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Organization and firm performance: Evidence from microdata
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Dissertation
Organization and firm performance: Evidence from microdata
2007
Overview
This research examines the relationship between organization and firm performance in a series of three papers using the U.S. taxicab industry as the empirical context for the analyses. I focus, in particular, on three features of organization that are of great importance to economists and management scholars: diversification, asset ownership and technology adoption. Performance is measured in terms of total factor productivity. Each paper examines an organizational economics research question that relates features of firm organization to firm performance. The central theme running throughout is that organizations are interrelated bundles of contracts and routines such that shocks to one aspect of the organization lead to changes along other dimensions of the firm. Understanding why organizational changes are interrelated and how such changes influence subsequent firm performance is of great importance to scholars and practitioners alike. This body of research makes three novel contributions to organizational economics. First, I demonstrate that diversification is costly in the sense that it erodes incumbent firms' competitive advantage versus start-ups, because diversification erodes the value of a firm's stock of tacit knowledge by altering the firm's routines. Second, I show that while diversification leads to costly organizational change the organizational adaptations firms make in response to diversification are necessary in the sense that they are productivity enhancing. Finally, this research connects vertical integration decisions, technology adoption and productivity using a transaction cost economics perspective that underscores the importance of interrelationships in the firms' nexus of contracts. The taxicab industry is particularly well suited for studying diversification, asset ownership, technology adoption and productivity questions. Because the taxicab industry is a geographically segmented business the nationwide taxicab industry is actually a collection of hundreds of independent city-level markets, providing considerable variation to identify the effects of interest. I exploit the fact that firms face regulated prices in their local markets to develop a precise measure of firm performance. The key organizational features studied are also measurable at an unusual level of detail. Moreover, horizontal integration between taxis and limousines changed dramatically during the sample period due to widespread regulatory changes, creating a quasi-natural experiment in lateral diversification.
Publisher
ProQuest Dissertations & Theses
Subject
ISBN
9780549168782, 0549168788
