全球智库信息集成服务系统(G2TT): Business Groups as Hierarchies of Firms: Determinants of Vertical Integration and Performance

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Business Groups as Hierarchies of Firms: Determinants of Vertical Integration and Performance
	Carlo Altomonte; Armando Rungi
发表日期	2013
出处	Economy and Society
出版年	2013
语种	英语
摘要	We explore the nature of Business Groups, that is network-like forms of hierarchical organization between legally autonomous firms spanning both within and across national borders. Exploiting a unique dataset of 270,474 headquarters controlling more than 1,500,000 (domestic and foreign) affiliates in all countries worldwide, we find that business groups account for a significant part of value-added generation in both developed and developing countries, with a prevalence in the latter. In order to characterize their boundaries, we distinguish between an affiliate vs. a group-level index of vertical integration, as well as an entropy-like metric able to summarize the hierarchical complexity of a group and its trade-off between exploitation of knowledge as an input across the hierarchy and the associated communication costs. We relate these metrics to host country institutional characteristics, as well as to the performance of affiliates across business groups. Conditional on institutional quality, a negative correlation exists between vertical integration and organizational complexity in defining the boundaries of business groups. We also find a robust (albeit non-linear) positive relationship between a group's organizational complexity and productivity which dominates the already known correlation between vertical integration and productivity. Results are in line with the theoretical framework of knowledge-based hierarchies developed by the literature, in which intangible assets are a complementary input in the production processes.
特色分类	F23;L22;L23;L25;D24;G34
关键词	Production Chains Hierarchies Business Groups Financial Development Property Rights Vertical Integration Corporate Ownership Organization of Production Productivity
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/business-groups-as-hierarchies-of-firms-determinants-of-vertical-integration-and-performance/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/118161
推荐引用方式 GB/T 7714	Carlo Altomonte,Armando Rungi. Business Groups as Hierarchies of Firms: Determinants of Vertical Integration and Performance. 2013.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
20134161527331Nota_d（71KB）	智库出版物		限制开放	CC BY-NC-SA	浏览
2013619948114NDL2013（1318KB）	智库出版物		限制开放	CC BY-NC-SA	浏览