Vertical integration in production and services: development in transaction cost economics

In this paper, we first establish the core, fundamental concepts of Williamson's TCE, examining the different governance structures or the institutional alternatives that TCE theory proposes. We go on to describe some critical considerations and theoretical proposals that correspond fundamentally to Williamson's heuristic model, the integration of incentives in organizational forms, idiosyncratic demand, and how the concept of transaction is conceived in general.Peris-Ortiz, M.; Bonet, F.; Rueda Armengot, C. (2011). Vertical integration in production and services: development in transaction cost economics. Service Business. 5(1):87-97. doi:10.1007/s11628-011-0103-0S879751Alchian A (1965) The basic of some recent advances in the theory of management of the firm. J Ind Econ 14:30–41Alchian A (1969) Corporate management and property rights. In: Manne GH (ed) Economic Policy and Regulation of Corporate Securities. 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Business networks and localization effects for new Swedish technology-based firms’ innovation performance

This study examines the business networks and localization effects for new technology-based firms (NTBFs) in the context of innovation performance (the number of patents and product differentiation). In this regard, the study includes 28 variables. A survey was conducted in 2016 with 401 Swedish NTBFs that were small and young (the employment mean was 1.80 and the average age of each firm was 28.3\ua0months). The biggest category of NTBFs was knowledge-intensive high-technology services, followed by medium high-technology manufacturing, and high-technology manufacturing. Hypotheses on how business networks and localization are related to innovation performance were tested using principal component analysis, correlation analysis, and regression analysis. The results show that the primary significant factor for innovation performance regarding business networks and localization dimensions are professional network services, while industrial and regional areas also have a positive relationship on product differentiation. Our study also shows that innovation performance enhances firms’ abilities to access external financing through professional network services (e.g., venture capital companies)

A Longitudinal Analysis of University Rankings

Pressured by globalization and the increasing demand for public organisations to be accountable, efficient and transparent, university rankings have become an important tool for assessing the quality of higher education institutions. It is therefore important to carefully assess exactly what these rankings measure. In this paper, the three major global university rankings, The Academic Ranking of World Universities, The Times Higher Education and the Quacquarelli Symonds World University Rankings, are studied. After a description of the ranking methodologies, it is shown that university rankings are stable over time but that there is variation between the three rankings. Furthermore, using Principal Component Analysis and Exploratory Factor Analysis, we show that the variables used to construct the rankings primarily measure two underlying factors: a universities reputation and its research performance. By correlating these factors and plotting regional aggregates of universities on the two factors, differences between the rankings are made visible. Last, we elaborate how the results from these analysis can be viewed in light of often voiced critiques of the ranking process. This indicates that the variables used by the rankings might not capture the concepts they claim to measure. Doing so the study provides evidence of the ambiguous nature of university ranking's quantification of university performance