메뉴 건너뛰기




Volumn 6, Issue 4, 2000, Pages 345-376

Price uncertainty and vertical integration: An examination of petrochemical firms

Author keywords

D23; L22; Price uncertainty; The petrochemical industry; Vertical integration

Indexed keywords


EID: 0042414034     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0929-1199(00)00006-7     Document Type: Article
Times cited : (37)

References (65)
  • 1
    • 0000430265 scopus 로고
    • The salesperson as outside agent or employee: A transaction cost analysis
    • Anderson E. The salesperson as outside agent or employee: a transaction cost analysis. Marketing Science. 4:1985;234-254.
    • (1985) Marketing Science , vol.4 , pp. 234-254
    • Anderson, E.1
  • 2
    • 0000327209 scopus 로고
    • Integration of the sales force: An empirical examination
    • Anderson E., Schmitten D.C. Integration of the sales force: an empirical examination. Rand Journal of Economics. 15:1984;385-395.
    • (1984) Rand Journal of Economics , vol.15 , pp. 385-395
    • Anderson, E.1    Schmitten, D.C.2
  • 5
    • 0002051920 scopus 로고
    • A theory of rationing by waiting
    • Barzel Y. A theory of rationing by waiting. Journal of Law and Economics. 17:1974;73-95.
    • (1974) Journal of Law and Economics , vol.17 , pp. 73-95
    • Barzel, Y.1
  • 6
    • 85009190636 scopus 로고
    • Vertical integration, tying, and antitrust policy
    • Blair R.D., Kaserman D.L. Vertical integration, tying, and antitrust policy. American Economic Review. 68:1978;397-402.
    • (1978) American Economic Review , vol.68 , pp. 397-402
    • Blair, R.D.1    Kaserman, D.L.2
  • 7
    • 0004176583 scopus 로고
    • Boston: Harvard Business School Press
    • Bower J.L. When Markets Quake. 1986;Harvard Business School Press, Boston.
    • (1986) When Markets Quake
    • Bower, J.L.1
  • 8
    • 84925919692 scopus 로고
    • Vertical integration in competitive markets under uncertainty
    • Carlton D.W. Vertical integration in competitive markets under uncertainty. Journal of Industrial Economics. 27:1979;189-209.
    • (1979) Journal of Industrial Economics , vol.27 , pp. 189-209
    • Carlton, D.W.1
  • 10
    • 84928440119 scopus 로고
    • The theory of allocation and its implications for marketing and industrial structure: Why rationing is efficient
    • Carlton D.W. The theory of allocation and its implications for marketing and industrial structure: why rationing is efficient. Journal of Law and Economics. 34:1991;231-262.
    • (1991) Journal of Law and Economics , vol.34 , pp. 231-262
    • Carlton, D.W.1
  • 14
    • 84979188687 scopus 로고
    • The nature of the firm
    • Coase R.H. The nature of the firm. Economica. 4:1937;386-405.
    • (1937) Economica , vol.4 , pp. 386-405
    • Coase, R.H.1
  • 15
    • 0000520642 scopus 로고
    • Mitigating contractual hazards: Unilateral options and contract length
    • Crocker K.J., Masten S.E. Mitigating contractual hazards: unilateral options and contract length. Rand Journal of Economics. 19:1988;327-343.
    • (1988) Rand Journal of Economics , vol.19 , pp. 327-343
    • Crocker, K.J.1    Masten, S.E.2
  • 16
    • 84881883321 scopus 로고
    • Pretia ex machina? Prices and process in long-term contracts
    • Crocker K.J., Masten S.E. Pretia ex machina? Prices and process in long-term contracts. Journal of Law and Economics. 34:1991;69-99.
    • (1991) Journal of Law and Economics , vol.34 , pp. 69-99
    • Crocker, K.J.1    Masten, S.E.2
  • 18
    • 0038925070 scopus 로고
    • Price adjustment in long-term contracts
    • Goldberg V.P. Price adjustment in long-term contracts. Wisconsin Law Review. 1985;527-543.
    • (1985) Wisconsin Law Review , pp. 527-543
    • Goldberg, V.P.1
  • 19
    • 84934181026 scopus 로고
    • Quantity and price adjustment in long-term contracts: A case study of petroleum coke
    • Goldberg V.P., Erickson J.R. Quantity and price adjustment in long-term contracts: a case study of petroleum coke. Journal of Law and Economics. 30:1987;369-398.
    • (1987) Journal of Law and Economics , vol.30 , pp. 369-398
    • Goldberg, V.P.1    Erickson, J.R.2
  • 20
    • 84936194550 scopus 로고
    • The costs and benefits of ownership: A theory of vertical and lateral integration
    • Grossman S., Hart O. The costs and benefits of ownership: a theory of vertical and lateral integration. Journal of Political Economy. 94:1986;691-719.
    • (1986) Journal of Political Economy , vol.94 , pp. 691-719
    • Grossman, S.1    Hart, O.2
  • 21
    • 0022887401 scopus 로고
    • Regulation and long-term contracting in US natural gas markets
    • Hubbard R.G., Weiner R.J. Regulation and long-term contracting in US natural gas markets. Journal of Industrial Economics. 35:1986;71-79.
    • (1986) Journal of Industrial Economics , vol.35 , pp. 71-79
    • Hubbard, R.G.1    Weiner, R.J.2
  • 22
    • 84993848601 scopus 로고
    • The modern industrial revolution, exit, and the failure of internal control systems
    • Jensen M.C. The modern industrial revolution, exit, and the failure of internal control systems. Journal of Finance. 48:1993;831-880.
    • (1993) Journal of Finance , vol.48 , pp. 831-880
    • Jensen, M.C.1
  • 23
    • 0345947721 scopus 로고
    • Forward integration into distribution: An empirical test of transaction cost analysis
    • John G., Weitz B.A. Forward integration into distribution: an empirical test of transaction cost analysis. Journal of Law, Economics, and Organization. 4:1988;337-355.
    • (1988) Journal of Law, Economics, and Organization , vol.4 , pp. 337-355
    • John, G.1    Weitz, B.A.2
  • 24
    • 0002211637 scopus 로고
    • Vertical integration and long-term contracts: The case of coal-burning electric generating plants
    • Joskow P.L. Vertical integration and long-term contracts: the case of coal-burning electric generating plants. Journal of Law, Economics, and Organization. 1:1985;33-80.
    • (1985) Journal of Law, Economics, and Organization , vol.1 , pp. 33-80
    • Joskow, P.L.1
  • 25
    • 84934181256 scopus 로고
    • Price adjustment in long-term contracts: The case of coal
    • Joskow P.L. Price adjustment in long-term contracts: the case of coal. Journal of Law and Economics. 31:1988;47-83.
    • (1988) Journal of Law and Economics , vol.31 , pp. 47-83
    • Joskow, P.L.1
  • 26
    • 77958397295 scopus 로고
    • Vertical integration as organizational ownership: The fisher body-general motors relationship revisited
    • Klein B. Vertical integration as organizational ownership: the fisher body-general motors relationship revisited. Journal of Law, Economics, and Organization. 4:1988;199-213.
    • (1988) Journal of Law, Economics, and Organization , vol.4 , pp. 199-213
    • Klein, B.1
  • 27
    • 0003301471 scopus 로고
    • Contracts and incentives: The role of contract terms in assuring performance
    • L. Werin, & H. Wijkander. Oxford: Basil Blackwell
    • Klein B. Contracts and incentives: the role of contract terms in assuring performance. Werin L., Wijkander H. Contract Economics. 1992;Basil Blackwell, Oxford.
    • (1992) Contract Economics
    • Klein, B.1
  • 28
    • 0030551184 scopus 로고    scopus 로고
    • Why hold-ups occur: The self-enforcing range of contractual relationships
    • Klein B. Why hold-ups occur: the self-enforcing range of contractual relationships. Economic Inquiry. 34:1996;444-463.
    • (1996) Economic Inquiry , vol.34 , pp. 444-463
    • Klein, B.1
  • 29
    • 0000827401 scopus 로고
    • Vertical integration, appropriable rents, and the competitive contracting process
    • Klein B., Crawford R.A., Alchian A.A. Vertical integration, appropriable rents, and the competitive contracting process. Journal of Law and Economics. 21:1978;297-326.
    • (1978) Journal of Law and Economics , vol.21 , pp. 297-326
    • Klein, B.1    Crawford, R.A.2    Alchian, A.A.3
  • 30
    • 0000148819 scopus 로고    scopus 로고
    • Vertical integration as a self-enforcing contractual arrangement
    • Klein B., Murphy K.J. Vertical integration as a self-enforcing contractual arrangement. American Economics Review. 87:1997;415-420.
    • (1997) American Economics Review , vol.87 , pp. 415-420
    • Klein, B.1    Murphy, K.J.2
  • 31
    • 0002762762 scopus 로고    scopus 로고
    • Deregulation and the adaptation of governance structure: The case of the US airline industry
    • Kole S.R., Lehn K.M. Deregulation and the adaptation of governance structure: the case of the US airline industry. Journal of Financial Economics. 52:1999;79-117.
    • (1999) Journal of Financial Economics , vol.52 , pp. 79-117
    • Kole, S.R.1    Lehn, K.M.2
  • 33
    • 0001693951 scopus 로고
    • The transactions cost approach to vertical integration: An empirical examination
    • Levy D.T. The transactions cost approach to vertical integration: an empirical examination. Review of Economics and Statistics. 67:1985;438-445.
    • (1985) Review of Economics and Statistics , vol.67 , pp. 438-445
    • Levy, D.T.1
  • 34
    • 0000533940 scopus 로고
    • Determinants of vertical integration: An empirical test
    • Lieberman M.B. Determinants of vertical integration: an empirical test. Journal of Industrial Economics. 39:1991;451-466.
    • (1991) Journal of Industrial Economics , vol.39 , pp. 451-466
    • Lieberman, M.B.1
  • 36
    • 84935565321 scopus 로고
    • The organization of production: Evidence from the aerospace industry
    • Masten S.E. The organization of production: evidence from the aerospace industry. Journal of Law and Economics. 27:1984;403-418.
    • (1984) Journal of Law and Economics , vol.27 , pp. 403-418
    • Masten, S.E.1
  • 38
    • 0001202233 scopus 로고
    • Supplier switching costs and vertical integration in the automobile industry
    • Monteverde K., Teece D. Supplier switching costs and vertical integration in the automobile industry. Bell Journal of Economics. 13:1982;206-213.
    • (1982) Bell Journal of Economics , vol.13 , pp. 206-213
    • Monteverde, K.1    Teece, D.2
  • 39
    • 0030160301 scopus 로고    scopus 로고
    • The impact of industry shocks on takeover and restructuring activity
    • Mitchell M.L., Mulherin J.H. The impact of industry shocks on takeover and restructuring activity. Journal of Financial Economics. 41:1996;193-229.
    • (1996) Journal of Financial Economics , vol.41 , pp. 193-229
    • Mitchell, M.L.1    Mulherin, J.H.2
  • 40
    • 0000049940 scopus 로고
    • Complexity in long-term contracts: An analysis of natural gas contractual provisions
    • Mulherin J.H. Complexity in long-term contracts: an analysis of natural gas contractual provisions. Journal of Law, Economics, and Organization. 2:1986;105-177.
    • (1986) Journal of Law, Economics, and Organization , vol.2 , pp. 105-177
    • Mulherin, J.H.1
  • 41
    • 0009781990 scopus 로고
    • Specialized assets, governmental regulation, and organizational structure in the natural gas industry
    • Mulherin J.H. Specialized assets, governmental regulation, and organizational structure in the natural gas industry. Journal of Institutional and Theoretical Economics. 142:1986;528-541.
    • (1986) Journal of Institutional and Theoretical Economics , vol.142 , pp. 528-541
    • Mulherin, J.H.1
  • 42
    • 0040754776 scopus 로고
    • Vertical integration in the US pulp and paper industry, 1900-1940
    • Ohanian N.K. Vertical integration in the US pulp and paper industry, 1900-1940. Review of Economics and Statistics. 76:1994;202-207.
    • (1994) Review of Economics and Statistics , vol.76 , pp. 202-207
    • Ohanian, N.K.1
  • 43
    • 70350102522 scopus 로고
    • Vertical integration: Determinants and effects
    • R. Schmalensee, Willig R.D. Amsterdam, Netherlands: Elsevier Science Publishers
    • Perry M.K. Vertical integration: determinants and effects. Schmalensee R., Willig R.D. Handbook of Industrial Organization. vol. I:1989;Elsevier Science Publishers, Amsterdam, Netherlands.
    • (1989) Handbook of Industrial Organization , vol.1
    • Perry, M.K.1
  • 44
    • 85050714475 scopus 로고
    • Contracting practices in bulk shipping markets: A transactions cost explanation
    • Pirrong S.C. Contracting practices in bulk shipping markets: a transactions cost explanation. Journal of Law and Economics. 36:1993;937-976.
    • (1993) Journal of Law and Economics , vol.36 , pp. 937-976
    • Pirrong, S.C.1
  • 46
    • 67650519641 scopus 로고
    • Empirical research in transaction cost economics: A review and assessment
    • Shelanski H.A., Klein P.G. Empirical research in transaction cost economics: a review and assessment. Journal of Law, Economics, and Organization. 11:1995;335-361.
    • (1995) Journal of Law, Economics, and Organization , vol.11 , pp. 335-361
    • Shelanski, H.A.1    Klein, P.G.2
  • 49
    • 0041735593 scopus 로고    scopus 로고
    • SRI International, various years, (Stanford Research Institute, Menlo Park, CA)
    • SRI International, various years, Directory of Chemical Producers (Stanford Research Institute, Menlo Park, CA).
    • Directory of Chemical Producers
  • 50
    • 0001277766 scopus 로고
    • The division of labor is limited by the extent of the market
    • Stigler G. The division of labor is limited by the extent of the market. Journal of Political Economy. 59:1951;185-193.
    • (1951) Journal of Political Economy , vol.59 , pp. 185-193
    • Stigler, G.1
  • 54
    • 0013174670 scopus 로고    scopus 로고
    • US Department of Agriculture, National Agricultural Statistics Service, various years, (Government Printing Office, Washington DC)
    • US Department of Agriculture, National Agricultural Statistics Service, various years, Agricultural Prices (Government Printing Office, Washington DC).
    • Agricultural Prices
  • 55
    • 0041735592 scopus 로고    scopus 로고
    • US Department of Commerce, Bureau of Economic Analysis, various years, (Government Printing Office, Washington DC)
    • US Department of Commerce, Bureau of Economic Analysis, various years, Current Business Statistics (Government Printing Office, Washington DC).
    • Current Business Statistics
  • 56
    • 0008821604 scopus 로고    scopus 로고
    • US International Trade Commission, various years, (Government Printing Office, Washington DC)
    • US International Trade Commission, various years, Synthetic Organic Chemicals (Government Printing Office, Washington DC).
    • Synthetic Organic Chemicals
  • 57
    • 58449129890 scopus 로고
    • A transaction cost approach to make-or-buy decisions
    • Walker G., Weber D. A transaction cost approach to make-or-buy decisions. Administrative Science Quarterly. 29:1984;373-391.
    • (1984) Administrative Science Quarterly , vol.29 , pp. 373-391
    • Walker, G.1    Weber, D.2
  • 58
    • 0000162540 scopus 로고
    • Supplier competition, uncertainty, and make-or-buy decisions
    • Walker G. Supplier competition, uncertainty, and make-or-buy decisions. Academy of Management Journal. 30:1987;589-596.
    • (1987) Academy of Management Journal , vol.30 , pp. 589-596
    • Walker, G.1
  • 59
    • 84933494329 scopus 로고
    • The role of firm specific capital in vertical mergers
    • Weiss A. The role of firm specific capital in vertical mergers. Journal of Law and Economics. 35:1992;71-88.
    • (1992) Journal of Law and Economics , vol.35 , pp. 71-88
    • Weiss, A.1
  • 60
    • 0042237539 scopus 로고
    • Contract law in modern commercial transactions, an artifact of twentieth century business life?
    • White J.J. Contract law in modern commercial transactions, an artifact of twentieth century business life? Washburn Law Journal. 22:1982;1-22.
    • (1982) Washburn Law Journal , vol.22 , pp. 1-22
    • White, J.J.1
  • 61
    • 0000453367 scopus 로고
    • The vertical integration of production: Market failure consideration
    • Williamson O.E. The vertical integration of production: market failure consideration. American Economic Review. 61:1971;112-123.
    • (1971) American Economic Review , vol.61 , pp. 112-123
    • Williamson, O.E.1
  • 63
    • 0001470630 scopus 로고
    • Transaction cost economies: The governance of contractual relations
    • Williamson O.E. Transaction cost economies: the governance of contractual relations. Journal of Law and Economics. 22:1979;233-261.
    • (1979) Journal of Law and Economics , vol.22 , pp. 233-261
    • Williamson, O.E.1
  • 65
    • 0039066439 scopus 로고    scopus 로고
    • Survival of the fittest or the fattest? Exit and financing in the trucking industry
    • Zingales L. Survival of the fittest or the fattest? Exit and financing in the trucking industry. Journal of Finance. 53:1998;905-938.
    • (1998) Journal of Finance , vol.53 , pp. 905-938
    • Zingales, L.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.