SoukromĂŠ transakÄnĂ­ nĂĄklady zadĂĄvĂĄnĂ­ veĹejnĂ˝ch zakĂĄzek a faktory ovlivĹujĂ­cĂ­ jejich výťi

Public procurement is subject to very strict and detailed legal regulation, which generates significant transaction costs on the part of both the public and private sectors. This paper aims are to quantify the size of private transaction costs associated with participation in tenders and to identify the main factors that affect their value. The presented results are based on a survey containing 804 observations. The total value of the private transaction costs in 2012 is estimated at CZK 9 billion, which represents 1.8% of contracts value. Using regression model, we have identified factors that influence the size of transaction costs at the level of individual firms. These are relatively lower for larger contracts, supply contracts and also for more experienced companies. In contrast, higher values are found in smaller contracts, larger companies and companies that are more successful in tenders.