Recent years have witnessed an enormous amount of reorganization of the corporate sector in the US and in Europe. This paper examines the role of market competition for this trend in corporate reorganization. We find that at intermediate levels of competition the CEO of the corporation decides...

Presents a new research program that is transforming the study of international trade. Until a few years ago, models of international trade did not recognize the heterogeneity of firms and exporters, and could not provide good explanations of international production networks. Now such models...

Intro -- Contents -- Preface -- Introduction -- 1. Contractual Frictions and Global Sourcing -- 2. The Boundaries of the Multinational Firm: An Empirical Analysis -- 3. Contract Enforcement, Comparative Advantage, and Long-Run Growth -- 4. The Dynamics of Firm-Level Adjustment to Trade...

Globalization has been identified by many experts as a new way firms organize their activities and as the emergence of human capital as the new stakeholder of the firm. This paper surveys recent work which examines the role of trade integration for these changes in corporate organization. More...