12/1/2009
A lecturer from Aston Business School has won a prestigious American Marketing Association award for his work.
Erik Mooi’s
research revealed how unlikely businesses are to resort to legal
remedies to resolve contractual issues. Exploring the outcomes of
incomplete business contracts showed that in only 2 cases out of the
971 studied did firms resort to law, they preferred to use other
methods such as delaying payments.
Working with co-author Dave Gilliland of Colorado State University Erik
Mooi produced the academic paper which won an award at the 2008
American Marketing Association Educators’ Conference.
Commenting
on the research Erik Mooi said: “With an increased emphasis on
outsourcing and shortening business cycles, contracts between firms
have become more important. Carefully written contracts contribute to
the efficiency and longevity of inter-firm relationships as they may
constrain opportunism and are often a less costly governance mechanism
than maintaining complex social relationships.”
“Surprisingly few companies take their partners to court and
generally the non-legal means of contractual enforcement appear to be
effective.”
“I am delighted that our work has been acknowledged with this award.”
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