VERTICAL INTEGRATION IN THE U.S. A Note on the Influence of Transaction Scott
نویسندگان
چکیده
Recent relinements in the theory of the firm suggest that organization form may be sensitive not only to the rlegree to which assets are specific to a transaction but afso to the type of capital employed. This paper reports evidence regarding the relative influence of transaction-specilic investments in physical and human capital on the pattern of vertical integration using new data obtained directly from U.S. auto manufacturers. The results support the proposition that investments in specialized technical know-how have a stronger infiuence than those in specialized physical capital on the decision to integrate production within the firm.
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