Home  Journals  Economic Analysis: Theory and Practice  3(522) - 2022 March

The impact of digital technologies on transaction costs of firms

Received: 6 February 2022

Received in revised form: 15 February 2022

Accepted: 27 February 2022

Available online: 30 March 2022

Subject Heading: BUSINESS PERFORMANCE

JEL Classification: D20, D23, D83, O10

Pages: 497–521

https://doi.org/10.24891/ea.21.3.497

Subject. The article deals with measuring the impact of digital technologies on transaction costs of firms.
Objectives. The focus is on the analysis of the use of digital technologies by firms in marketing activities, in choosing counterparties, concluding and executing contracts, and the impact of information technology on transaction costs.
Methods. The study draws on methods of logical analysis, synthesis, and theoretical generalization.
Results. I analyzed scientific articles on the impact of digital economy on transaction costs of firms, conducted a survey of owners and directors of firms in Russia to study the use of digital technologies in marketing, in verifying the reliability of potential counterparties, in coordinating contract terms and in ensuring their fulfillment by counterparties. I also investigated priorities and barriers to the introduction of digital technologies by firms to reduce transaction costs. The study enabled to test the hypothesis about increased use of digital technologies by firms to reduce transaction costs.
Conclusions. The paper confirms the hypothesis that firms expand the use of digital technologies to reduce their transaction costs. The growth in the use of digital technologies is also affected by a number of obstacles faced by firms.

Keywords: transaction cost, digital technology, information technology, digital economy, digitalization

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