术语“纵向联合”的详细信息

英译术语:

vertical integration

汉语语境:

新古典企业理论将企业纵向联合视为技术决定的结果，企业作为一个生产函数只需要在市场价格机制下按最大化原则行事即可。这种观点忽视了价格机制的运行是有成本的。交易成本经济学以人的有限理性与机会主义假设为基础，将交易按资产专用性、不确定性与交易频率等特征维度化，并认为资产专用性、不确定性程度越高，交易各方签约后对占用准租金的机会主义行为越强，以至于交易各方无法做出连续性与适应性的决策。而纵向联合则可以有效避免这种问题，获得适应性收益，其代价是企业内的低能激励与管理成本的增加。

英语语境:

Neoclassical firm theory considers the vertical integration as the result of technology decision. Enterprises only need to act as a production function in accordance with the principle of maximum under the market price mechanism. This view ignores the fact that the operation of the price mechanism also has its cost. Transaction cost economics distinguishes different transactions by asset specificity, uncertainty and transaction frequency, based upon the assumptions of bounded rationality and opportunism. It is claimed that the higher the asset specificity and the degree of uncertainty are, the stronger the opportunistic behavior of appropriation of quasi-rent is after signing the agreement, so that parties involved in the transaction can't make a continuous and adaptive decision. The vertical integration can effectively avoid this problem and obtain the adaptation gains at the expense of the low-powered incentives and the increase of the management cost.