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The effect of firm count on the extent of vertical integration: An empirical investigation of the inorganic chemical industry.

机译：企业数量对垂直整合程度的影响：无机化学工业的实证研究。

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摘要

This research tests Oliver Williamson's contention that supplier firm count affects a plant's extent of vertical integration. The alternative is Stigler's hypothesis that the extent of downstream demand determines the extent of integration, with the largest plants specializing production in the upstream market. Williamson counters that fear of opportunism due to a small firm count determines the extent of integration. The lack of a consistent vertical integration measure and detailed aggregated data limited efforts to measure the effect of firm count.; A consistent quantity based measure of vertical integration was constructed using disaggregated homogeneous product data from the inorganic chemical industry collected by the Census Bureau. This measure is a ratio of quantity consumed divided by total plant output (outside shipments plus internal consumption). To control for other causes of vertical integration, several fixed-effects models are tested using a variety of variables that measure for plant rents subject to opportunism, product economies of scope, and economies of scale. Several non-linear models test for differences in behavior by the largest and smallest plants.; Results indicate firm count has a negative effect on the extent of vertical integration, after controlling for other causes for vertical integration. These results were consistently significant. The results of the size dummies did support Stigler's hypothesis that the largest producers tend to specialize. However, the results were consistent across all products studied in that the smallest plants specialized.; Low firm count for a particular product forces a firm to hedge against the threat of opportunism. Given that the results imply that only the smallest plants and producers tended to specialize, this supports a theory that small fringe producers supply large integrated plants during times of high downstream demand.
机译：这项研究检验了奥利弗·威廉姆森（Oliver Williamson）关于供应商公司数量影响工厂垂直整合程度的观点。另一种选择是斯蒂格勒的假设，即下游需求的程度决定了整合的程度，而最大的工厂则专门从事上游市场的生产。威廉姆森反驳说，由于公司数量少，对机会主义的恐惧决定了整合的程度。缺乏一致的垂直整合指标和详细的汇总数据，限制了衡量公司数量影响的努力。使用人口普查局收集的无机化工行业的同类均质产品数据，构建了基于数量的垂直整合度量。该度量是消耗量除以工厂总产量（外部装运量加上内部消耗量）的比率。为了控制垂直整合的其他原因，使用各种变量对几种固定效应模型进行了测试，这些变量衡量了机会主义，产品范围经济和规模经济的工厂租金。几个非线性模型测试最大和最小工厂的行为差异。结果表明，在控制了其他导致垂直整合的原因之后，公司数量会对垂直整合的程度产生负面影响。这些结果始终是重要的。大小假人的结果确实支持了斯蒂格勒的假设，即最大的生产者倾向于专门生产。但是，在最小的专门工厂中，所研究的所有产品的结果都是一致的。特定产品的低公司数量迫使公司对冲机会主义威胁。鉴于结果暗示只有最小的工厂和生产者趋向于专业化，因此这支持了一种理论，即小型边缘生产者在下游需求旺盛时为大型综合工厂提供产品。

著录项

  • 作者

    Dufresne, Christian C.;

  • 作者单位

    Clark University.;

  • 授予单位 Clark University.;
  • 学科 Economics General.; Economics Commerce-Business.
  • 学位 Ph.D.
  • 年度 1997
  • 页码 145 p.
  • 总页数 145
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;贸易经济;
  • 关键词

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