The impact of vertical integration on the efficiency of companies in the emerging capital markets

Влияние вертикальной интеграции на эффективность деятельности компаний на развивающихся рынках капитала

Cherkasova, Viktoria (Черкасова, Виктория) (), Molchanov, Dmitriy (Молчалов, Дмитрий) () and Cherkasova, Elizaveta (Черкасова, Елизавета) ()
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Cherkasova, Viktoria (Черкасова, Виктория): National Research University Higher School of Economics
Molchanov, Dmitriy (Молчалов, Дмитрий): OOO "Gasoil"
Cherkasova, Elizaveta (Черкасова, Елизавета): National Research University Higher School of Economics
Authors registered in the RePEc Author Service: Victoria Cherkasova

Ekonomicheskaya Politika / Economic Policy, 2014, vol. 4, 60-78

Abstract: The article reveals the influence of factors on the efficiency of vertical integration of companies in the emerging markets, is calculated as the Lerner index. The model, which allows to evaluate the effectiveness of a vertically integrated company, and in the case of disintegration. Studied empirical relationship profitability BRICS on the factors that determine it in the case of vertical integration, which has been tested on data for the years 2004-2012. Identify key significant factors across sectors and countries of BRICS. Conducting research will help understand whether there is a trend developing capital markets to reduce dependence on the effectiveness of the company a high degree of vertical integration.

Keywords: the company's strategy; value added; price volatility; the degree of vertical integration and disintegration (search for similar items in EconPapers)
Date: 2014
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