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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
131

Knowing Which Way Is Up: Sex Differences In Understanding Horizontality And Verticality

Goodrich, Gary A. 01 May 1992 (has links)
In previous research men have been shown to obtain higher mean scores on tests of horizontality CH) and verticality CV) than do women. This study investigated the role of experiential factors in this gender difference. Undergraduate psychology students were randomly assigned to one of three treatment groups: training, enhanced training, and placebo. The pretest measure of verticality and horizontality CV/ H), training, and posttest were administered via videotape. Major findings were: men obtained higher mean V/H scores than women; V and H scores correlated significantly; and training increased performance relative to a placebo, but enhanced training was not superior to standard training. It was hypothesized that participation in athletics might eliminate the V/ H sex difference. This was supported by initial analyses of the data. However, further analyses revealed that this may have been artifactual. Errors on the V/H test were classified as undercorrections, overcorrections, and miscorrections. It was found that miscorrections corresponded to relatively low scores, inconsistent responding, and resistance to training. Scores on a generalization test substantiated al l findings from the original V/H measure.
132

Quasigeoid modelling in New Zealand to unify multiple local vertical datums

Amos, Matthew January 2007 (has links)
One goal of modern geodesy is the global unification of vertical datums so that height data from them can be properly integrated. This thesis studies the unification of the 13 disparate levelling- and tide-gauge-based vertical datums in New Zealand (NZ). It proposes a new NZ-wide single vertical datum based on a gravimetric quasigeoid model to unify the existing local vertical datums. This will also include methods to transform height data in terms of the existing datums to the new datum and vice versa. After defining and comparing the main types of height system and vertical datum used around to world, the system of heights used in NZ was shown to be normal-orthometric. Consequently, datum unification was achieved using a quasigeoid model, as opposed to a geoid model. The quasigeoid was computed by combining the GRACE-based GGM02 and EGM96 global geopotential models with land gravity data (40,737 observations) and a 56-m resolution digital elevation model (DEM). Marine gravity data came from a least-squares collocation combination of 1,300,266 crossover-adjusted ship track observations and gravity anomalies derived from multi-mission satellite altimetry. / To ensure that the best quasigeoid was computed for the NZ datasets, a number of computation processes were compared and contrasted. The Hammer chart, fast Fourier transform (FFT) and prism integration methods of computing terrain corrections (TCs) were compared. This showed that the prism integration TC is the most realistic in NZ. The mean Helmert gravity anomalies, required for numerical integration of Stokes’s formula, were computed via refined Bouguer anomalies with the prism TCs, and reconstruction with heights from the DEM used to ‘reconstruct’ more representative mean anomalies. In addition, five deterministic modifications to Stokes’s formula were compared. There was little difference between three of them, so the Featherstone et al. (1998) modification ( 0 y = 1.5°, M = 40) was chosen because it is theoretically better than its predecessors. The global geopotential, gravimetric geoid, sea surface topography and geodetic boundary-value problem approaches to vertical datum unification were then contrasted. As none was likely to be effective in NZ, a new iterative quasigeoid approach was adopted. This procedure computes an initial quasigeoid from existing data on the various local vertical datums to estimate the vertical datum offsets from co-located GPS-levelling data. These offsets were then subsequently applied to the gravity observations by way of additional reductions to the initially computed quasigeoid to reduce gravity anomaly biases caused by the vertically offset datums. These adjusted gravity anomalies were then used to compute a new quasigeoid model, and the process repeated until the computed offsets between the local vertical datums (or equivalently two quasigeoid solutions) converged, which took only two iterations. / The computed offsets were then compared with spirit-levelled height differences among adjoining datums, where these were available, giving an average agreement of 7 cm. Since the local vertical datums are effectively unified, the new national vertical datum for NZ will comprise the iteratively computed gravimetric quasigeoid model, accompanied by local vertical datums. This approach is implemented to give a new national vertical datum for NZ. When used with the appropriate offset, this enables the transformation of heights in terms of the national vertical datum to the 13 precise-levelling datums and the ellipsoidal national geodetic datum, NZ Geodetic Datum 2000.
133

Exploration of Differences in Vertical Jump Performance Between Typically Developing Children and those Identified with DCD: A kinematic and kinetic analysis

Williams, Morgan, res.cand@acu.edu.au January 2008 (has links)
This study compared the motor performance of children identified with Developmental Coordination Disorder (DCD) with those of a matched group categorised as typically developing (TD). Based on the existing literature, vertical jumping was the task selected as it is a fundamental movement skill (Gallahue & Ozmun, 2002), and a single optimal coordination pattern has been shown to exist (e.g., Bobbert & van Ingen Schenau, 1998).Within the conceptual framework developed for this enquiry, jump height, the performance outcome, was the highest level variable. Level 2 variables described the centre of mass displacement at key instants during the jumping movement. Level 3 variables identified measures of velocity, force and power, which underpin the movement, and level 4 variables described the countermovement specific to this task. This provided a more thorough analysis than previously reported in DCD literature for jumping. The objective of this study was to identify possible mechanisms of DCD in order to advance the understanding of this impairment. A cross-sectional sample (n = 165) of males and females aged between 5 and 12 years was drawn from a school in Victoria, Australia. Using the Movement–Assessment Battery for Children (M-ABC), 62 children from the sample were identified as having DCD with total impairment scores below the 15th percentile for their age-band (Henderson & Sugden, 1992). From the remaining children assessed, who all scored above the 15th percentile, 62 were matched with the DCD group to form the TD group (n= 62). Participants performed three maximal vertical jumps, standing on a single forceplate. Each child’s best vertical jump was analysed using forceplate (700 Hz) and 2D sagittal kinematic data from a single camera video (50 Hz) capture. The results confirmed previous findings that DCD children jump lower than their TD peers, although there was a considerable overlap in motor ability between the groups. Peak VCOM occurred earlier in the jumping movement in the DCD group, when compared to the TD group. This meant a longer elapsed time from the instant of peak VCOM to take-off, which was attributed to coordination error. The earlier occurrence of peak VCOM in the DCD group could be explained by the lower shank angular velocity at take-off. In addition, the DCD group produced lower jump impulse and peak power. Further probing of the jump height data revealed an interesting relationship between age band and jump height that was gender specific. It was noted that for the DCD males, less than 1% of the variance found in jump height could be accounted for by age-band. In contrast, the explained variance for jump height by age-band was 24% for the TD males. The females showed similar relationships for jump height and age-band in both groups. It was thought that this may reflect physical activity avoidance caused by greater social pressures on boys to be good at sports (e.g., Parker & Larkin, 2003).In addition, a further analysis of the DCD group data was undertaken to compare those who had difficulties in dynamic balance and those who did not. In this analysis, body mass was found to have a significant effect on leg stiffness (Kleg), and when accounted for as a covariate, greater Kleg in the DCD group with dynamic balance difficulties was found. A possible explanation is that for the DCD group with dynamic balance difficulties, the transition from joint flexion to extension during the countermovement was problematic, and resulted in excessive muscle co-activation. This study provides some possible directions for further investigations into coordination issues for DCD children. The time elapsed from peak VCOM to take-off and the shank angular velocities at take-off were identified as key indicators of a poorly coordinated jump. High levels of Kleg reflected difficulties in the transition from joint flexion to extension during the countermovement in those DCD children with dynamic balance problems. Based on these key variables and others that differentiated between groups a more parsimonious conceptual framework is presented. For future enquiry, a more holistic approach for the study of children with such impairments is recommended. This includes exploring the environment these children are exposed to in order to gain a more thorough understanding of practice and learning effects. Understanding of differences in motor ability requires an expanded framework to include information on genetic and socio-cultural factors, and their impact upon important psychology, physical fitness, nutrition, body composition and physical activity parameters.
134

Electricity Deregulation, Vertical Integration and the Importance of Independent Electricity Retailers

Donald Burtt Unknown Date (has links)
Abstract The natural progression of generators and retailers, following electricity deregulation, to vertically integrate is a contentious subject involving, at one extreme, expectations that a laissez- faire market approach will deliver economic benefits to all participants, and at the other extreme, suspicions that the unusual features of the electricity sector, in providing generators with market power, may not provide electricity consumers with an improved outcome. The objectives of this thesis were to: understand fully the drivers of generators and retailers to vertically integrate and to apply this knowledge to the Queensland electricity market to determine the financial impact on generators, retailers and consumers from vertical integration (VI). A literature review was undertaken of VI in a generic sense, noting the distinction between market contracting and ‘internalisation’, with particular reference to the writings of Oliver Williamson. The Federal Court case involving Australia’s largest electricity retailer, Australian Gas and Light Ltd, seeking approval to purchase a minority shareholding in the Victorian generator Loy Yang Power, was closely examined from the perspectives of theoretical and practical electricity sector VI integration issues. A quantitative analysis was undertaken of an assumed 60% VI of the Queensland electricity market to assess the costs and benefits to generators that vertically integrated and to consumers. The quantified generator benefits included margin elimination, savings in overheads, more rapid decision-making, and demand side management (DSM) savings in deferred capital expenditure on peaking generation and network expenditure through reduced peak demand. To support the quantitative analysis, two scenario models were developed. The first model replicates the process by which generators build up revenue certainty over time from hedge contract sales and bidding of output into the electricity grid. How generator bidding behaviour is affected by the level of hedge cover and hedge contract prices is examined, particularly in regard to how this behavior is affected by the competitive relationship between retailers and generators. The second scenario model replicates the attitude of vertically integrated generators (VIGs) towards offering DSM services by observing how the attitude of individual VIGs is affected by level of peaking generation and by the generation-to-retailing output proportion. It was determined that a combination of these features and particular market scenarios could result in some VIGs being financially worse off by providing DSM services, an important conclusion in the context of the increased community focus on energy conservation. The extent to which VIGs pass on VI and DSM benefits to consumers was calculated under scenarios of weak and strong retail competition. Of most relevance was the difference in market behaviour between retailers that had became vertically integrated, and those that had not, with the latter expected to become less competitive in both the wholesale and retail markets. This outcome was observed to provide generators with additional market power potential, a subject closely examined. The quantitative analysis of the Queensland market concluded that the maximum possible benefit that consumers could expect from VI was $138 million per annum with current DSM technology and strong retail competition, increasing to $156 million per annum if DSM technology improved, for example in regard to more cost-efficient meters. Total possible benefits to VIGs and consumers was estimated at $321 million per annum, so that consumers could expect to receive no more than 50% of total expected benefits from VI. This conclusion is not surprising because generators will only seek to be vertically integrated if they perceive clearly identified benefits from VI. The reasons why consumers are unlikely to receive benefits greater than this are: • $30 million per annum of internal savings being retained by VIGs; • VIGs achieving a minimum $60 million per annum additional revenue benefits through wholesale and retail price increases, arising from their stronger generation and retail positions; and • $75 million per annum of potential DSM benefits not being offered to consumers, because of the reluctance of VIGs to provide DSM services where the outcome could be reduced export revenue, reduced sales revenue and lower pool prices. In summary, using the Queensland market as a case study, in a strongly competitive retail market consumers could expect to receive, at the most, 50% of VI and DSM benefits. However in a weakly competitive retail market, where VIGs retain most of the benefits and are able to achieve higher wholesale prices, the outcome could instead be an overall cost to consumers. The thesis concludes with a brief discussion of policy implications and approaches to addressing key issues arising from increasing VI in deregulated electricity markets.
135

Strategic complementarities and network effects

Garcia, Filomena 10 January 2006 (has links)
This thesis deals with different forms of strategic complementarities in industrial organization problems. Chapter 2 is an attempt to develop a unified approach to endogenous heterogeneity by constructing a general class of two-player symmetric games that possess only asymmetric pure-strategy Nash equilibria. These classes of games are characterized in some abstract sense by two general properties: payoff non-concavities and some form of strategic substitutability. While the second characteristic allows to show the existence of pure strategy Nash equilibria, the second precludes these equilibria to be symmetric. Other two classes of games that always possess asymmetric, but never symmetric, pure-strategy equilibria, although they are not of strategic substitutes are also studied. This chapter also generalizes a number of models dealing with two-stage games, with long term investment decisions in the first stage and product market competition in the second stage. Chapter 3 investigates the effects of forward looking behaviour in technology adoption. The setup is an overlapping generations model where agents choose between two alternative networks taking into consideration both the installed base and the expected base. The latter element is the distinctive feature of the approach. It is shown that a unique equilibrium exists, on which agents coordinate their expectations. While exhibiting hysteresis, the equilibrium adoption path does not comply with technologies locking in. Network choices are characterized both in terms of their long run properties and the expected time of adoption. Chapter 4 studies the problem of a monopolist who produces a good with network externalities and faces the possibility of selling a new higher quality. Within the vertical product differentiation it identifies the necessary and sufficient conditions for quality improvement to take place when a good, produced by a monopolist, exhibits positive network externalities. When network effects are not very strong, the monopolist produces both the high and the low quality and thus quality improvement takes place. In this case, he will use an introductory pricing strategy for the quality that benefits from network externalities, not maximizing however the network size. As the network effect becomes more important, the monopolist will have an incentive to practise introductory pricing and produce both qualities. Finally, if the network externality is higher than the intrinsic quality differential, quality improvement does not take place. Chapter 5 deals with the problem of an incumbent producing a low quality good with network externalities that faces the threat of entry by a higher quality good. In the framework of a vertical product differentiation model, it is identified a necessary and sufficient condition under which quality improvements are spontaneously adopted along, in spite of the existence of network effects. This condition says that the intensity of network effects on consumers' preferences should not exceed twice the differential of intrinsic qualities existing between the two variants. Finally, chapter 6 is concerned with the optimal path of prices of a monopolist who operates in a network industry for a finite horizon. Agents obtain intrinsic utility from the good and from the fact that in the past there have been other consumers using it. It is observed that the monopolist has an incentive to introduce the good at initially low prices and to increase the price as the time goes by. This chapter concludes with a necessary and sufficient condition under which the initial price, and only the initial one is zero. This condition is related both with the intensity of the preferences for the network and with the time horizon of the monopolist.
136

Low voltage vertical recording preamplifier for hard disk drives

Mellachervu, Ramachandra Murthy 15 November 2004 (has links)
Higher data rate hard disk drives(HDD) and improved read channel electronics are demanding preamplifier performance be extended well beyond 1 Gb/s. Historically, preamplifier power requirements were of low priority; however, with increased demand for battery powered devices such as laptops, MP3 players, personal video recorders, andmanyother wireless hand-held devices, power consumption has become an important design parameter.Furthermore, in order to continue to increase drive capacities, new read-write head technologies(vertical recording and TGMR heads) are demanding innovative preamplifier circuitsolutions.Today's production preamplifiers possess a wide band response of 2.5 MHz-600 MHz; however next generation preamplifiers willrequire response greater than 250 KHz-1 GHz.Low corner frequencies below 250 KHz present read recovery (sleep-to-read, write-to-read, etc) challenges which can limit drive capacity. This project targets a > 2 Gb/s TGMR (tunneling giantmagneto-resistive) read path for verticalrecording HDDs. A high performance BiCMOS process (IBM's 0.5?m 5HP process)is essential due to the large transconductances, low noise and highspeed requirements of the read path's first stage. System frequency limitations at the input are a result of the large TGMR read sensor and preamplifier input capacitance. Due to read head and preamplifier manufacturingvariations, resistive feedbackaroundthe firststage is usedto seta controlled input impedance targeted to match the interconnect transmission line. Head resistance variations lead to gain variations; however, the TGMR element becomes more sensitive with larger resistance. This, to a first order approximation, acts like an automatic gain control and reduces variations in gain due to the head.
137

The impact of Global Health Initiatives and HIV and AIDS Programs on the Zambian Health System

Lundström, Tomas January 2012 (has links)
Background: The Human immunodeficiency virus infection (HIV) and Acquired immunodeficiency syndrome (AIDS) epidemic peaked in 1999, which led to an increase in funding by donors and Global Health Initiatives (GHI) to combat the epidemic. This literature review examined how the substantial influx of funding for GHI’s and HIV and AIDS since early 2000 has impacted the health system in Zambia. Method: The method used for the study was a systematic literature review.  Results: There is conflicting views and mixed evidence about whether GHIs and HIV and AIDS initiatives have benefitted the general health system. It is clear that GHIs and HIV and AIDS initiatives have added substantially to the increase in funding for health in Zambia. Furthermore, it seems likely that the special attention put on HIV and AIDS created an exclusive and skewed environment with increased capacity to tackle HIV and AIDS, but with less capacity built for health services in general. In-coming support from Global Health Initiatives and funding for HIV and AIDS in Zambia has to some extent been controlled by and led by the contributing donor, giving the Zambian authorities limited oversight of the resources. Conclusions: The influx of funding for HIV and AIDS has led to increased support for a specific disease, but it has not generated support to the health sector in general. It has also led to a fragmented approach, where HIV and AIDS have fallen outside of the regular coordination of the health sector.   Keywords: Zambia, HIV and AIDS, Health systems, vertical initiatives, strengthening, impact. / Bakgrund: The Human Immunodeficiency Virus Infection (HIV) och Acquired Immunodeficiency Syndrome (AIDS) epidemin var på sin högsta nivå 1999, vilket ledde till en kraftig ökning av resurser från givare och globala hälsoinitiativ för att bekämpa epidemin. Denna genomgång av litteraturen undersökte hur denna tillväxt av resurser sedan början av 2000-talet påverkade hälsosystemet i Zambia. Metod: Den metod som användes för studien var en systematisk litteraturgenomgång. Det finns olika slutsatser och bevis för om insatser för HIV och AIDS och globala hälsoinsatser har gynnat hälsosystemet. Resultat: Det är klart att insatser för HIV och AIDS och globala hälsoinsatser har bidragit substantiellt till finansiering av hälsosektorn i Zambia. Studien visade att det är troligt att det särskilda fokus som HIV och AIDS fick skapade en exklusiv och snedvriden miljö, med ökad kapacitet för att hantera HIV och AIDS, men med mindre kapacitet för hälsosektorn generellt. Det stöd och resurser från globala hälsoinitiativ och för HIV och AIDS som Zambia fick del av, har till en del varit kontrollerat av och letts av bidragsgivaren, vilket ledde till att Zambiska myndigheter hade begränsad kontroll över dessa resurser. Slutsats: De ökade resurser som tillkom för att bekämpa HIV och AIDS innebar en ökad satsning på dessa sjukdomar men det har bevisats att detta inte genererade tillräckligt stöd till hälsosystemet. Detta ledde också till en fragmenterad satsning, där HIV och AIDS har hanterats utanför den vanliga samordningen av hälsosektorn.   Nyckelord: Zambia, HIV och AIDS, Hälsosystem, vertikala initiativ, stärkande, effekt.
138

Transmisión vertical del VIH en nuestro medio en la época de las posibilidades terapéutico-preventivas para minimizarla

López Vílchez, Mª Ángeles 20 July 2006 (has links)
Introducción. Desde que se comunicaron los primeros casos de SIDA pediátrico, por transmisión vertical, en diciembre de 1982 han ocurrido cambios trascendentes en la profilaxis de la transmisión vertical, especialmente desde que en 1994 se publicaron los resultados del PACTG 076, que han contribuido a disminuir, de forma global la tasa de transmisión vertical de un 25% a un 2%. En Cataluña, la tasa de transmisión ha ido disminuyendo de una manera drástica, a lo largo de los años. En la publicación de F. Ramos y colaboradores, del grupo NENEXP, donde se recogen datos desde enero de 1997 hasta diciembre de 2001, se observa una tasa de transmisión vertical del 7% (IC 95%: 2,6-11,4) que desciende al 1,6% en 2000 (IC 95%: 0,2-5,6) y hasta el 0% (IC 95%: 0,0-2,9) en 2001.La prevalencia de la infección entre las gestantes catalanas, en la actualidad, es del 0,17% (SIVES, 2004). En nuestro medio, el Hospital del Mar, en Barcelona, la prevalencia de gestantes infectadas por el VIH ha sido del 0,5% en 2005.Justificación. El Hospital del Mar, debido a su ubicación y a las características de parte de su población asistida, ha sido uno de los hospitales de Cataluña con una mayor incidencia de infección por VIH en las gestantes. Hemos considerado interesante analizar lo que estaba pasando, en nuestro medio, con la profilaxis realizada, con la tasa de transmisión y los factores implicados en la misma desde que, en el año 1996, el "Departament de Sanitat i Seguretat Social de la Generalitat de Catalunya" recomendase la realización de la serología VIH a toda gestante, hasta la actualidad, para detectar aquellos factores que han sido más importantes en la transmisión y aquellos susceptibles de mejora, para minimizarla al máximo.Objetivos. 1) Analizar el número de nuevos casos de infección VIH en los hijos de las madres infectadas que han dado a luz en el Hospital del Mar. 2) Detectar la importancia de los diferentes factores de riesgo conocidos en la transmisión vertical. 3) Demostrar la importancia fundamental de identificar a las gestantes infectadas por VIH para poder realizar una profilaxis correcta. 4) Objetivar el papel del test rápido para la detección del VIH en sala de partos. 5) Detectar los fallos en la aplicación de las pautas de prevención de la transmisión vertical, con el fin de corregirlos.Pacientes y métodos. Se han incluido, de manera prospectiva, todos los recién nacidos hijos de madre VIH positiva nacidos en nuestro hospital, desde enero de 1996, fecha en la que se recomendó, en Cataluña, la realización de la serología VIH en el primer trimestre de la gestación, hasta diciembre de 2005. El total de recién nacidos incluidos ha sido 124, provenientes de 109 gestantes. Se han dividido en diferentes grupos para hacer las comparaciones entre ellos.Resultados y Conclusiones más relevantes. Del total de recién nacidos, han resultado infectados 8, lo que supone un 6,45%. En el grupo de los recién nacidos cuyas madres fueron identificadas y la profilaxis fue correcta, la tasa de transmisión baja al 3,6%. En el grupo posterior a 1999, el porcentaje de infectados ha sido del 3,8%. El resultado del modelo multivariado de regresión logística mostró como significativas dos variables, de tal manera que, aquellos recién nacidos que nacen tras una ruptura de bolsa superior o igual a 4 horas tienen 6,14 veces más posibilidades de resultar infectados y aquellos cuyas madres no han sido identificadas en el momento del parto como VIH+ tienen 8,2 veces más posibilidades de infectarse. Cuando la profilaxis es correcta, hay un 30% más de gestantes que llegan al final del embarazo con una carga viral <1000 copias/ml, respecto a aquellos casos en los que la profilaxis es incorrecta, diferencias estadísticamente significativas. Respecto a la utilización de antirretrovirales para la profilaxis, en un 25% de los infectados, no se realizó en ningún momento, porcentaje que baja al 1,3% en los casos posteriores a 1999, lo que indica una mayor implicación en el abordaje de estas gestaciones. Las cesáreas electivas son tres veces más frecuentes en el grupo serorrevertido. La identificación de la gestante como infectada ha sido un factor primordial para evitar la transmisión vertical del VIH. La realización del test diagnóstico rápido del VIH en sala de partos, en gestaciones en las que se desconoce la serología materna para el VIH, es fundamental para establecer medidas preventivas y evitar la transmisión de la infección al recién nacido. Pese a tener medidas para evitar la transmisión vertical, los porcentajes de profilaxis correcta son bajos y susceptibles de una gran mejoría.
139

Adaptive Vertical Handoff for Integrated UMTS and WLAN Networks

Bai, Liping 26 October 2007 (has links)
Next-generation wireless networks have been envisioned to be an integration of heterogeneous wireless access networks such as UMTS (Universal Mobile Telecommunication Networks) and the IEEE 802.11 based WLAN (Wireless Local Area Networks). It is an important and challenging issue to support seamless vertical handoff management in such an integrated architecture that provides the mobile users uninterrupted service continuity anywhere, any time. In such a networking environment, the signaling delay of the vertical handoff is not fixed due to the traffic load in the backbone Internet, wireless channel quality and the distance between a mobile node and its home network. However, the currently handoff solutions implicitly considers the signaling delay as a constant value. In this thesis, we study a typical link layer assisted handoff, identifying its deficiency due to the considerably large handoff delay. We propose an adaptive vertical handoff management scheme for integrated UMTS and WLAN networks. The proposed scheme incorporates the idea of pre-handoff with adaptive handoff threshold. We estimate the handoff signaling delay in advance, therefore, providing the delay information required for making an adaptive handoff decision. Instead of setting a fixed threshold, an adaptive handoff threshold value is determined for every single MN based on the estimated handoff signaling delay. The RSS and the RSS's rate of change are used to determine the estimated handoff time instant. Extensive simulation has been conducted to verify the performance of the proposed handoff scheme.
140

Vertical Firm Boundaries: Supplier-Customer Contracts and Vertical Integration

Williams, Ryan M 05 May 2012 (has links)
I empirically examine the choice of a firm’s vertical boundaries—specifically, the decision to use supplier-customer contracts instead of either using markets or vertical integration. I examine the determinants of supplier-customer contracts using data on a customer’s contractual purchase obligations with its suppliers. Contracting propensity is positively related to supplier relationship-specific investments (RSI), the supplier’s relative bargaining power, and vertical integration costs, and negatively related to contracting costs, alternative sources of information about the customer, and the percentage of a customer’s input traded on financial markets. I also find that customer firms which have product market contracts with their suppliers have better relative performance. These performance effects are enhanced by relationship-specific investments and are robust to corrections for endogeneity. Additionally, I examine the choice between vertical integration versus supplier-customer contracts and find that the choice is predicted by the type of RSI. Consistent with theory, RSI measured using tangible (intangible) assets are positively related to integration (contracts). Further, positive (negative) shocks to industry-level intangible investment are related to increases in a firm’s contracting activity and decreases (increases) in the level of vertical integration, while positive (negative) shocks to industry-level tangible investment are related to decreases in contracting activity and increases (decreases) in the level of vertical integration. My results suggest that market frictions play an important role in shaping supplier-customer contracting activity and firm boundaries.

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