By engaging in specific investments a firm may develop a unique competence value for its partner, which makes the partners mutually dependent. This may neutralize any hold-up risk of an opportunistic partner that is tempted to exploit the dependence and appropriate a greater share of the value...

Alfred Chandler attributed the rise of the vertically integrated corporation in the twentieth century to improvements in transportation and communication. In contrast, many have argued that further advances in transportation and communication have made vertical integration obsolete in recent...

Alfred Chandler attributed the rise of the vertically integrated corporation in the twentieth century to improvements in transportation and communication. In contrast, many have argued that further advances in transportation and communication have made vertical integration obsolete in recent...