We investigate inter-industry variation in the relative incidence of advertisers' utilization of in-house rather than independent advertising agencies. To account for this variability, we develop a set of hypotheses drawing on two perspectives that figure prominently in the literature on...

The common perception appears to be that vertical integration of advertising services is more the exception than the rule in the U.S. advertising industry. This study investigates the extent of such outsourcing and examines inter-industry variation in the use of in-house rather than independent...

The standard solutions to agency, incentive contracting and monitoring, are degraded by the frequency and the duration of the decisions affected. Decisions of low frequency and long duration are not effectively controlled by either monitoring or incentive contracting. For decisions of low...

The common perception appears to be that vertical integration of advertising services is more the exception than the rule in the U.S. advertising industry. This study investigates the extent of such outsourcing and examines inter-industry variation in the use of in-house rather than independent...

We develop a subjectivist theory of entrepreneurship that focuses on individuals, their knowledge, resources and skills, and the processes of discovery and creativity, which constitute the heart of entrepreneurship. First, we establish the fundamental importance of subjectivity in...