Vlasenko О. The Management of Transaction Costs in Agribusiness

Research object: the process of forming transaction costs in agribusiness. Research purpose: the working out of the theoretical and methodical propositions and practical recommendations concerning the transactional costs management in agribusiness. Research techniques: the dialectical method, the method of systems approach, the abstract and logical method, the economico-statistical method, the methods of interviewing and expert judgment, the method of weighing out and the correlation and regression technique. Theoretical and practical results: the theoretical results consist in the enrichment of the science with new theoretical and methodological approaches to the management of transaction costs of agribusiness enterprises. The practical outcome of the investigation made is the totality of the worked out recommendations as to managing transaction costs of agribusiness enterprises through the system of collecting and processing information on transaction expenditures for the co-ordination of market interaction and the avoidance of income losses due to the non-fulfilment of contractual commitments by partners as well as due to the imperfection of the institutional environment. Scientific novelty: it is for the first time that a methodological approach to the management of transaction costs has been suggested. It is based on the algorithm of collecting and processing information in accordance with the kinds of transaction costs, with the use of the author’s methods of the indicative analysis as well as the technique of converting indicator values into monetary units, which makes it possible to reveal reserves for increasing management efficiency on the basis of the by-variant approach to selecting an object of management. The author has improved the interpretation of the concept of “transactional costs”, that of the nature of transaction costs in agribusiness and the very classification of transaction costs. She has also elaborated proposals as to the management of transaction costs of farm enterprises and those concerning the setting up of service cooperatives. Degree of introduction: the result of the research are used: a) by Zhytomyr oblast executive organs in the course of forming favourable conditions for the development of the agrarian sector; b) by Zhytomyr National Agroecological University in teaching certain subjects; c) by enterprises of agribusiness for increasing the efficiency of the transaction costs management. Efficiency: the results of the research make it possible to substantiate the conceptual principles of the mechanism of managing transaction costs of agrarian enterprises for increasing their operational efficiency under the conditions of the imperfective institutional environment. Sphere of application: Central Boards of Economy and Agro – Industrial Development; higher educational institutions; enterprises of agribusiness.