题　目：History, Strategy, and Organizational Design: Vertical Integration Decisions Under Supplier Industry Consolidation

嘉　宾：Liuyi Wang (王柳懿), Ph.D. Candidate, University of Arizona

主持人：刘益 教授 上海交通大学安泰经济与管理学院

时　间：2025年10月29日（周三）15:30-17:00

地　点：上海交通大学 徐汇校区 安泰经济与管理学院A303

内容简介:

With an increase in mergers and acquisitions between competitors in a supply chain, managers and policy makers are concerned about the “ripple effect” of changes in the competitive market structure on other parts of the supply chain. This study examines how downstream firms adjust their vertical boundaries as a response to consolidation in their upstream supplier industry. The authors develop a framework suggesting that the downstream firm’s response will be strategic and heterogenous and depend on its current relationship with suppliers and key firm-specific characteristics. Hypotheses are tested using a comprehensive dataset of 15,744 firms and 91,788 firm-supplier-industry pairs over 10 years. The results show that while the likelihood of vertically integrating with a supplier increases with the level of consolidation in that supplier industry, firms with longer standing relationships with existing suppliers are less likely to do so. Such relationships provide coordination and adaptation benefits that preclude the need for vertical integration to upstream consolidation shocks. Furthermore, the results show that this relationship effect is more pronounced for client firms with higher levels of R&D intensity and those having a more specialized business portfolio since securing strategic value from these firm-specific characteristics requires deeper value chain coordination with suppliers.

演讲人简介：

Liuyi Wang is a Ph.D. candidate in Marketing at the Eller College of Management, University of Arizona. Her research examines how firms and individuals respond to structural changes in their environments, such as market consolidation, demographic transitions, and institutional interventions. She studies how organizations reshape their boundaries in response to evolving supply chain dynamics and how individuals adjust their consumption under policy-induced constraints or opportunities. Methodologically, she employs econometric, causal inference, and machine learning techniques on large-scale observational data. She earned her M.Sc. in Quantitative Economics and Econometrics from the University of Arizona and her B.S.Sc. in Economics from Hong Kong Baptist University.

欢迎广大师生参加!