G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w19727
来源IDWorking Paper 19727
Employee Spinouts, Social Networks, and Family Firms
James E. Rauch
发表日期2013-12-12
出版年2013
语种英语
摘要Recently collected data show that, within any manufacturing industry, vertically integrated firms tend to have larger, higher productivity plants, account for the bulk of sales, and also sell externally most of the inputs they produce. In a weak contracting environment characteristic of developing countries, vertically integrated firms are vulnerable to employee "spinouts": managers of input divisions can start their own firms, making customized inputs formerly provided internally subject to hold-up and capturing the profits formerly made from external sales of generic inputs. This vulnerability is shown to lead to inefficiently low entry. Vertically integrated firms can fight back by hiring managers for their input divisions who are members of networks that informally sanction hold-ups or children who keep profits "in the family" even if they spin out. This is shown to predict the association of co-ethnic networks with high rates of entrepreneurship and the prominence of family-owned business groups in developing country manufacturing.
主题Industrial Organization ; Market Structure and Firm Performance ; Firm Behavior
URLhttps://www.nber.org/papers/w19727
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/577401
推荐引用方式
GB/T 7714
James E. Rauch. Employee Spinouts, Social Networks, and Family Firms. 2013.
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