The incompleteness of research on firm boundaries

摘要

The purpose of this short essay has been to outline several mismatches between theory and data in vertical integration research and to suggest that these misalignments present exciting opportunities for future study. Transaction cost economics is undoubtedly the core of research in this area. But although its reign has been fruitful, it has been overly strict. It has led at a minimum to oversimplification of context and of interpretation. Vertical integration and its obverse - outsourcing -are enduring and important problems for economists, organization theorists and managers. A more elaborate, detailed and widening research program would serve all of these constituencies more effectively.