期刊
JOURNAL OF ECONOMICS & MANAGEMENT STRATEGY
卷 26, 期 2, 页码 403-428出版社
WILEY
DOI: 10.1111/jems.12191
关键词
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This paper uses three cross-industry datasets from China and other developing countries to study the effect of vertical integration on firm productivity. Our findings suggest that vertical integration has a negative impact on productivity, in contrast to recent studies based on U.S. firms. We argue that in settings with poor corporate governance, vertical integration reduces firm productivity because it enables inefficient rent-seeking by insiders.
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