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Incomplete contracts and behavioural aspects – a case study in the construction and IT industries
Dissertation(MBA)--Gordon Institute of Business Science, University of Pretoria,2018.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2018
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| _version_ | 1867613491422035968 |
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| access_status_str | Open Access |
| author2 | Holland, Mike |
| author_browse | Holland, Mike |
| author_facet | Holland, Mike |
| collection | Thesis |
| dc_rights_str_mv | © 2018 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation(MBA)--Gordon Institute of Business Science, University of Pretoria,2018. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/65173 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:36:59.722Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/65173 Incomplete contracts and behavioural aspects – a case study in the construction and IT industries Holland, Mike ichelp@gibs.co.za Tong, Fei Carlo UCTD Incomplete contracts Relational contracting Contract theory Dissertation(MBA)--Gordon Institute of Business Science, University of Pretoria,2018. Contracts capture an agreement between two parties to exchange a resource in the future (ex-ante), however the future is not certain. Only after the event has happened, might the two parties compare the resources they have received to what they expected (ex-post). Entering into a contract with unknowns gives rise to incomplete contracts theory, the focus of which includes the study of human behavior. Relational contracting is currently being studied as a method of reducing the transaction costs and incompleteness of contracts. Using case studies, this research aimed to reach a conclusion regarding why certain contractual projects run over budget. Overruns are often related to a variation agreement that is incomplete and open to interpretation. Understanding what the issues are and how to mitigate contractual risks was thus a key focus of this research. The research examined two industries - construction and IT. From the case studies, 16 interviews were conducted and 12 contracts reviewed. The least concern for all the parties was disputes, as the parties find solutions to address issues not considered when drafting contracts. Industry specific experience and knowledge is needed to mitigate some unknown contractual risks, however. Relational contracting was also very evident in resolving issues outside of a contract. Further studies into ancillary contracts will reveal more insight into behavioural and relational contracting. Gordon Institute of Business Science (GIBS) MBA Unrestricted 2018-06-18T07:48:21Z 2018-06-18T07:48:21Z 2018-03-30 2017-11-05 Mini Dissertation Tong, FC 2018,Incomplete contracts and behavioural aspects – a case study in the construction and IT industries, MBA thesis, Gordon Institute of Business Science, University of Pretoria, Pretoria, viewed yymmdd http://hdl.handle.net/2263/31804 http://hdl.handle.net/2263/65173 en © 2018 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Incomplete contracts Relational contracting Contract theory Incomplete contracts and behavioural aspects – a case study in the construction and IT industries |
| title | Incomplete contracts and behavioural aspects – a case study in the construction and IT industries |
| title_full | Incomplete contracts and behavioural aspects – a case study in the construction and IT industries |
| title_fullStr | Incomplete contracts and behavioural aspects – a case study in the construction and IT industries |
| title_full_unstemmed | Incomplete contracts and behavioural aspects – a case study in the construction and IT industries |
| title_short | Incomplete contracts and behavioural aspects – a case study in the construction and IT industries |
| title_sort | incomplete contracts and behavioural aspects a case study in the construction and it industries |
| topic | UCTD Incomplete contracts Relational contracting Contract theory |
| url | http://hdl.handle.net/2263/65173 |