交易费用的会计计量及其对公司绩效的影响:理论与证据

Accounting Measurement of Transaction Costs and Its Effect on Corporate Performance:Theory and Evidence

交易费用是新制度经济学的核心范畴,但交易费用能否计量以及如何计量存在许多争议。交易费用的计量问题使得交易费用只能是一种分析工具,而难以成为一种内生变量,从而限制了新制度经济学的深入发展。对于企业实际发生的交易费用,既可以利用企业的会计核算资料和成本会计系统间接计量,又可以通过改进企业日常的会计处理直接计量。交易费用对公司绩效影响的实证研究结果表明,经营性交易费用对公司绩效具有显著的负面影响,分配性交易费用与公司绩效显著正相关。

Transaction costs are the core concept of new institutional economics. There are, however, a lot of argument over the issue： whether the transaction costs can be measured,or how to measure the transaction costs. The measurement of transaction costs makes transaction costs into a kind of analytical tool rather than an endogenous variable, thus limiting the development of new institutional eco- nomics. Companies can indirectly measure the actual business transaction costs by making use of accounting information and cost ac- counting system, and also can directly measure it by improving the day-to-day accounting treatment. The results of positive study on how transaction costs affect corporate performance shows that the operating transaction costs have a significant negative impact on corporate performance, while the allocating transaction costs have a positive correlation with corporate performance.