Globalization and the 'New Enterprise'
AbstractGlobalization 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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Bibliographic InfoPaper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number 11.
Date of creation: Sep 2002
Date of revision:
international trade with imperfect competition ; corporate governance ; theory of the firm ; empowerment ; outsourcing;
Other versions of this item:
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
This paper has been announced in the following NEP Reports:
- NEP-MAC-2003-07-10 (Macroeconomics)
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