costs in construction has been accorded pervasive recognition, the methodologies used to apply this concept to the analysis of the construction process have been divergent. This paper claims that the attempt to provide explanatory foundation for construction procurement behavior by quantitatively measuring each important element...
- White papers 2000-01-15
- The Valuation of Houses in an Uncertain World With Substantial Transaction Costs
- This paper presents a dynamic model of residential real estate valuation that takes into account the uncertain time paths of rents and prices and the substantial transaction costs. By temporarily postponing decisions, potential buyers and sellers obtain additional information about future rents and prices and may avoid transactions that are...
- White papers 2004-06-02
- Long Live the "Hybrid": What Transaction Costs Economics Left Unseen
- Inquiring into Transaction Costs Economics' TCE definition of uncertainty has been pushed by insights into the organisation of activities, as they are observed for example in advertising agencies when producing advertising campaigns. A curiosity over the reasoning of the transaction costs theory regarding hybrid governance structures' ability to cope with...
- White papers 2003-01-01
- Treatment of capitalized costs of intangible assets: this two-part article provides an overview of cost recovery for intangible asset expenditures. Part 2 covers the income-forecast and units-of-production methods, computer software, transaction costs and
- EXECUTIVE SUMMARY * In many cases, taxpayers may be eligible to accelerate amortization deductions using the income-forecast or units-of-production methods. * Transaction costs are added to the basis of acquired intangible assets, acquired stock or, in the case of a tax-free...
- Research articles 2007-05-01
- Transaction costs and the historical evolution of the capitalist firm
- The aim of this paper is to critically assess the contribution of transaction costs economics TCE in explaining the nature of the firm. TCE suffers from conceptual problems and lacks a historical-evolutionary basis. The pursuit of a historically informed evolutionary perspective exposes the limits of TCE and points to the...
- Research articles 1998-12-01
- Incentives versus Transaction Costs: A Theory of Procurement Contracts
- Inspired by facts from the private sector construction industry, we develop a model that explains many stylized facts of procurement contracts. The buyer in our model incurs a cost of providing a comprehensive design, and is faced with a trade-off between providing incentives and reducing ex post transaction costs due...
- White papers 2001-04-01
- Consumption, Durable Goods, and Transaction Costs
- The paper studies consumption of durable and nondurable goods when the durable good is subject to transaction costs. In the model, agents derive utility from a service flow of a durable good and a consumption flow of a nondurable good. The key feature of the model is the existence of...
- White papers 2003-01-01
- Transaction costs relating to acquisition or enhancement of intangible property: a populist, political, but practical perspective
- "An outstanding feature of this criterion [of Practicality] is the restraint it imposes on zealous aspirations to achieve near perfect conformity with other criteria. Compromises, often quite crude, are forced frequently because dogged Practicality must be heeded." (1) I. INTRODUCTION Since the early 1970s, a taxpayer has been...
- Research articles 2002-09-22
- Stochastic Dominance Bounds on Derivative Prices in a Multiperiod Economy With Proportional Transaction Costs
- By applying stochastic dominance arguments, upper bounds on the reservation write price of calls and puts and lower bounds on the reservation purchase price of these derivatives are derived in the presence of proportional transaction costs incurred in trading the underlying security. The primary contribution is the derivation of bounds...
- White papers 2002-04-01
- Predicting the Use of External Labor Arrangements: A Test of the Transaction Costs Perspective
- Firms' increasing use of external labor arrangements ELAs has been difficult to reconcile with resource based propositions concerning the development of organizational capabilities. The paper tests hypotheses drawn from the transaction costs perspective to predict which jobs firms would fill with ELAs versus traditional employment relationships. The finding helps to...
- White papers 2001-01-15
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