This study investigates different types of vertically integrated ownership types inrelation to technical efficiency, in the Swedish sawmill industry. The theoreticalfindings connecting vertical integration and efficiency points in two directions:both in favour for non-integrated firms and in favour for fully integrated firms.In the study, significant differences between ownership types are not found. Onepossible interpretation of this result is that the integration advantages outweigh thepossible negative effects an integrated firms will have from maximising an integratedobjective function.
Review of Industrial Organization – Springer Journals
Published: Oct 18, 2004
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