Come Together: Firm Boundaries and Delegation

Abstract We jointly study firm boundaries and the allocation of decision rights within them by confronting an incomplete-contracts model with data on vertical integration and delegation for thousands of firms around the world. Integration has an option value: it confers authority to delegate or cent...

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Veröffentlicht in:Journal of the European Economic Association 2024-02, Vol.22 (1), p.34-72
Hauptverfasser: Alfaro, Laura, Bloom, Nick, Conconi, Paola, Fadinger, Harald, Legros, Patrick, Newman, Andrew F, Sadun, Raffaella, Van Reenen, John
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Sprache:eng
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