Abstract
We analyze the direct photon production in e+e collisions in quantum chromodynamics using the cut-vertex formalism and the renormalization-group method. The two-loop anomalous dimensions of timelike cut vertices are calculated from the two-loop parton decay probability functions. The moments of the transverse structure function W¯γT are calculated up to the next-to-leading order. The nonleading corrections to W¯γT turn out to be large, and even larger than those to the photon structure function Fγ2 in photon-photon scattering. Also, the moments of the longitudinal structure function W¯γL are calculated in the leading order. The corrections are found to be small.