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Overcoming contract incompleteness: Evidence from long-term supply relationships

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Overcoming contract incompleteness: Evidence from long-term supply relationships. / Mouzas, Stefanos; Naidu, N T Sudarshan .
In: Production Planning and Control, 07.05.2024.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Mouzas, S & Naidu, NTS 2024, 'Overcoming contract incompleteness: Evidence from long-term supply relationships', Production Planning and Control. https://doi.org/10.1080/09537287.2024.2348518

APA

Mouzas, S., & Naidu, N. T. S. (2024). Overcoming contract incompleteness: Evidence from long-term supply relationships. Production Planning and Control. Advance online publication. https://doi.org/10.1080/09537287.2024.2348518

Vancouver

Mouzas S, Naidu NTS. Overcoming contract incompleteness: Evidence from long-term supply relationships. Production Planning and Control. 2024 May 7. Epub 2024 May 7. doi: 10.1080/09537287.2024.2348518

Author

Mouzas, Stefanos ; Naidu, N T Sudarshan . / Overcoming contract incompleteness : Evidence from long-term supply relationships. In: Production Planning and Control. 2024.

Bibtex

@article{2f7d86e8de684ab4a2b6560d0665d567,
title = "Overcoming contract incompleteness: Evidence from long-term supply relationships",
abstract = "This paper explains how firms address contract incompleteness in long-term supply relationships. For firms, it is practically impossible to assess all future eventualities, draft complete and fully contingent contracts, observe and verify the agreed performance. Based on an empirical investigation of long-term supply relationships between agribusiness and farms in India, we present evidence that under certain conditions overcoming contractual incompleteness is possible. We argue that firms are better able to deal with contract incompleteness when they specify contract clauses that regulate 1) recurrent interaction, 2) relational frame and 3) nonlegal enforceability. These three mechanisms of contract clauses enable firms to preserve the substance of how they wish to relate to each other and simultaneously allow them to remain sufficiently flexible to embrace new opportunities.",
author = "Stefanos Mouzas and Naidu, {N T Sudarshan}",
year = "2024",
month = may,
day = "7",
doi = "10.1080/09537287.2024.2348518",
language = "English",
journal = "Production Planning and Control",
issn = "0953-7287",
publisher = "Taylor and Francis Ltd.",

}

RIS

TY - JOUR

T1 - Overcoming contract incompleteness

T2 - Evidence from long-term supply relationships

AU - Mouzas, Stefanos

AU - Naidu, N T Sudarshan

PY - 2024/5/7

Y1 - 2024/5/7

N2 - This paper explains how firms address contract incompleteness in long-term supply relationships. For firms, it is practically impossible to assess all future eventualities, draft complete and fully contingent contracts, observe and verify the agreed performance. Based on an empirical investigation of long-term supply relationships between agribusiness and farms in India, we present evidence that under certain conditions overcoming contractual incompleteness is possible. We argue that firms are better able to deal with contract incompleteness when they specify contract clauses that regulate 1) recurrent interaction, 2) relational frame and 3) nonlegal enforceability. These three mechanisms of contract clauses enable firms to preserve the substance of how they wish to relate to each other and simultaneously allow them to remain sufficiently flexible to embrace new opportunities.

AB - This paper explains how firms address contract incompleteness in long-term supply relationships. For firms, it is practically impossible to assess all future eventualities, draft complete and fully contingent contracts, observe and verify the agreed performance. Based on an empirical investigation of long-term supply relationships between agribusiness and farms in India, we present evidence that under certain conditions overcoming contractual incompleteness is possible. We argue that firms are better able to deal with contract incompleteness when they specify contract clauses that regulate 1) recurrent interaction, 2) relational frame and 3) nonlegal enforceability. These three mechanisms of contract clauses enable firms to preserve the substance of how they wish to relate to each other and simultaneously allow them to remain sufficiently flexible to embrace new opportunities.

U2 - 10.1080/09537287.2024.2348518

DO - 10.1080/09537287.2024.2348518

M3 - Journal article

JO - Production Planning and Control

JF - Production Planning and Control

SN - 0953-7287

ER -