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Product Virtuality and Firms ’ Performance in E-Commerce : A Transaction Cost Approach

In the trade of e-commerce, consumers have to make a purchase decision under the condition that some characteristics of the products are known to them while others are not. Based on the transaction cost approach, this study tries to probe the relation between the degree of product virtuality and firms’ performance in e-commerce market in the condition that consumers don’t have perfect information. Ten kinds of products are classified into three types of goods by using the two structural dimensionsconsumers’ recognition of transaction costs and the degree of virtuality. The internet consumers that have actual purchase experience and firms are the objects to investigate. It is found that the transaction costs that consumers spend on e-commerce will influence firms’ operational performance.