本文係以交易成本觀點為基礎，提出一個研究架構，說明網路特性會同時影響交易成本之降低與網路行銷效益的產生，而交易成本之降低亦會直接影響網路行銷效益。本研究以台灣中小企業為對象，實證網路特性、交易成本、與網路行銷效益之關係。根據95家台灣中小企業的實證資料，本研究以迴歸分析及LISREL來驗證上述模式之關係。 本研究的實證結果發現，網路特性可以分為便捷性、客製性、與認證性等三個構面，交易成本則可分為交易前成本、交易中成本、及交易後成本等三項，而網路行銷效益則可分為產品效益、價格效益、通路效益、推廣效益、及顧客效益等五項。實證結果則大部份支持本文的研究假設，即網路的不同特性對交易前、交易中、及交易後成本之降低有顯著影響；在網路商務上交易前、交易中、及交易後成本之降低，分別對網路行銷之各種行銷效益有顯著影響；網際網路之不同特性分別對網路行銷之各種行銷效益也有顯著影響；而交易成本之降低在網路不同特性與各種網路行銷效益問具有中介效果。最後本文提出研究限制、管理啟示與未來研究建議。

In this article, a transaction cost perspective is applied to create a research framework to describe the relationships among the Internet characteristics, transaction cost, and marketing effects of the Internet. Regression analysis and LISREL are used to test the hypotheses proposed in the model. From an empirical study of95 Taiwan's small & medium enterprises, we found that there exist three dimensions regarding to the Internet characteristics, i. e. convenience, customization, and certification. The transaction cost concerning the Internet commerce includes three types, I. e. before-transaction cost, through-transaction cost, and after-transaction cost. The effects of the Internet marketing can be divided into five streams, i. e. product effect, price effect, channel effect, promotion effect, and customer effect. The results showed that all our hypotheses of the study have been mostly supported. It means that the different characteristics of the Internet have significant influences on both transaction cost and effects of the Internet marketing and transaction cost has significant influences on the effects of the Internet marketing as well. Besides, transaction cost in this research shows an intermediate effect between the characteristics of the Internet and its marketing effects. Lastly, we discussed the management implications and limitations of the research. A few suggestions are provided for future researches as well.