Globalization has been identified by many experts as a new way firms organize their activities and as the emergence of human capital as the new stakeholder of the firm. This paper surveys recent work which examines the role of trade integration for these changes in corporate organization. More intense competition and the change in the pattern of specialization following trade liberalization make it both more likely that an organizational equilibrium emerges in which power is delegated to lower levels of the firms' hierarchy empowering human capital. Furthermore, trade integration leads to waves of outsourcing and to a convergence in corporate cultures across countries.
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Paper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number
11.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Dalia Marin & Thierry Verdier, 2001.
"Power Inside the Firm and the Market: A General Equilibrium Approach,"
Discussion Papers
109, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich, revised Apr 2006.
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Raghuram G. Rajan & Luigi Zingales, 1998.
"The Governance of the New Enterprise,"
CRSP working papers
487, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
[Downloadable!]
Other versions:
Dalia Marin & Thierry Verdier, 2004.
"Globalization and the Empowerment of Talent,"
Discussion Papers
1, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
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Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.) This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.