TRANSACTION COSTS OF BUSINESS ORGANIZATION

Medushevskaya Inna Evgen'evna, Candidate of economic sciences, associate professor, sub-department of economics and finances, Penza branch of the Financial University under the Government of the Russian Federation (33b Kalinina street, Penza, Russia), iem1616@mail.ru

657.471.1

Background. The process of interaction of economic agents in the modern world is becoming more complicated, a number of transactions are multiplying, the information flow is growing, and, as result, transaction costs of modern commercialfirms are sharply increasing. Despite the fact that researches in the leading areas of institutionalism are widely represented in the Russian press, not many studies present the methodology for assessing transaction costs and specific examples of calculations. The purpose of the article is to identify and analyze transaction costs of commercial organizations in Russia to develop recommendations on their optimization.
Materials and methods. The objectives were implemented through a systematic analysis of transaction costs, their classification. The author used general economic methods – dialectical, abstraction, analysis, induction, modeling, and statistical methods, the method of comparison, and others.
Results. Transaction costs are the costs of interaction of economic agents, their level determines effectivenessof such cooperation. The main reasons for their occurrence: payment for information; incompleteness and asymmetry of information; opportunistic behavior; bounded rationality. The article classifies transaction costsof commercial firms in detail by various criteria, defines their role at the present stage, and gives calculations of transaction costs by the example of a model contract of a pharmaceutical organization with a dealer network. The author has developed ways to minimize transaction costs of a modern company.
Conclusions. The Russian economy is an example of high transaction costs. It is these condition where modern commercial organizations operate. The value of transaction costs of a company is increasing as a result of inefficiency of modern economic institutions, rules and regulations controling the interaction of economic agents. The study allows not only to identify and classify transaction costs of a modern company by various criteria,but also to formulate a set of measures to minimize them.

transaction costs, firm, commercial organization, opportunism.

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