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Intra-Firm Linkages in Multi-Segment Firms: Evidence from the Japanese manufacturing sector

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  • OKUBO Toshihiro
  • Kirill BORUSYAK

Abstract

Are diversified firms mere collections of independent assets, or is there anything that glues together different businesses? We explore this question by looking at segment level growth of multi-segment (i.e., producing in several 6-digit industries at the same time) manufacturing firms in Japan. We find substantial co-movement between such segments and show that it can be driven by plant-wide but not firm-wide shocks. Our findings suggest that inputs that are shared firm-wide, such as brand and organizational routines, are not too important for production.

Suggested Citation

  • OKUBO Toshihiro & Kirill BORUSYAK, 2016. "Intra-Firm Linkages in Multi-Segment Firms: Evidence from the Japanese manufacturing sector," Discussion papers 16001, Research Institute of Economy, Trade and Industry (RIETI).
  • Handle: RePEc:eti:dpaper:16001
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    File URL: https://www.rieti.go.jp/jp/publications/dp/16e001.pdf
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    References listed on IDEAS

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    1. Javier Cravino & Andrei A. Levchenko, 2017. "Multinational Firms and International Business Cycle Transmission," The Quarterly Journal of Economics, Oxford University Press, vol. 132(2), pages 921-962.
    2. Hottman, Colin & Redding, Stephen J. & Weinstein, David E., 2014. "What is Firm Heterogeneity in Trade Models? The Role of Quality, Scope, Markups, and Cost," CEPR Discussion Papers 10133, C.E.P.R. Discussion Papers.
    3. Andrew B. BERNARD & OKUBO Toshihiro, 2015. "Product Switching and the Business Cycle," Discussion papers 15103, Research Institute of Economy, Trade and Industry (RIETI).
    4. Hart, Oliver, 1995. "Firms, Contracts, and Financial Structure," OUP Catalogue, Oxford University Press, number 9780198288817.
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