Overcapacity Prescription: Downsize, Vertically Integrate or Strategically Partner?

摘要

Much of the IT and manufacturing literature predicts downsizing and strategic partnering to result from information technology (IT) ubiquity. But every week, the front pages of the Wall Street Journal report mega mergers and acquisitions (M&A), originally concentrated in the pharmaceutical, healthcare, banking, software and entertainment sectors. What characteristic(s) particular to these industries interact with IT ubiquity to determine the firm's or industry's optimal structural response? Firm structure has been studied from the transaction cost economics perspective, which prescribes optimal firm size to be that which minimizes total cost for the firm.