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Foundations of Corporate SuccessHow Business Strategies Add Value$
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John Kay

Print publication date: 1995

Print ISBN-13: 9780198289883

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/019828988X.001.0001

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Relationships and Contracts

Relationships and Contracts

(p.50) Chapter 4 Relationships and Contracts
Foundations of Corporate Success

John Kay (Contributor Webpage)

Oxford University Press

Following an understanding of the relationships that form a firm, two main types of commercial relationships are recognized. Spot contracts refer to agreements for immediate exchanges, whereas relational contracts occur in cases in which the companies involved face a ‘repeated game’. The appropriateness of each depends on the specific circumstances of the exchange.

Keywords:   cooperation, firm, implicit contract, opportunism, relational contract, relationships, repeated game, spot contract, strategy

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