81.   The strategy is driven in part by the lower transaction costs offered by the World Wide Web.

82.   The Web promises not only to reduce corporate transaction costs but also to enhance customer convenience.

83.   The transaction costs were too high and there were too many conflicting systems.

84.   There are no transaction costs.

85.   These include higher transaction costs, currency risks, onerous tax treatments for investing abroad and the difficulty in gathering reliable information about foreign companies.

86.   These transaction costs can make such happy deals difficult, though certainly not impossible.

87.   They exclude sales charges and transaction costs, and because most retirement money is held in tax-deferred accounts, the effects of taxes are excluded.

88.   This should, in turn, lower transaction costs and change company boundaries.

89.   This avoids transaction costs and exchange-rate risk.

90.   Transaction costs are also lower.