28,323 research outputs found
Vertical integration and firm boundaries : the evidence
Since Ronald H. Coase's (1937) seminal paper, a rich set of theories has been developed that deal with firm boundaries in vertical or inputâoutput structures. In the last twenty-five years, empirical evidence that can shed light on those theories also has been accumulating. We review the findings of empirical studies that have addressed two main interrelated questions: First, what types of transactions are best brought within the firm and, second, what are the consequences of vertical integration decisions for economic outcomes such as prices, quantities, investment, and profits. Throughout, we highlight areas of potential cross-fertilization and promising areas for future work
ADAPTS: An Intelligent Sustainable Conceptual Framework for Engineering Projects
This paper presents a conceptual framework for the optimization of environmental sustainability in engineering projects, both for products and industrial facilities or processes. The main objective of this work is to propose a conceptual framework to help researchers to approach optimization under the criteria of sustainability of engineering projects, making use of current Machine Learning techniques. For the development of this conceptual framework, a bibliographic search has been carried out on the Web of Science. From the selected documents and through a hermeneutic procedure the texts have been analyzed and the conceptual framework has been carried out. A graphic representation pyramid shape is shown to clearly define the variables of the proposed conceptual framework and their relationships. The conceptual framework consists of 5 dimensions; its acronym is ADAPTS. In the base are: (1) the Application to which it is intended, (2) the available DAta, (3) the APproach under which it is operated, and (4) the machine learning Tool used. At the top of the pyramid, (5) the necessary Sensing. A study case is proposed to show its applicability. This work is part of a broader line of research, in terms of optimization under sustainability criteria.TelefĂłnica Chair âIntelligence in Networksâ of the University of Seville (Spain
Evolution of Supply Chain Collaboration: Implications for the Role of Knowledge
Increasingly, research across many disciplines has recognized the shortcomings of the traditional âintegration prescriptionâ for inter-organizational knowledge management. This research conducts several simulation experiments to study the effects of different rates of product change, different demand environments, and different economies of scale on the level of integration between firms at different levels in the supply chain. The underlying paradigm shifts from a static, steady state view to a dynamic, complex adaptive systems and knowledge-based view of supply chain networks. Several research propositions are presented that use the role of knowledge in the supply chain to provide predictive power for how supply chain collaborations or integration should evolve. Suggestions and implications are suggested for managerial and research purposes
Capturing industrial CO2 emissions in Spain: Infrastructures, costs and break-even prices
This paper examines the conditions for the deployment of large-scale pipeline and storage infrastructure needed for the capture of CO2 in Spain by 2040. It details a modeling framework that allows us to determine the optimal infrastructure needed to connect a geographically disaggregated set of emitting and storage clusters, along with the threshold CO2 values necessary to ensure that the considered emitters will make the necessary investment decisions. This framework is used to assess the relevance of various policy scenarios, including (i) the perimeter of the targeted emitters for a CCS uptake, and (ii) the relevance of constructing several regional networks instead of a single grid to account for the spatial characteristics of the Spanish peninsula. We find that three networks naturally emerge in the north, center and south of Spain. Moreover, the necessary CO2 break-even price critically depends on the presence of power stations in the capture perimeter. Policy implications of these findings concern the elaboration of relevant, pragmatic recommendations to envisage CCS deployment locally, focusing on emitters with lower substitution options toward low-carbon alternatives
Value-at-risk of carbon constraints : an input oriented approach of resource scarcity
The purpose of this study is to broaden the discussion on corporate enviromental risk exposure by integrating an oil scarcity factor. This broader approach can be utilized as a means of instigating a discussion on carbon risks beyond output oriented adaption and mitigation strategies. Even though the outcomes might not seem to be relevant for current economic activities, the recent discussion about oil prices affecting the global economy illustrates the future relevance of this topic; it is just a matter of time before risks related to future oil supply and endowment will emerge. --
Vertical Integration and Firm Boundaries : The Evidence
Understanding what determines firm boundaries and the choice between interacting in a firm or a market is not only the fundamental concern of the theory of the firm, but it is also one of the most important issues in economics. Data on value added, for example, reveal that in the US, transactions that occur in firms are roughly equal in value to those that occur in markets. The economics profession, however, has devoted much more attention to the workings of markets than to the study of firms, and even less attention to the interface between the two. Nevertheless, since Coaseâs (1937) seminal paper on the subject, a rich set of theories has been developed that deal with firm boundaries in vertical or input/output structures. Furthermore, in the last 25 years, empirical evidence that can shed light on those theories has been accumulating.Vertical integration ; firm boundaries ; vertical mergers ; firms versus markets
Recommended from our members
Commodities and Linkages: Industrialisation in Sub-Saharan Africa
In a complementary Discussion Paper (MMCP DP 12 2011) we set out the reasons why we believe that there is extensive scope for linkage development into and out of SSAâs commodities sectors. In this Discussion Paper, we present the findings of our detailed empirical enquiry into the determinants of the breadth and depth of linkages in eight SSA countries (Angola, Botswana, Gabon, Ghana, Nigeria, South Africa Tanzania, and Zambia) and six sectors (copper, diamonds, gold, oil and gas, mining services and timber). We conclude from this detailed research that the extent of linkages varies as a consequence of four factors which intrinsically affect their progress â the passage of time, the complexity of the sector and the level of capabilities in the domestic economy. However, beyond this we identify three sets of related factors which determined the nature and pace of linkage development. The first is the structure of ownership, both in lead commodity producing firms and in their suppliers and domestic customers. The second is the nature and quality of both hard infrastructure (for example, roads and ports) and soft infrastructure (for example, the efficiency of customs clearance). The third is the availability of skills and the structure and orientation of the National System of Innovation in the domestic economy. The fourth, and overwhelmingly important contextual factor is policy. This reflects policy towards the commodity sector itself, and policy which affects the three contextual drivers, namely ownership, infrastructure and capabilities. As a result of this comparative analysis we provided an explanation of why linkage development was progressive in some economies (such as Botswana) and regressive in others (such as Tanzania). This cluster of factors also explains why the breadth and depth of linkages is relative advanced in some countries (such as South Africa), and at a very nascent stage in other countries (such as Angola)
- âŠ