The transaction cost approach maintains that some projects are easy to finance by debt and ought to be financed by debt. These are projects for which physical-asset specificity is low to moderate. (Oliver E. Williamson)

The transaction cost approach maintains that some projects are easy to finance by debt and ought to be financed by debt. These are projects for which physical-asset specificity is low to moderate.

Oliver E. Williamson

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approach cost debt easy finance low moderate ought transaction specificity projects

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