English, Article, Journal or magazine article edition: The Quasi-Judicial Role of Large Retailers: An Efficiency Hypothesis of Their Relation with Suppliers Benito Arruñada

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Bookmark: http://trove.nla.gov.au/version/155036
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Quasi-Judicial Role of Large Retailers: An Efficiency Hypothesis of Their Relation with Suppliers
Author
  • Benito Arruñada
Physical Description
  • preprint
Notes
  • The paper explores an efficiency hypothesis regarding the contractual process between large retailers, such as Wal-Mart and Carrefour, and their suppliers. The empirical evidence presented supports the idea that large retailers play a quasi-judicial role, acting as "courts of first instance" in their relationships with suppliers. In this role, large retailers adjust the terms of trade to on-going changes and sanction performance failures, sometimes delaying payments. A potential abuse of their position is limited by the need for re-contracting and preserving their reputations. Suppliers renew their confidence in their retailers on a yearly basis, through writing new contracts. This renovation contradicts the alternative hypothesis that suppliers are expropriated by large retailers as a consequence of specific investments.
  • Retailing, distribution, contracts, transaction costs, self-enforcement
  • RePEc:upf:upfgen:445
Language
  • English
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