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来源类型Working Paper
规范类型报告
DOI10.3386/w9719
来源IDWorking Paper 9719
Specialization, Firms, and Markets: The Division of Labor Within and Between Law Firms
Luis Garicano; Thomas N. Hubbard
发表日期2003-05-26
出版年2003
语种英语
摘要What is the role of firms and markets in mediating the division of labor? This paper uses confidential microdata from the Census of Services to examine law firms' boundaries. We find that firms' field scope narrows as market size increases and individuals specialize, indicating that firms' boundaries reflect organizational trade-offs. Moreover, we find that whether the division of labor is mediated by firms differs systematically according to whether lawyers in a particular field are mainly involved in structuring transactions or in dispute resolution. Our evidence is consistent with hypotheses in which firms' boundaries reflect variation in the value of knowledge-sharing or in the costs of monitoring, but not in risk-sharing. Our findings show how the incentive trade-offs associated with exploiting increasing returns from specialization lead the structure of the industry to be fragmented, but highly-skewed.
主题Industrial Organization ; Market Structure and Firm Performance
URLhttps://www.nber.org/papers/w9719
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/567343
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Luis Garicano,Thomas N. Hubbard. Specialization, Firms, and Markets: The Division of Labor Within and Between Law Firms. 2003.
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