of vertical integration and delegation for a large set of firms from many countries and industries. In line with the … model's predictions, we obtain three main results: (i) integration and delegation co-vary positively; (ii) producers are … more likely to integrate suppliers in input sectors with greater productivity variation (as the option value of integration …

of vertical integration and delegation for a large set of firms from many countries and industries. In line with the … model's predictions, we obtain three main results: (i) integration and delegation co-vary positively; (ii) producers are … more likely to integrate suppliers in input sectors with greater productivity variation (as the option value of integration …

them. Integration has an option value: it gives firm owners authority to delegate or centralize decision rights, depending … evidence, we construct measures of vertical integration and delegation for thousands of firms in different countries and … both integration and delegation choices …

of vertical integration and delegation for a large set of firms from many countries and industries. In line with the … model’s predictions, we obtain three main results: (i) integration and delegation co-vary positively; (ii) producers are … more likely to integrate suppliers in input sectors with greater productivity variation (as the option value of integration …