Collaboration in Business to Business Relationships in a Three-tier Supply Chain

Harrison (1994) argues that in transactions between legally independent firms where asset specificity is involved (Williamson 1975), there is an actual dependency relationship. The existence of such dependencies means that financial transactions must be seen as a form of social relationship between the parties, and that they cannot be understood within the framework of neoclassical economic theory (Akselsen and Kalsaas 2009).