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Governing under high uncertainty: the strategic role of sÅ gÅ shÅ sha in early GVC formation

Author

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  • Yoko Isozaki

    (Retail Consultant, LuxModa Consulting)

Abstract

This study explores the role of Japan’s sŠgŠshŠsha in global value chains (GVCs) led by multinational enterprises (MNEs), reconceptualizing them as strategic governance actors. Applying Transaction Cost Economics (TCE) and firm-GVC integrative framework, we conduct a comparative case analysis of DuPont and Fast Retailing, both of which entered China in the early-1990s, a period marked by deep political and policy uncertainty, through partnerships with Mitsubishi—a leading sŠgŠshŠsha. Our finding identifies an alternative governance structure during the early, highly uncertain stages of GVC formation: the temporary externalization of orchestration functions. We also extend the concept of credible commitment beyond its traditional application in a dyadic buyer-supplier context, showing its relevance in multi-actor contracts and even joint ventures.

Suggested Citation

  • Yoko Isozaki, 2025. "Governing under high uncertainty: the strategic role of sÅ gÅ shÅ sha in early GVC formation," Discussion Papers in Economics and Business 25-16, Osaka University, Graduate School of Economics.
    • Handle: RePEc:osk:wpaper:2516
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    File URL: https://www2.econ.osaka-u.ac.jp/econ_society/dp/2516.pdf
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    JEL classification:

    • N85 - Economic History - - Micro-Business History - - - Asia including Middle East
    • N95 - Economic History - - Regional and Urban History - - - Asia including Middle East

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