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On the Uniqueness of Hybrids, Market Exchanges, and Vertical Integration: Evidence from Physician-Hospital Marketing Relationships
| Content Provider | Semantic Scholar |
|---|---|
| Author | Barnes, James N. Fannin, James Matthew James, Harvey S. Klein, Peter G. |
| Copyright Year | 2010 |
| Abstract | The study of organizational structure has advanced considerably since Coase‟s seminal paper on the nature of the firm in 1937. An important question in this literature is what gives rise to different organizational structures. Originally this literature focused on the differences between market exchanges and vertical integration. However, scholars have also recognized that there are intermediate forms of organization, collectively known as hybrids, which more accurately consist of long-term contracting. Williamson (1991), Hodgson‟s (2002), Menard (2004) and other scholars have discussed the question of whether hybrids are an alternative to market exchanges and integration. Nevertheless, empirical researchers and academics continue to work as if the problem is decided, that is, as if hybrids are unique organizational structures. The purpose of this paper is to examine the question of whether hybrids are distinct from market exchanges and vertical integration. We use a unique database of physician and hospital contracting relationships that contains detailed information about different types of governance arrangements linking physicians to hospitals. Importantly, we can identify not only market exchanges and vertical integration, but also long-term contracting and other hybrid structures. Specifically, we use data from the American Hospital Association‟s 2004 Annual Survey Database to conduct a canonical discriminant analysis of the data to determine if variables expected to affect the choice of governance structure effectively discriminate among markets, hybrids, and vertical integration. In this way we can determine the extent to which hybrids are |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://ageconsearch.umn.edu/record/56539/files/SAEA2010_BFJA_Hybrid_ver1.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
