Vertikale Integration und Unternehmenserfolg: eine empirische Untersuchung in der Formel 1 |
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| Authors: | Dr Andreas Hack Dr habil Jörg Schiller |
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| Institution: | 1. Lehrstuhl für Innovations- und Gründungsmanagement, Technische Universit?t Dortmund, Otto-Hahn-Stra?e 4, 44227, Dortmund, Deutschland
2. Fakult?t für Betriebswirtschaft, Institut für Risikoforschung und Versicherungswirtschaft, Ludwig-Maximilians-Universit?t München, Schackstr. 4/III, 80539, München, Deutschland
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| Abstract: | According to the (new) theory of the firm vertically integrated firms might under certain conditions outperform disintegrated firms. In particular, in a situation with high transaction specific investments and measurement problems concerning individual performance an underinvestment problem may arise. In this paper we show for Formula One motor racing that integrated firms solve arising underinvestment problems more efficiently than disintegrated firms and that the decision to integrate positively affect the firm’s performance. |
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