Notice of RetractionA study of the formative causation and operating mechanism of industry cluster: Based on the perspective of transaction cost theory

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Industry cluster may be defined very generally as a group of firms in which each member´s competitive success depends on one, some, or all other members of the group. This paper discusses the formative causation and operating mechanism of industry cluster based on the perspective of transaction cost theory. It argues that industry cluster as a range of institutional arrangement and organizational form between corporation and market, its existence and development can be explained by transaction cost theory. The emergence and growth of industry cluster is essentially a sort of innovation of inter-firm transaction or contact, which is necessary for saving transaction cost. In other words, it is a new system form that can effectively reduce transaction cost.