VERTICAL INTEGRATION AND DISTANCE TO FRONTIER
成果类型：
Article
署名作者：
Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio
署名单位：
Massachusetts Institute of Technology (MIT); Harvard University; University of London; University College London
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/154247603322391260
发表日期：
2003
页码：
630-638
关键词：
摘要：
We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and discourages innovation. Outsourcing of some production activities mitigates the managerial overload, but creates a holdup problem, causing some of the rents of the owners to be dissipated to the supplier. Far from the technology frontier, imitation activities are more important, and vertical integration is preferred. Closer to the frontier, the value of innovation increases, encouraging outsourcing. (JEL: L22, O31, O33, O38, O40, L16)
来源URL：