Transaction costs and their impact on industry’s internationalisation degree – theoretical framework

Abstract

The aim of the article is to develop a theoretical model that would allow the examination of the relationship between the degree of internationalisation of industry and its potential development. The framework groups the determinants into three categories: industry’s transaction cost level, industry life cycle and country development level. Each of the determinants is discussed separately with a presentation of variables that could be used in an empirical study. The paper also suggests possible hypotheses that are developed on the basis of literature studies and observations.