Transaction cost economics has been applied to a wide range of research areas ; however, the definition of transaction specific asset (TSA) has been overlooked. Content analysis of previous research suggests seven dimensions (specificity, magnitude, durability, utility, importance, risk, and visibility) and six types (site, human, physical, dedicated, brand name, and temporal assets) of TSAs. An empirical examination (using confirmatory factor analysis) performed on the data from a sample of 361 manufacturers in SIC 367 (from U. S. A.) confirms the multidimensionality of the TSA construct.