The Multiple Boundaries of the Firm*

ABSTRACT The notion of firm boundaries has received considerable attention in theories of the firm that address the problems of investment incentives and mitigation of hold‐up problems. In this paper we attempt to develop a different approach to the problem of vertical firm boundaries, based on recent advances in the capabilities view of the firm. Our arguments rely on the pioneering insights of Penrose, Richardson and Loasby to elaborate a view of the boundaries determined by the interaction of the firm's direct and indirect capabilities with other actors. We develop the notion of indirect capabilities to highlight how firm boundaries respond to the distribution of capabilities in the economy as well as the modes of access to complementary and external capabilities. We conclude that the evolution of firm boundaries must be understood in the context of decisions on how the firm relates to other actors in its environment.     

演化视角下企业动态能力的构建

构建企业动态能力,形成持久竞争优势是迎合当今世界经济发展的重要要求。文章立足于演化理论,构建了企业动态能力演化模型,提出了学习、创新、匹配和融合的共同演变过程。     

Entrepreneurship and Firm Boundaries: The Theory of A Firm

abstract In this paper, we consider how a better understanding of entrepreneurial activities can help explain how firm and industry boundaries change over time and how a more comprehensive understanding of boundary setting can explain where entrepreneurial activities are directed. We start from the premise that while entrepreneurs believe themselves to have superior ideas in one or multiple parts of the value chain, they are characteristically short of cash, and of the ability to convince others to provide it. This premise motivates a simple model in which the entrepreneur has a value‐adding set of ideas for ‘upstream’ and ‘downstream’ parts of a value chain, as well as for the ways to make these two parts of the value chain work better when joined under unitary control. Assuming that the entrepreneur's objective is to maximize her wealth, we observe that even in the presence of transactional risks or other factors that might make integration preferable to specialization, initial scope depends also on relatively unexplored factors such as (a) how severe the entrepreneur's cash constraint is, and (b) how much value the entrepreneur's ideas add at each part of the value chain. Entrepreneurs will focus on the areas that provide the maximum profit yield per available cash – a criterion which implies that scope choices depend on cash availability and the depth of the demand for the new idea along the value chain. We also note that entrepreneurs make money not only from the operating profits of their firms, but also from the appreciation of the assets the firm has accumulated. This consideration can change the optimal choice of the firms’ boundaries, as entrepreneurs must be sensitive to choosing the segment that will enable them to benefit not only in terms of profit, but also in terms of asset appreciation. We propose that, in the entrepreneurial context especially, it is helpful to focus on the multiple considerations affecting the choice of boundaries for ‘a’ firm – the context faced by an individual entrepreneur – rather than on generic considerations affecting ‘the’ (representative) firm. Scope choices reflect the entrepreneur's own theory of ‘how to make money’.     

基于品牌形象塑的企业网站比较研究——以计算机整机制造业为例

企业网站对于品牌形象塑造有着不可或缺的作用.本文在明确品牌形象构成要素的基础上,运用内容分析、对应分析等方法对比了10家计算机企业网站在塑造品牌形象方面的异同点,结果表明,联想、戴尔、华硕这3家企业网站对于品牌形象的宣传力度较大;就整体而言,企业网站更多地关注了品牌个性和产品形象的塑造,对服务的展现和提供尚有较大的提升空间. 根据中国互联网络信息中心(CNNIC)的调查数据显示,从2000年到2010年.中国的网站总数由26.5万个上升到323万个,平均年增长约37%,其中企业网站数量占一半以上.     

The Evolution of Indian Industrial Relations: A Comparative Perspective

This article examines the evolution of Indian industrial relations in an historical and structural context. In India, the evolution of industrial relations has been ‘incremental’ and ‘adaptive’ and not ‘discontinuous’ and ‘revolutionary’. The relationship between changing industrialisation strategies and industrial relations institutions and practices in India is considerably more subtle than is often supposed in comparative industrial relations narratives, especially when detailed endogenous political economy considerations are taken into account.     

A Cognitive Perspective on Entrepreneurship and the Firm

abstract    I propose to examine the theme of this Special Issue from the perspective of its treatment – and, of especial significance, its lack of treatment – within economics. In the course of this examination we shall observe that the concepts of entrepreneurship and the firm are generally kept separate, and attempt to explain why. I shall avoid any discussion of recent work, which is more productively left to my fellow contributors, choosing instead to devote the first half of my contribution to providing an analytical basis for the second half by exploring the problem of knowledge in economic systems, and relating this problem to the evolved nature of human beings and their relationship with their environment. In this exploration I shall rely almost entirely on the work of economists, though much of it was not directed to conventional economic issues.     

猎头公司服务能力测评与对策——以G公司为例

本案例通过内训嵌入与网络调查、自评与他评相结合的方式,对国内一本土猎头公司（G公司）服务能力进行调查。基于调查结果和案例分析从而为有效提升G公司服务能力提出了如下建议：一是对现有行业人才数据库实施深度挖掘与更新维护并举。二是促进核心业务的开展与拓展。三是引进信度、效度有保证且普适性强的人才测评工具。四是加大资深HR人士的引进力度,进一步优化现有人才队伍。五是强化现有猎头人员人际洞察力与专家影响力方面的培训。     

Do You See What I Mean? An Entrepreneurship Perspective on the Nature and Boundaries of the Firm

abstract In answering the questions ‘why does the firm exist?’ and ‘what determines its boundaries?’, established theories of the firm have focused on boundary choice in a context of relatively easily identified and evaluated alternatives. This paper starts by asking the kindred question ‘why does the firm come into existence?’, shifting attention to the circumstances and choices surrounding new firm formation and the exploitation of new and untried business ideas. It proceeds to delineate an entrepreneurship perspective on the nature and boundaries of the firm, where boundary decisions are driven by the difficulty of implementing new, subjective means–ends frameworks in sometimes very unreceptive markets. A set of propositions developing the concepts of cognitive incongruence and cognitive incompleteness suggests that activities are internalized when other market participants are unable to accept or understand the entrepreneur's subjectively perceived means–ends framework. In conclusion, the paper supports the development of theory that explains choice of modes of action based on subjective world views and the emerging notion of a distinctive entrepreneurship‐based theory of the firm.     

Capabilities in Motion: New Organizational Forms and the Reshaping of the Hollywood Movie Industry*

abstract This paper looks at the evolution of capabilities in the Hollywood movie industry in the aftermath of the transition from a studio era dominated by integrated hierarchies to a post‐studio era dominated by flexible hub organizations supplied by networks of resource providers. Adopting a dynamic capabilities perspective we argue that two industry capabilities – mobilizing and transforming capabilities – play a crucial role in assembling and transforming resource bundles into feature films. We further argue that the transition to new organizational forms shifts the co‐evolutionary process, with practices and routines that make up mobilizing capabilities changing faster and becoming more important to box office success than practices and routines that make up transforming capabilities. We test our hypotheses using a sample of 400 films split between the studio and post‐studio eras. The results support our hypotheses, pointing to the influence of centralized control versus dispersed access to resources. The strategy of integrated hierarchical organizations depends on ownership of resources that reduces incentives to develop mobilizing capabilities, and increases incentives to develop transforming capabilities. The advent of new organizational forms, by contrast, increases returns to new practices and routines that mobilize resources at the expense of returns on exploring practices and routines that make up transforming capabilities.     

Governance of the Entrepreneurial Threshold Firm: A Knowledge-based Perspective

ABSTRACT By building on a knowledge‐based view of the firm, this paper addresses a relatively unexplored area of roles and dynamics of corporate governance in younger, threshold firms that are undergoing a transition from the emergence to the professional management stage. Our analysis is focused on the process of capability development, exploring the effect of the asymmetry in knowledge that often exists between directors and senior managers on the governance of threshold firms. We examine the key sources of this asymmetry, explore ways directors and senior executives learn, and then discuss the implications of this learning on the evolution of governance systems in the threshold firm.     

基于产业链中间嵌入的企业成长机制——以英利集团为例

本文基于产业链嵌入的全新视角,探析中国企业成长的有效机制。通过介绍英利集团在光伏产业中的成长过程,分析并指出产业链中间嵌入是其取得成功的关键,解析了产业链中间嵌入的关键路径及成长机制,构建了基于产业链中间嵌入的企业成长模型。研究表明,在产业资本与技术积累相对落后的前提下,产业链中间嵌入是我国企业突破跨国公司钳制、向产业...     

物流运筹平台运用研究—以A公司为例

分析了运筹管理的涵义及其演变的四个阶段,归纳了主要国家(地区)以及中国台湾地区的电子化贸易与运筹服务平台。在比较传统物流运筹作业模式与物流运筹平台作业模式的基础上,重点介绍了A公司物流运筹平台的主要功能及其效益。     

物流运筹平台运用研究-以A公司为例

分析了运筹管理的涵义及其演变的四个阶段,归纳了主要国家(地区)以及中国台湾地区的电子化贸易与运筹服务平台.在比较传统物流运筹作业模式与物流运筹平台作业模式的基础上,重点介绍了A公司物流运筹平台的主要功能及其效益.     

低碳视角下多式联运经济性能实例分析--以郑明物流为例

为了进一步研究铁路运输与其他运输方式开展多式联运的经济性能,在阐述多种运输方式性能差异的基础上,以郑明物流为例,通过分析其特定运输路线现有运输方式的能源消耗、碳排放量和运输过路费等指标,提出在不同月份和不同时期的多式联运优化方案,为物流企业开展多式联运提供借鉴。     

中美比较视角下我国电子商务的演进道路——从模仿起步到分化创新的三个特征事实

中国电子商务从模仿美国起步,在适应国情的发展中,逐渐演化形成了自己的特色,走出了一条分化和创新发展而不是模仿趋同的道路。正是在这一独特发展道路的强力支撑下,中国电子商务虽后发于美国,却实现了跨越式发展。然而,当前对中国电子商务独特发展路径的刻画及其背后深层根源的探究却较少。文章在对相关数据进行分类整理的基础上,通过和美国比较,刻画出了中国电子商务在发展中分化出来的三个鲜明特色:在较长时间内维持了超常增长;平台模式居于绝对主导地位;高集中度的市场竞争结构。本文的发现为后续探究中国电子商务历史经验和发展趋势等提供了借鉴。     

动态能力视角下上市公司盈利质量的实证研究

在当今动荡环境下,竞争优势来自于动态能力,即上市公司不断改进、更新、重构资源,形成新的功能能力,使之与外部环境相匹配。因此,研究动态能力的组成内容,并验证其对上市公司盈利质量的作用是有意义的。本文以上市公司盈利质量的动态能力框架为基础,确定上市公司盈利质量动态能力的维度为组织学习、整合能力、市场导向、组织柔性和风险防范能力。     

基于分形理论的特大城市新型产业空间发展演变研究——以广州商务办公空间为例

本文借助分形理论和集中指数测算,从街道和均一分析单元两种空间尺度对广州办公业空间集中与分散的演变趋势进行了定量研究。研究结果表明,无论是在街道还是在均一分析单元层面,广州商务办公空间的空间分维值呈逐渐上升趋势,广州商务办公空间的集中程度逐年降低,办公空间的空间垄断性已不明显,空间分散化趋势得到了确立。但集中指数仍然处于较高的水平,表明广州商务办公空间虽然出现了分散的态势,但总体上仍然处于集中阶段。     

内控型还是参与型人力资源管理系统——基于权变匹配视角的案例对比研究

本文采用案例研究方法,基于第三方物流(3PL)行业的不同业务模式,尝试从权变匹配视角探索顺丰速运和联邦快递如何在复杂的内外部环境中制定不同的人力资源策略,以支撑不同业务模式,与内外部环境相匹配。研究发现:(1)不同业务模式引发不同的人力资源管理系统垂直匹配,内控型人力资源管理系统与功能主导型业务模式匹配,而参与型人力资源管理系统与供应链一体化业务模式匹配;(2)不同人力资源管理系统进行内部水平匹配;(3)外部环境复杂程度高、内部环境复杂程度低,采用内控型人力资源管理与之匹配,而外部环境复杂程度低、内部环境复杂程度高,采用参与型人力资源管理与之匹配。     

The Boundaries of the Firm: The Choice Between Stand-Alone and Integrated Firms

This study presents a theory of corporate structure selection. It outlines when economic units should be structured as stand-alone firms versus an integrated firm (conglomerate). The theory suggests that an integrated firm better controls agency problems through yardstick competition between managers for project acceptance. However, this structure reduces the ability to receive division-specific project information from the market. Based on this trade-off, we show that divisions within a conglomerate have different characteristics and, thus, different valuations than "similar" stand-alone firms. Our theory also explains differences in the required rate of return between stand-alone firms and conglomerates and how they relate to relative valuations of conglomerates and "similar" stand-alone firm. It also predicts when stock price reaction to divestiture and merger announcements will be positive or negative.     

基于财务分析视角的三亚度假型酒店餐饮发展思路探析——以三亚A酒店为例

面对市场倒逼压力,新常态下的国内酒店业正在进行转型升级,三亚度假型酒店餐饮业新常态下的发展成为业界焦点。本文通过对案例酒店餐饮业绩状况进行财务分析,运用深入访谈法、调研法和数据分析等,对取样度假酒店财务指标现状及经营现状进行分析,提出三亚度假型酒店餐饮发展的思路。