Diploma thesis "Vertical integration and vertical restraints - The Case of the Czech manufacturing industry" deals with the empirical examination of the influence of the degree of vertical integration on the productivity of Czech firms in the manufacturing industry and is focused on some aspects of the automotive industry during the period 1998 -- 2007. At the theoretical level the work deals with determinants of vertical integration and vertical restraints, both on an individual level and also in terms of social welfare. The results of the analysis show the existence of the negative relationship between the degree of vertical integration and the productivity of companies in the manufacturing sector. Examination of the automotive industry showed reduction of the output gap between domestic and foreign firms.

The thesis introduces thorough analysis of current approach towards margin squeeze practice, an abuse of dominant position by vertically integrated entity. For proper categorization, definition and understanding of the basic assumptions behind the strategy of margin squeeze and its application, the paper presents necessary conceptual apparatus. Further the paper deals also with regulatory framework of abuses of dominant position, national as well as international. In the practical section the paper introduces margin squeeze strategy within telecommunication industry and its regulatory framework in the Czech republic and brings recommendations for ex-ante margin squeeze testing in relation with current European regulators policy updates following the dynamic technological development of the industry.

Contrairement au mouvement d’externalisation constaté depuis plusieurs décennies dans le secteur textile-habillement-cuir, les entreprises appartenant au segment du luxe affichent un degré d’intégration verticale de plus en plus poussé. Ce travail de thèse s’attache à mettre en lumière les causes et les conséquences de cette stratégie en mobilisant les concepts et les méthodes de l’économie industrielle.Le fonctionnement spécifique de l’industrie du luxe nous amène à privilégier une approche micro-économique basée sur des données qualitatives et quantitatives recueillies sur 21 entreprises, ainsi que des modèles économétriques menées sur 18 d’entre elles.Cette thèse montre que la stratégie d’intégration verticale mise en œuvre par les entreprises répond en premier lieu à une recherche d’efficience productive et de captation de rente. Elle a eu pour effet de renforcer les barrières à l’entrée existantes sur le segment du luxe et contribué à accroître les performances des acteurs installés. / Unlike the outsourcing trend stated during the last decades in the textile-apparel-leather sector, luxury-fashion firms show in increasing degree of vertical integration. This thesis’ aim is to reveal the objectives and effects of this strategic move using the concepts and methods of industrial economics.The specific behavior of the luxury industry lead us to choose a microeconomic approach, based on quantitative and qualitative data gather on 21 luxury companies, and empirical statistical tests carried out on 18 firms.Results show that the main justification for a greater level of integration is the search for efficiency and rent-seeking strategies. This strategy led to higher barriers to entry on the luxury market and increased performances for installed firms.

El objetivo principal de este trabajo de investigación es el análisis de la propuesta de integración vertical hacia atrás de la empresa ALIMENCORP para lograr un crecimiento sostenido y mejorar su rentabilidad, tomando como líneas base sus capacidades y potencialidades, así como su conducta y rendimiento dentro del sector. Para el desarrollo de la investigación, se analizó el sector del rendering en el Perú que provee de insumos proteicos al sector de alimentos balanceados para la crianza intensiva y de mascotas; el mismo que cuenta como característica resaltante la restricción de materias primas. En este sentido, el desarrollo del análisis externo e interno, brindaron precisiones para la realización de análisis acerca de las oportunidades, amenazas, así como de las fortalezas y debilidades que determinan la conducta de las empresas dentro del sector. Después de un análisis profundo de lo expuesto en el párrafo anterior, se formularon varias estrategias, obteniendo el mayor puntaje la estrategia de integración vertical hacia atrás para hacer frente a la restricción de materias primas, reforzando la cadena de suministros de ALIMENCORP para alcanzar un crecimiento sostenido y mejorar su rentabilidad. La investigación concluye que la estrategia desarrollada es un acierto porque ALIMENCORP cuenta con fortalezas mayores frente a sus competidores. Finalmente, de acuerdo a la evaluación financiera realizada se obtiene un VAN positivo de S/. 1 819,077 soles sobre el WACC con una TIR del 33.05%, por lo que se concluye que el proyecto es viable y se recomienda su implementación. / The main objective of this research is the analysis of the proposal for backward vertical integration of the company ALIMENCORP to achieve sustained growth and improve its profitability, taking as baselines its capabilities and potential, as well as its conduct and performance within the sector. For the development of the research, the rendering sector in Peru that provides protein inputs to the balanced food sector for intensive breeding and pets was analyzed; the same one that has as an outstanding feature the restriction of raw materials. In this sense, the development of the external and internal analysis, provided details for the analysis of opportunities, threats, as well as the strengths and weaknesses that determine the conduct of companies within the sector. After an in-depth analysis of what was stated in the previous paragraph, several strategies were formulated, obtaining the highest score the backward vertical integration strategy to face the restriction of raw materials, reinforcing ALIMENCORP's supply chain to achieve a sustained growth and improve its profitability. The research concludes that the strategy developed is a success because ALIMENCORP has greater strengths compared to its competitors. Finally, according to the financial evaluation, a positive NPV of S/. 1 819,077 soles is obtained, over the WACC with an IRR of 33.05%, so it is concluded that the project is viable and its implementation is recommended. / Trabajo de investigación

本文利用連續Cournot 寡占模型分析垂直相關市場中，產能限制如何幫助垂直整合廠商提高對手成本，並檢視歐盟執委會非水平結合準則中對於此議題規範的妥適性。結果顯示，垂直整合廠商提高對手誘因與攫取市場分額無直接關係，且與無產能限制情況相比，在相當範圍內，垂直整合廠商反而偏好自己產能受到限制。當垂直整合廠商受到產能限制時，獨立上游競爭廠商將減少中間財生產，使得垂直整合廠商可以藉由少量中間財購買，大幅提高對手成本，增加利潤。 / This paper analyzes the impact of capacity constraint on vertically integrated firm and other independent downstream in a Cournot Duopoly market. The result shows that vertically integrated firm may prefer to be constrained in its capacity since it could raise rivals’ cost with fewer cost after supply shrink of other upstream suppliers. Aside from EC Guideline, 2004, the research proves no direct relevance between market share captures and raising rival’s cost of a vertically integrated firm. Vertically integrated firm with capacity constraint may as well further raise rival’s cost even such may reduce its market share or revenue as the tremendous reduction cost on strategic buying. Moreover, as the fringe downstream expands to three, the profit gap of vertically integrated firm between constrained and unconstrained capacity will be wider.

企業的策略制定與執行並非一成不變的，必須依產業的變化、競爭的動態況、及本身的資源多寡，隨時檢視是否需要加以修正，如此才能讓企業立於不敗之地，達成永續經營。在產業的生命週期步入成熟期以後，單靠『產品創新』與『流程創新』均不足以維持企業的競爭力，必須藉由『策略創新』來接續企業的生命力，所謂的『策略創新』也就是重組價值鏈，傳統上，許多企業對於重組價值鏈的做法是進行『垂直整合』。但在核心能力（Core Competency）的觀念普遍化之後，管理的鐘擺又朝向了垂直分工，於是降低垂直整合反而成為風尚，企業開始更加注重專注、輕裝、簡捷，把競爭力的重點放在自己最為優勢的領域，對於非核心能力價值活動，企業改以外包的方式來取代。 關於垂直整合策略或分工策略的相關研究，過去雖有諸多文獻探討，但其研究方向多著重在策略形成的動機、效益、成本、影響因素及與經營績效的關係，對於垂直整合的關鍵成功因素，及垂直整合策略在執行過程，若面對外在環境的變化需要調整時，引發策略需要改變的內外在因素為何？如何進行策略調整？以及如何進行策略調整後的管理，這些在過去的文獻中則較少學者加以探討，因此，本研究擬以與民眾生活密不可分的小家電產業為研究對象，探討以下問題，並希望能為小家電產業帶來實質的貢獻。 一、 導致企業由『垂直整合策略』走向分工的因素為何？ 二、 企業應如何由『垂直整合策略』調整至『分工策略』？ 三、 如何進行分工後外包的管理？ 本研究以文獻探討為基礎，進行研究架構的發展，而在個案公司應具有代表性的考量下，選擇全球最大的小家電供應商-燦坤集團的小家電部門為研究對象，透過個案分析與資料整理，本研究獲得如下的結論： 一、 導致企業由『垂直整合策略』走向『分工策略』的因素 (一)、內在因素：垂直整合項目若未掌握關鍵成功因素，尤其是背離了『在可以成為核心能力的價值活動進行整合』，在經歷一定時間後，將會導致文獻中所提及的垂直整合的成本，且不斷地升高。 (二)、外在因素：當『產業規模經濟』的良性循環所彰顯的利益超越企業進行垂直整合的利益時，企業將會將『垂直整合策略』調整至『分工策略』，改以外包取代自製。所以，企業進行外包的動機，從個案公司的研究中得知，除部分項目與文獻所提的不同外，其餘項目諸如專注於核心能力，將資源聚焦，避免或減少資本支出、減少材料的損耗，及降低無效率，以取得較低的成本，改進服務的績效等，均與學者Lomas (1997) 與 Mariotti (1996) 提出的企業進行外包的動機相符。 二、 企業應如何由『垂直整合策略』調整至『分工策略』？ 關於企業由『垂直整合策略』調整至『分工策略』的方法，結合文獻與個案研究的結果，本研究認為應包含三個部分，第一是決定外包的標的，第二是遵循外包的流程，第三是掌握外包的關鍵成功因素。在選擇外包的標的上，企業應將非核心或無效率的值值活動予以外包；而在外包的流程上，有二十一項的程序必須加以遵循。 外包的流程與外包的關鍵成功因素，兩者為一體兩面。 三、 如何進行分工後外包的管理？ 關於如何做好分工後外包廠商的管理，本研究獲致的結論包含兩大部分： (一)、中心思想：企業在進行分工後的管理，必須與供應商構築穩固的關係，經由更好的協調，共同降低價值鏈中的成本，同時持續加以管理。 (二)、具體作法：此包括兩個部分，第一個部分是『建立分工後的管理作業程序』，包括改善作業流程及建立標準作業規範、組織與工作權責調整；第二個部分是『建立中衛體系運作的管理模型』。包括成立外包廠輔導小組主動協助改善外包廠之體質，包括管理、財務、技術、製程、行銷等功能，並透過衛星工廠管理辦法之建立及以衛星工廠聯誼會為溝通平台，使中心廠與外包廠之間保持連繫，發揮互相依賴、庇護、相輔相成的作用。 最後，本研究對個案公司及其他小家電企業提出如下的建議： (一)、對個案公司的建議 1、慎選有競爭力的外包廠。 2、以平等地位對待外包廠，互相合作、共存共榮。 3、快速落實合約，及標準作業規範，縮短磨合期。 4、規劃導入中衛發展中心所建議的，分工後管理外包的作法。 5、朝OVM的模式發展，研發更高附加價值的產品，以更多的專利，建立競爭障礙。 6、在中國市場重塑並發展自有品牌。 (1)、增加研發資源，積極開發符合中國人消費特點的小家電產品。 (2)、以代理、借牌、併購等方式取得國際品牌，進入中國小家電市場。 (二)、對其他小家電企業的建議 1、當產業具有產業規模大、企業數目多的特徵時，企業採取垂直整合所達成的規模經濟可以藉由產業之間的分工來達成，因此，垂直合策略與分工策略的選擇上，採取『分工策略』是較佳的策略選擇。 2、若企業因公司整體策略的需要，必須進行垂直整合時，必須把握垂直整合的關鍵成功因素(如表5-1)。 3、原本採取『垂直整合策略』的企業，若需要調整為『分工策略』時，在作法上，企業必須審視自身在『產業價值鏈』的地位，找出『核心能力』所在，集中資源予以強化；對於非核心的價值活動，則適當予以『外包』，借由『產業規模經濟』提升效率、降低成本。而為了確保『外包』的作法能夠成功，企業必須掌握外包的關鍵成功因素，選擇優秀的供應商，以公平、對等的合約與供應商建立起長期而穩定的『夥伴關係』，代替過去的『競爭關係』；同時對外包後的供應鏈進行持續的管理，如此才能成功的達成策略轉折的目的。 / To ensure sustainable development of a company, the relevant business strategies should be reviewed and adjusted from time to time, taking into account changes in the industry, dynamic status of competition and the availability of resources. Once the industry has entered the maturity stage of its life cycle, “Product Innovation” and “Process Innovation” no longer suffice the needs of a company to maintain its competitiveness in the market. “Strategic Innovation”, therefore, would be the key to maintain the vitality of an enterprise. “Strategic Innovation” implies the restructuring of value chain. To achieve this purpose, many companies adopt the traditional approach, i.e., vertical integration. With the popularity of the “Core Competency” concepts, however, the management focus has been shifted to “Vertical Disintegration”. Business entities have since paid more attention to achieving a concentrated, efficient and easily-mobile organizational structure, endeavoring to build up the company’s competitiveness by enhancing its key advantages. Value activities which do not involve the core competencies, therefore, are outsourced. From the existing literature, we can find that a lot of research has been done on both vertical integration and disintegration strategies. Less literature was found, however, about the key success factors for vertical integration, the internal/external factors necessitating strategic adjustments due to relevant changes in the external environment, methodologies for such strategic adjustments, as well as the management direction after the strategic adjustment, etc. In this research, therefore, we shall probe the following issues, focusing on the small home appliances industry: 1. What are the factors causing the shift of business focus from the “Vertical Integration Strategies” to the “Disintegration Strategies”? 2. Methodologies for companies to make strategic adjustments from the “Vertical Integration Strategies” to the “Disintegration Strategies”. 3. Outsourcing management after the disintegration process. By means of case studies and information integration, we have reached the following conclusion: I. Factors causing the shift of business focus from “Vertical Integration Strategies” to the “Disintegration Strategies”. (I) Internal Factors: Vertical integration may lead to a higher integration cost if the company failed to grasp the key success factors in the integration process, particularly if it failed to conduct the integration “within the scope of value activities which may develop into core competencies of the company”. (II) External Factors: Once the profit generated from the positive cycle of the “industrial economy of scale” has exceeded the profit resulted from the vertical integration, the company will adjust its business direction from the “vertical integration strategy” to the “disintegration strategy”, i.e., outsourcing of business rather than self-manufacturing. II. Methodologies for companies to make strategic adjustments from the “Vertical Integration Strategies” to the “Disintegration Strategies”. Based on results of documentation review and case study, we conclude that the strategic adjustments involve three parts: (1) Determine the business items for outsourcing, (2) Follow the procedures for outsourcing, (3) Grasp the key success factors for outsourcing. III. Outsourcing management after the disintegration process. Based on the results of our study, successful supplier management for outsourced business involves two major aspects: (I) Key Business Philosophy: To achieve successful management after disintegration, the company should build up a solid relationship with its suppliers and, through better coordination and mutual efforts, achieve a cost reduction for the value chain. Continuous efforts should be made in managing the outsourced business. (II) Specific Measures: This also involves two parts: (1) Establishing the “Post-disintegration Management Procedures”, including improved work flow, establishment of standard operational procedures and adjustment of organization and job contents, (2) Building up a management model for the corporate synergy system (CSS). Finally, we have the following recommendations to the target companies of our case study, as well as other small home appliances companies: (I) Recommendation to the target companies of our case study: 1. Carefully select the outsourced suppliers, ensuring their competitiveness in the market. 2. Treat the suppliers fairly. Build up a good partnership to achieve mutual prosperity. 3. Implement the contents of agreements and standard operational procedures speedily and effectively to shorten the period of mutual adaptation. 4. Introduce the methodologies for outsourcing management as recommended by the CSS Development Center. 5. Shift the business direction to the OVM model; make R&D efforts on high-value-adding products; build up barriers to competition by acquiring more patents. 6. Rebuild the brand image and develop self-owned brands in the China market. (1) Increase R&D resources. Aggressively develop small home appliances that can fully meet consumer demand in the China market. (2) Access to the small home appliances market of China through alliance with international brands, by means of distributorship, license-borrowing or acquisition, etc. (II) Recommendations to other small home appliances enterprises 1. For industries featured by large scope and number of companies, an “Economy of Scale” can be achieved by disintegration, rather than the conventional way of vertical integration. Between the options of vertical integration and disintegration, therefore, “disintegration” is a better strategy. 2. In the event that a company needs to adopt the vertical integration strategy to meet its overall strategic requirements, the company should ensure that the key success factors for vertical integration are fully grasped (Table 5-1). 3. For an enterprise contemplating a shift from the “vertical integration” strategy to “disintegration strategy”, it should first review its own position in the industrial value chain and identify its core competencies. The company should then focus its resources on enhancing its core competencies and outsourcing the value activities which do not involve core competencies, wherever deemed appropriate. In other words, the company should endeavor to improve its efficiency and lower costs by achieving an “industrial economy of scale”. To ensure the success of outsourced business, the company should also grasp the key success factors for outsourcing, select high-quality suppliers and build up a long-term and stable “partnership” with the supplier by means of a fair and equally-positioned agreement, instead of the “competitive relationship” in the past. Continuous efforts should be made to manage the value chain after the outsourcing to ensure a successful strategic change.

A proposta do presente estudo é contribuir na discussão sobre gestão da cadeia de suprimentos em ambientes integrados verticalmente. Diante deste cenário, foi sugerida a investigação da cadeia do frango brasileira para análise das vantagens, das desvantagens, dos fatores a considerar na integração vertical e na indicação de um alinhamento estratégico entre os elos. Para tanto, foi realizado um estudo de caso explanatório cujo método propõe adaptar um modelo de análise de canais de distribuição para o caso de uma cadeia de suprimentos integrada verticalmente com foco em custos. Detectou-se que a sinergia existente entre os elos de uma cadeia integrada facilita o desenvolvimento de trabalhos conjuntos na cadeia de valor, assim como a visão integrada da divisão de custos. O principal elo da cadeia do frango é o fabricante, pois além de ser o que mais agrega custo (em torno de 51%) é o gestor e centralizador que toma quase todas as decisões estratégicas. Este fato contribui expressivamente para que também acumule diversos custos da cadeia, dificilmente mensuráveis, como os custos de transação. Os resultados obtidos e as análises realizadas permitem concluir que a cadeia do frango pode ser gerenciada segundo uma estratégia híbrida: a da eficiência das operações entre os elos à jusante do fabricante e a da agilidade à montante do mesmo, oferecendo ganhos de custo e de aumento do nível de serviço. / The purpose of this work is to contribute to the discussion about supply chain management concepts for vertical integrated environments. The investigation of the Brazilian poultry chain was proposed in order to analyze the advantages, the disadvantages, the factors to be considered in the vertical integration and the indication of a supply chain strategy alignment. An explanatory case study was conducted. The method suggests to adapt a distribution chain model to a vertical integrated supply chain model, focusing on costs. It was detected that the synergy between the players of an integrated chain contributes to the development of common issues in the value chain and in the integrated cost division. The producer is the main player of the poultry chain, with approximately 51% of the total costs and is the centralizer of almost all strategic decisions. This fact contributes for the accumulating of some cost of this chain to its structure, hardly measurable, like the transaction costs. The results obtained and the analysis done allow concluding that this chain can be managed within a hybrid strategy: the efficiency of the operations in the downstream players from the producer and the agility upstream from it, offering gains from costs and high service level simultaneously.

Submitted by JOSIANE SANTOS DE OLIVEIRA (josianeso) on 2018-11-30T11:43:52Z No. of bitstreams: 1 Oly Azevedo Neto_.pdf: 358444 bytes, checksum: b613a93089618c6d9d90c5114b7ba87a (MD5) / Made available in DSpace on 2018-11-30T11:43:52Z (GMT). No. of bitstreams: 1 Oly Azevedo Neto_.pdf: 358444 bytes, checksum: b613a93089618c6d9d90c5114b7ba87a (MD5) Previous issue date: 2016-11-23 / Nenhuma / O objetivo deste trabalho é identificar as relações existentes entre o investimento externo direto, o nível de integração vertical da firma, a rigidez ambiental do país sede e a moderação que as capacidades ambientais podem exercer sobre essa variável das empresas listadas no relatório anual WIR – World Investment Report, disponibilizado pela UNCTAD – Conferência das Nações Unidas para o Comércio e Desenvolvimento no ano de 2013. É utilizada análise de dados em corte transversal (cross section) a partir da coleta de dados secundários na base de dados da UNCTAD, no banco mundial (Data World Bank), em relatórios de administração e de sustentabilidade e no Netherland Organization for Applied Scientific Research and National Institute of Public Health’s Environment Emission Database for Global Atmospheric Research de 92 empresas listada no relatório WIR, que é publicado anualmente pela UNCTAD, identificando que o investimento externo direto sofre influência negativa do nível de integração vertical levando as empresas a optarem por estruturas de mercado ao investir e que as capacidades ambientais estão positivamente relacionadas com a variável dependente. Não foram identificadas na amostra analisada relações significantes entre o investimento e a rigidez ambiental do país tampouco a influência de moderação que as capacidades ambientais poderiam exercer sobre a rigidez. / The objective of this study is to identify the relationship between foreign direct investment, the vertical integration of the firm, environmental rigidity of the host country and moderation that environmental capacity can have on this variable of the companies listed in WIR annual report - World Investment Report, released by UNCTAD - United Nations Conference on Trade and Development in 2013. It used data analysis in cross section (cross section) from the collection of secondary data in UNCTAD's database, the world bank (Data World Bank), in management and sustainability reports and Netherland Organization for Applied Scientific Research and National Institute of Public Health's Environment Emission Database for Global Atmospheric Research 92 companies listed in the WIR report, which is published annually by UNCTAD, identifying the foreign direct investment suffer negative influence of vertical integration leading companies choose to market structures to invest and environmental capabilities are positively related to the dependent variable. They were identified in the sample analyzed relations between investment and environmental stiffness of the country nor the influence of moderation that environmental capacity could have on the stiffness.

O objetivo principal da presente tese é realizar um estudo empírico acerca do efeito da incerteza sobre a forma de organização econômica da indústria petroquímica brasileira, que se caracteriza pela forte presença de integração vertical. Para tal, adotou-se como referencial teórico a Economia dos Custos de Transação (ECT). Inicialmente, foram desenvolvidos alguns conceitos e temas que seriam úteis à posterior construção de variáveis e ao próprio formato do exercício empírico. Desta forma, abordaram-se as principais visões da literatura para os conceitos de integração vertical e incerteza, assim como se apresentaram os principais pontos da ECT. O exercício empírico elaborado consistiu na realização de cross sections que visavam captar um retrato do desenho organizacional da indústria em tela em dois instantes: 1989 e 1999. O primeiro corresponde ao momento imediatamente anterior ao início de diversas transformações que iriam modificar o ambiente institucional no qual as empresas petroquímicas nacionais atuavam. Estes acontecimentos foram a abertura comercial do governo Collor, a privatização do setor e o Plano Real. O pressuposto assumido é que estas mudanças representaram um aumento permanente do grau de incerteza a que as empresas petroquímicas nacionais estavam sujeitas. A segunda cross section refere-se ao ano de 1999, dez anos após. As várias amostras constituídas foram compostas por transações envolvendo produtos petroquímicos. Dois grupos de transações foram construídos. O primeiro com transações entre petroquímicos de 1a geração e petroquímicos de 2a geração. O segundo com transações entre petroquímicos de forma geral, sem referência à posição exata na cadeia produtiva. O principal resultado obtido refere-se aos coeficientes estimados para variável representativa da incerteza. A despeito de todas as dificuldades relacionadas à mensuração deste conceito, a variável apresentou o comportamento previsto. Nas estatísticas descritivas, verificou-se um incremento da incerteza em 1999 relativamente a 1989. Nas regressões, os coeficientes estimados foram na maioria das vezes significantes e apresentaram o sinal esperado. Com relação aos demais resultados, observou-se que aqueles referentes a cross section de 1989 foram mais consistentes do que os da cross section de 1999, o que reforça o argumento de que o setor petroquímico nacional atravessa mudanças ainda não concluídas, razão pela qual não permitiram que um novo desenho de organização econômica fosse claramente estabelecido. / The main purpose of the present thesis is to perform an experimental study about the effect caused by uncertainty on the economic organization of the Brazilian petrochemical industry, which is characterized by a strong presence of vertical integration. For that, the Economy of Transaction Costs (ECT) was adopted as theoretical reference. Initially, some concepts and essays, that would be useful to the posterior variable construction and to the form of the experimental exercise, were developed. Thus, the main viewpoints in literature for the concepts of vertical integration and uncertainty, as the main topics of ECT presented, were discussed. The elaborated experimental exercise consisted in performing cross sections that aimed getting a picture of the organizational design of the industry in question in two different moments: 1989 and 1999. The first one corresponds to the moment immediately before the start of several changes that would alter the institutional environment in which the national petrochemical companies actuated. These happenings were the commercial opening of the Collor government, the privatization of this sector and the Real Plan. The assumed conjecture is that those changes represented a permanent increase of the uncertainty level to which the petrochemical industries were subject. The second cross section is related to 1999, ten years later. The several samples were composed by transactions involving petrochemical products. Two transaction groups were constituted. The first one comprises transactions between 1st and 2nd generation petrochemicals. The second one comprises transactions between general petrochemicals, with no reference to the exact position in the productive chain. The main result obtained refers to the estimated rate for the variable that represents uncertainty. In spite of all difficulties related to measuring this concept, the variable presented the foreseen behavior. In the descriptive statistics, it could be verified an increase of uncertainty in 1999 relatively to 1989. In the regressions, the estimated rates were most of the times significant and presented the expected sign. As for the further results, it was observed that those related to the cross section of 1989 were denser than those of the cross section of 1999, which reinforces the argument that the national petrochemical sector is going through changes not yet concluded, reason why a new design of economic organization has not been clearly established.

A proposta do presente estudo é contribuir na discussão sobre gestão da cadeia de suprimentos em ambientes integrados verticalmente. Diante deste cenário, foi sugerida a investigação da cadeia do frango brasileira para análise das vantagens, das desvantagens, dos fatores a considerar na integração vertical e na indicação de um alinhamento estratégico entre os elos. Para tanto, foi realizado um estudo de caso explanatório cujo método propõe adaptar um modelo de análise de canais de distribuição para o caso de uma cadeia de suprimentos integrada verticalmente com foco em custos. Detectou-se que a sinergia existente entre os elos de uma cadeia integrada facilita o desenvolvimento de trabalhos conjuntos na cadeia de valor, assim como a visão integrada da divisão de custos. O principal elo da cadeia do frango é o fabricante, pois além de ser o que mais agrega custo (em torno de 51%) é o gestor e centralizador que toma quase todas as decisões estratégicas. Este fato contribui expressivamente para que também acumule diversos custos da cadeia, dificilmente mensuráveis, como os custos de transação. Os resultados obtidos e as análises realizadas permitem concluir que a cadeia do frango pode ser gerenciada segundo uma estratégia híbrida: a da eficiência das operações entre os elos à jusante do fabricante e a da agilidade à montante do mesmo, oferecendo ganhos de custo e de aumento do nível de serviço. / The purpose of this work is to contribute to the discussion about supply chain management concepts for vertical integrated environments. The investigation of the Brazilian poultry chain was proposed in order to analyze the advantages, the disadvantages, the factors to be considered in the vertical integration and the indication of a supply chain strategy alignment. An explanatory case study was conducted. The method suggests to adapt a distribution chain model to a vertical integrated supply chain model, focusing on costs. It was detected that the synergy between the players of an integrated chain contributes to the development of common issues in the value chain and in the integrated cost division. The producer is the main player of the poultry chain, with approximately 51% of the total costs and is the centralizer of almost all strategic decisions. This fact contributes for the accumulating of some cost of this chain to its structure, hardly measurable, like the transaction costs. The results obtained and the analysis done allow concluding that this chain can be managed within a hybrid strategy: the efficiency of the operations in the downstream players from the producer and the agility upstream from it, offering gains from costs and high service level simultaneously.