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Supply Chain Risk : Changes in Supplier Composition and Vertical Integration

Ersahin, Nuri; Giannetti, Mariassunta; Huang, Ruidi - National Bureau of Economic Research - 2023

Using textual analysis of earnings conference calls, we quantify firms' supply chain risk and its sources. Our proxy for supply chain risk exhibits large cross-sectional and time-series variation that aligns with reasonable priors and is unprecedently high during the Covid-19 pandemic. In...

Persistent link: https://www.econbiz.de/10014250152

United States Steel's Acquisition of the Great Northern Ore Properties : Vertical Foreclosure or Efficient Contractual Governance?

Mullin, Joseph C. - 1996

qualitative evidence to support an alternative view that the lease generated a net efficiency gain, resulting in lower steel …

Persistent link: https://www.econbiz.de/10012473180

Evidence for the Effects of Mergers on Market Power and Efficiency

Blonigen, Bruce A. - 2016

-level productivity. We also examine whether M&As increase efficiency through reallocation of production to more efficient plants or …

Persistent link: https://www.econbiz.de/10012455930

Do Mergers and Acquisitions Improve Efficiency? Evidence from Power Plants

Demirer, Mert; Karaduman, Ömer - National Bureau of Economic Research - 2024

effects of acquisitions on efficiency and underlying mechanisms. We find a 2% average increase in efficiency for acquired … plants, beginning five months after acquisitions. Efficiency gains rise to 5% under direct ownership changes, with no … significant change when only parent ownership changes. Investigating the mechanisms, three-quarters of the efficiency gain is …

Persistent link: https://www.econbiz.de/10014635690

Resilience in Vertical Supply Chains

Grossman, Gene M.; Helpman, Elhanan; Sabal, Alejandro - National Bureau of Economic Research - 2023

Forward-looking investments determine the resilience of firms' supply chains. Such investments confer externalities on other firms in the production network. We compare the equilibrium and optimal allocations in a general equilibrium model with an arbitrary number of vertical production tiers....

Persistent link: https://www.econbiz.de/10014372496

Concentrating Intelligence : Scaling and Market Structure in Artificial Intelligence

Korinek, Anton; Vipra, Jai - National Bureau of Economic Research - 2024

This paper examines the evolving structure and competition dynamics of the rapidly growing market for foundation models, with a focus on large language models (LLMs). We describe the technological characteristics that shape the AI industry and have given rise to fierce competition among the...

Persistent link: https://www.econbiz.de/10015145090

Come together: firm boundaries and delegation

Alfaro, Laura; Bloom, Nicholas; Conconi, Paola; … - 2018

Little is known theoretically, and even less empirically, about the relationship between firm boundaries and the allocation of decision rights within firms. We develop a model in which firms choose which suppliers to integrate and whether to delegate decisions to integrated suppliers. We test...

Persistent link: https://www.econbiz.de/10011895830

Determinants of Vertical Integration : Finance, Contracts, and Regulation

Acemoglu, Daron; Johnson, Simon; Mitton, Todd - 2005

We study the determinants of vertical integration in a new dataset of over 750,000 firms from 93 countries. Existing evidence suggests the presence of large cross-country differences in the organization of firms, which may be related to differences in financial development, contracting costs or...

Persistent link: https://www.econbiz.de/10012467255

Hospital Integration and Vertical Consolidation : An Analysis of Acquisitions in New York State

Huckman, Robert S. - 2005

While prior studies tend to view hospital integration through the lens of horizontal consolidation, I provide an analysis of its vertical aspects. I examine the effect of hospital acquisitions in New York State on the distribution of market share for major cardiac procedures across providers in...

Persistent link: https://www.econbiz.de/10012467304

Vertical Integration and Technology : Theory and Evidence

Acemoglu, Daron - 2004

This paper investigates the determinants of vertical integration using data from the UK manufacturing sector. We find that the relationship between a downstream (producer) industry and an upstream (supplier) industry is more likely to be vertically integrated when the producing industry is more...

Persistent link: https://www.econbiz.de/10012467690