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Determinants of Firm Boundaries : Empirical Analysis of the Japanese Auto Industry from 1984 to 2002 Preview this item
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Determinants of Firm Boundaries : Empirical Analysis of the Japanese Auto Industry from 1984 to 2002

Author: Sadao Nagaoka; Akira Takeishi; Yoshihisa Noro
Publisher: Cambridge, Mass. National Bureau of Economic Research 2007.
Series: Working paper series (National Bureau of Economic Research), no. w13063.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
We have assessed the determinants of the choice of integration, relational contracting (keiretsu sourcing) and market sourcing by seven Japanese automobile manufacturers (OEMs) with respect to 54 components in light of contract economics. Our major findings are the following. First, the specificity and interdependency of a component significantly promotes vertical integration over keiretsu and keiretsu over market,  Read more...
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Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Sadao Nagaoka; Akira Takeishi; Yoshihisa Noro
OCLC Number: 1027280014
Notes: April 2007.
Description: 1 online resource.
Details: Mode of access: World Wide Web.
Series Title: Working paper series (National Bureau of Economic Research), no. w13063.
Responsibility: Sadao Nagaoka, Akira Takeishi, Yoshihisa Noro.

Abstract:

We have assessed the determinants of the choice of integration, relational contracting (keiretsu sourcing) and market sourcing by seven Japanese automobile manufacturers (OEMs) with respect to 54 components in light of contract economics. Our major findings are the following. First, the specificity and interdependency of a component significantly promotes vertical integration over keiretsu and keiretsu over market, consistent with transaction cost economics. Second, interdependency is a more important consideration for the former choice than for the latter choice, and the reverse is the case for specificity. This suggests that the hold-up risk due to specific investment can be often effectively controlled by a relational contracting based on keiretsu sourcing, while accommodating non-contractible design changes may often require vertical integration. Third, while higher testability of a component makes the effects of specificity significantly smaller, it also promotes the choice of keiretsu sourcing over market sourcing. One interpretation of this last result is that while higher testability improves the contractibility of the component with high specificity, it simultaneously enhances the advantage of keiretsu sourcing since it provides more opportunities for the supplier to explore new information for a collaborative exploitation with an OEM.

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Primary Entity<\/h3>\n
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Our major findings are the following. First, the specificity and interdependency of a component significantly promotes vertical integration over keiretsu and keiretsu over market, consistent with transaction cost economics. Second, interdependency is a more important consideration for the former choice than for the latter choice, and the reverse is the case for specificity. This suggests that the hold-up risk due to specific investment can be often effectively controlled by a relational contracting based on keiretsu sourcing, while accommodating non-contractible design changes may often require vertical integration. Third, while higher testability of a component makes the effects of specificity significantly smaller, it also promotes the choice of keiretsu sourcing over market sourcing. One interpretation of this last result is that while higher testability improves the contractibility of the component with high specificity, it simultaneously enhances the advantage of keiretsu sourcing since it provides more opportunities for the supplier to explore new information for a collaborative exploitation with an OEM.<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:exampleOfWork<\/a> <http:\/\/worldcat.org\/entity\/work\/id\/103883012<\/a>> ;\u00A0\u00A0\u00A0\nschema:inLanguage<\/a> \"en<\/span>\" ;\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Series\/working_paper_series_national_bureau_of_economic_research<\/a>> ; # Working paper series (National Bureau of Economic Research) ;<\/span>\n\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Series\/nber_working_paper_series<\/a>> ; # NBER working paper series<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Determinants of Firm Boundaries Empirical Analysis of the Japanese Auto Industry from 1984 to 2002<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:productID<\/a> \"1027280014<\/span>\" ;\u00A0\u00A0\u00A0\nschema:publication<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/1027280014#PublicationEvent\/cambridge_mass_national_bureau_of_economic_research2007<\/a>> ;\u00A0\u00A0\u00A0\nschema:publisher<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Agent\/national_bureau_of_economic_research<\/a>> ; # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/papers.nber.org\/papers\/w13063<\/a>> ;\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/www.nber.org\/papers\/w13063<\/a>> ;\u00A0\u00A0\u00A0\nwdrs:describedby<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/1027280014<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

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<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Person\/takeishi_akira<\/a>> # Akira Takeishi<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Takeishi<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Akira<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Akira Takeishi<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Place\/cambridge_mass<\/a>> # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Cambridge, Mass.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Place\/japan<\/a>> # Japan.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Japan.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Series\/nber_working_paper_series<\/a>> # NBER working paper series<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/1027280014<\/a>> ; # Determinants of Firm Boundaries Empirical Analysis of the Japanese Auto Industry from 1984 to 2002<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"NBER working paper series<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
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<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Topic\/automobile_industry_and_trade_mathematical_models<\/a>> # Automobile industry and trade--Mathematical models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Automobile industry and trade--Mathematical models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Topic\/d23_organizational_behavior_transaction_costs_property_rights<\/a>> # D23 - Organizational Behavior; Transaction Costs; Property Rights<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"D23 - Organizational Behavior; Transaction Costs; Property Rights<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Topic\/l23_organization_of_production<\/a>> # L23 - Organization of Production<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"L23 - Organization of Production<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Topic\/l24_contracting_out_joint_ventures_technology_licensing<\/a>> # L24 - Contracting Out; Joint Ventures; Technology Licensing<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"L24 - Contracting Out; Joint Ventures; Technology Licensing<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
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<http:\/\/www.worldcat.org\/title\/-\/oclc\/1027280014#PublicationEvent\/cambridge_mass_national_bureau_of_economic_research2007<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:PublicationEvent<\/a> ;\u00A0\u00A0\u00A0\nschema:location<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Place\/cambridge_mass<\/a>> ; # Cambridge, Mass.<\/span>\n\u00A0\u00A0\u00A0\nschema:organizer<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/103883012#Agent\/national_bureau_of_economic_research<\/a>> ; # National Bureau of Economic Research<\/span>\n\u00A0\u00A0\u00A0\nschema:startDate<\/a> \"2007<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Content-negotiable representations<\/p>\n