| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11424 |
| 来源ID | Working Paper 11424 |
| Determinants of Vertical Integration: Finance, Contracts, and Regulation | |
| Daron Acemoglu; Simon Johnson; Todd Mitton | |
| 发表日期 | 2005-06-20 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We study the determinants of vertical integration in a new dataset of over 750,000 firms from 93 countries. Existing evidence suggests the presence of large cross-country differences in the organization of firms, which may be related to differences in financial development, contracting costs or regulation. We find cross-country correlations between vertical integration on the one hand and financial development, contracting costs, and entry barriers on the other that are consistent with these "priors". Nevertheless, we also show that these correlations are almost entirely driven by industrial composition; countries with more limited financial development, higher contracting costs or greater entry barriers are concentrated in industries with a high propensity for vertical integration. Once we control for differences in industrial composition, none of these factors are correlated with average vertical integration. However, we also find a relatively robust differential effect of financial development across industries; countries with less-developed financial markets are significantly more integrated in industries that are more human capital or technology intensive. |
| 主题 | Financial Economics ; Corporate Finance ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w11424 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569067 |
| 推荐引用方式 GB/T 7714 | Daron Acemoglu,Simon Johnson,Todd Mitton. Determinants of Vertical Integration: Finance, Contracts, and Regulation. 2005. |
| 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 | ||
| w11424.pdf（561KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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