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What lies between market and hierarchy? Insights from internalization theory and global value chain theory
journal contribution
posted on 2023-06-20, 14:17 authored by Roger StrangeRoger Strange, John HumphreyIn this paper, we suggest that internalization theory might be extended by incorporating complementary insights from GVC theory. More specifically, we argue that internalization theory can explain why lead firms might wish to externalize selected activities, but that it is largely silent on the mechanisms by which those lead firms might exercise control over the resultant externalized relationships with their GVC partners. We advance an explanation linking the choice of control mechanism to two factors: power asymmetries between the lead firms and their GVC partners, and the degree of codifiability of the information to be exchanged in the relationship.
History
Publication status
- Published
File Version
- Accepted version
Journal
Journal of International Business StudiesISSN
0047-2506Publisher
Palgrave MacmillanExternal DOI
Issue
8Volume
50Page range
1401-1413Department affiliated with
- Strategy and Marketing Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2018-10-08First Open Access (FOA) Date
2019-10-29First Compliant Deposit (FCD) Date
2018-10-08Usage metrics
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