Transaction Costs as a Factor in Price Formation, Product Costing, and Ensuring Enterprise Competitiveness

Abstract

In today’s competitive environment, transaction costs increasingly affect the overall economic efficiency of enterprises by shaping both product prices and cost structures. The growing complexity of contractual relationships, legal risks, and informational asymmetry necessitates a systematic approach to managing transaction costs throughout the entire contract cycle - from partner search to contract execution control. Particular attention is given to the role of digital tools in optimizing these costs, as they offer new opportunities for automation, standardization, and enhanced transparency of business processes.

The purpose of this article is to analyze the origins of transaction costs, identify their impact on pricing and product cost formation, explore cost minimization mechanisms within contractual activities, and justify the relevance of digital instruments in improving the economic efficiency of enterprises.

The study applies general scientific methods of analysis, comparison, generalization, as well as elements of economic-statistical and graphical analysis. Based on data from the State Statistics Service of Ukraine, the dynamics of transaction-based industries within GDP are examined, a classification of costs is developed, and new approaches to their accounting and control are proposed.

The research findings confirm that transaction costs are a significant component of enterprise expenditures, often overlooked in traditional accounting. The article proposes approaches to systematizing these costs, including the implementation of accounting forms, contract templates, contract audits, and the use of digital platforms (CRM, ERP, CLM) to reduce negotiation, coordination, and monitoring costs.

The conclusions substantiate that effective transaction cost management requires the integration of analytical, accounting, and digital approaches. Such integration not only reduces costs associated with contract execution and support but also directly contributes to lowering product costs, thereby increasing profitability and the enterprise’s competitiveness amid market instability.