Relationship-specific Investment And Firm Performance

Relationship-specific investment is an economic concept derived from asset specificity and is an asset which invested by a business as a business trader in order to carry out business transactions with a particular trading partner.Based on the concept of relationship-specific investment,this paper investigates the benefits of relationship-specific investment for automobile manufacturers in China.It includes reducing the transaction costs of enterprises and improving the performance level of enterprises.In this paper,through the study of the relationship between the specific investment and the supplier interaction.Expand the research and development of the relationship between the investment enterprises in the supply chain and suppliers in the field of optimization,try to help enterprises in the analysis of their own relationship Investment on the basis of the effectiveness of the system,resources and capacity to build a value creation-oriented production model.Enhance their own competitive advantage and market adaptability,the establishment of a stable and efficient procurement network,so that enterprises in the ever-changing environment can effectively build a competitive advantage.However,due to the automobile manufacturers companies listed on the top five suppliers specific information content restrictions,such as the use of enterprises and the top five suppliers to purchase products accounted for the proportion of annual procurement business as a measure of the relationship between investment,but very few listed companies It is difficult to understand the relevant information from the top five suppliers and it is difficult to understand the relevant information through the relevant channels.Therefore,the measurement method may be used to observe only one aspect of the specific investment of the enterprise and the supplierThe contents of this article are divided into the following parts:The first part is the introduction of the research background,which mainly expounds the importance of the relationship-specific investment,the theoretical and practical significance of the research,and the research content and research methods.The second part:Domestic and foreign literature review.The third part:Summarizes the theory of relationship-specific investment and enterprise transaction cost and firm’s performance in automobile manufacturing enterprises,and puts forward the research hypothesis.The fourth part:The relationship between the specificity of investment and business transaction costs and business performance of the empirical study.The fifth part:Summarizes the relationship-specific investment model and puts forward the prospect of future research.This paper chooses the business data of the listed companies of automobile manufacturing enterprises listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2008 to 2014 as the research samples.And analyzes the relationship between listed companies and parts suppliers in automobile manufacturing enterprises Special investment and enterprise performance index as the research content,according to the transaction cost theory and the evaluation of enterprise performance,build the evaluation of enterprise transaction costs and business performance measurement model analysis.