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Management of Transactional Costs and Ways of Their Optimization

Author (s)

Nomanova Alima Saidovna, Kuzibayeva Baroat Murotboyevna

Abstract

In their article the authors deal  with the following issues which require certain expenses on the  part  of economy holdings called transactional costs: divergences of economy interests, problems related to property right  advocacy, imperfection and asymmetricity of  market information, non-conscientiousness of market agents` behaviour, vapidness of  business processes in economic milieu. Transactional costs are  a payment of transactional services rendered by a transactional sector of economy.

For effective management with transactional expenses one  must orient on the managerial system of organizations, on their accounting, analysis and control at all the  stages of reproductional process. The  results of the  assessment  of transactional costs can and must be worked out in any economic holding; at present they being presented in a spontaneous form. However, for a convenience of a  formation of entire data over a market it is more expedient  to elaborate a unified form  of presentation  of assessment results. Elaboration and selection of the  form in question should be improved incessantly never remaining  unchangeable.

One can single  out three principal streamlines of  reduction in regard  to transactional costs: institutes  which  made possible a non-individual personal exchange, assumption of me­cha­nisms of advocacy  and compulsion towards property right observance by the state, utilization of the  results of the achievements of scientific-technical progress and innovational technologies.

Keywords

transactional costs, traditional agrarian economy, institutional changes, competitiveness, real sector, strategy, market conjuncture, asymmetricity

References

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Publication date

Friday, 03 July 2015