| 纵向一体化对专用性投资的治理效果存在产业差异吗？ |
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| 引用本文： | 于茂荐.纵向一体化对专用性投资的治理效果存在产业差异吗？[J].浙江省政法管理干部学院学报,2014,0(4):82-89. |
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| 作者姓名： | 于茂荐 |
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| 作者单位： | 上海理工大学管理学院,上海200093 |
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| 基金项目： | 上海高校青年教师培养资助计划（slg12012）;上海理工大学人文社会科学资助项目（13XSY12） |
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| 摘 要： | 为了探究不同技术投入产业中,纵向一体化对于专用性投资的治理效率是否存在差异,选取了2009-2011年制造业上市公司数据加以验证.研究结论表明,纵向一体化对专用性投资的治理效果存在明显的产业差异,在低技术投入的产业中,更适合采用纵向一体化模式.研究深化了交易成本理论对于治理结构选择的认识,为已深入嵌入全球价值链的我国企业进行专用性投资治理机制选择提供实践借鉴.
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| 关 键 词： | 专用性投资 纵向一体化 产业技术投入 |
Does Vertical Integration Have Different Industrial Effects on the Results of the Governance of Technology Investment？ |
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| YU Mao-jian.Does Vertical Integration Have Different Industrial Effects on the Results of the Governance of Technology Investment？[J].Journal of Zhejiang Gongshang University,2014,0(4):82-89. |
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| Authors: | YU Mao-jian |
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| Affiliation: | YU Mao-jian ( School of Business Administration , Shanghai University of Science and Technology, Shanghai 200093, China) |
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| Abstract: | Transaction cost economics （TCE） has guided a variety of research on governance in the strategic management literature. An important question arises, however, as to whether the TCE framework is equally appropriate in all industry settings. This article proposes that vertical integration will have different governance efficiency for specific assets in different industries. The vertical integration is more efficient in industry of lower technological input. Data from Chinese A share listed manufacturing firms during 2007-2009 provide support for our hypotheses that transaction cost factors are better at explaining in- tegration and specific assets for firms in low technological input industry than for firms in high technological input industry. Our result indicates when we use TCE framework explain integration decisions, we must augment industry settings. These findings also have profound practical implications. |
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| Keywords: | specific assets vertical integration Industrial technology investment |
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