Negotiation and Sources of Negotiation Power: Their Role and Importance in the Exchange Process in the Corporate Banking Market

Danijela KriŽman Pavlović and Erik Ruzicb

Economic Research-Ekonomska Istraživanja, 2013, vol. 26, issue 1, 115-138

Abstract: The paper is based on the assumption that the participants in an exchange process can positively influence many aspects of their own businesses, if they master the knowledge and skills in the field of business negotiation. The aim of the paper is to contribute to the knowledge of the specific characteristics of negotiation in the corporate banking market and of the impact of individual sources of negotiation power on the agreed terms of exchange between the banking customer and the bank. The conducted research has shown that banking customers can directly influence the terms of exchange in the corporate banking market. Furthermore, the research has shown the influence that the individual sources of negotiation power have on the achievement of more favourable terms of exchange for corporate banking customers. Implications of the conducted research are multiple. For instance, the results of the research provide guidelines to corporate banking customers as to how to develop an effective negotiation strategy in the corporate banking market, thus helping them to achieve higher business competitiveness.

Date: 2013
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DOI: 10.1080/1331677X.2013.11517593

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