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What lies between market and hierarchy? Insights from internalization theory and global value chain theory

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journal contribution
posted on 2023-06-20, 14:17 authored by Roger StrangeRoger Strange, John Humphrey
In 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 Studies

ISSN

0047-2506

Publisher

Palgrave Macmillan

Issue

8

Volume

50

Page range

1401-1413

Department affiliated with

  • Strategy and Marketing Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2018-10-08

First Open Access (FOA) Date

2019-10-29

First Compliant Deposit (FCD) Date

2018-10-08

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