A study on the relational contract of knowledge trading among members in the supply chain based on the perspective of cooperative innovation

Science Research Management ›› 2015, Vol. 36 ›› Issue (7) : 38-48.

Chen Wei¹, Zhang Xumei², Song Han³

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Abstract

Based on the perspective of cooperative innovation in the supply chain, the double moral hazard in knowledge trading among members resulted by the intangibility and unverifiability of their resources input will hinder the smooth progress of knowledge trading. Aiming at the above-mentioned problem, formal contract and relational contract of knowledge trading are designed with principal-agent theory, and then the incentive effects of contracts are analyzed. The conclusions indicate that the formal contract cannot motivate their contribution in knowledge trading effectively; the transfer quantity of knowledge trading and innovation income of supply chain under the relational contract are not less than that under the formal contract for all discount rate; the incentive effectiveness of the relational contract is getting more obvious with the increase of discount rate. When the discount rate reaches a certain threshold value, the optimal resources input and innovation income can be achieved through relational contract. At last, the effectiveness of the conclusions is verified through numerical examples.

Key words

supply chain / knowledge trading / cooperative innovation / formal contract / relational contract

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Chen Wei, Zhang Xumei, Song Han. A study on the relational contract of knowledge trading among members in the supply chain based on the perspective of cooperative innovation[J]. Science Research Management. 2015, 36(7): 38-48

References

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