Vertikale Integration und Unternehmenserfolg: eine empirische Untersuchung in der Formel 1

Die neue Theorie der Unternehmung befasst sich unter anderem mit der zentralen Frage, wie sich vertikale Integrationsentscheidungen auf das Investitionsverhalten von Unternehmen und deren Gewinne auswirken. In der Formel 1 kann seit dem Jahr 2002 eine Tendenz zur Gründung oder Übernahme von Rennställen durch große Automobilkonzerne beobachtet werden, die bisher nur als Motorenlieferanten auftraten. Die vorliegende Untersuchung zeigt, dass die vertikale Vorwärtsintegration von Automobilkonzernen den Teamerfolg in der Formel 1 steigert. Es wird insbesondere deutlich, dass vertikal integrierte Teams höhere Investitionen tätigen und dadurch die Qualität der Fahrer und die technische Qualität der Rennwagen verbessern. Diese Faktoren wirken signifikant auf den Rennerfolg. According to the (new) theory of the firm vertically integrated firms might under certain conditions outperform disintegrated firms. In particular, in a situation with high transaction specific investments and measurement problems concerning individual performance an underinvestment problem may arise. In this paper we show for Formula One motor racing that integrated firms solve arising underinvestment problems more efficiently than disintegrated firms and that the decision to integrate positively affect the firm’s performance.

Vertical integration and information sharing — an empirical investigation in the German apparel industry

Despite the astounding success of the fast fashion retailers, the management practices leading to these results have not been subject to extensive research so far. Given this background, we analyze the impact of information sharing and vertical integration on the performance of 51 German apparel companies. We find that the positive impact of vertical integration is mediated by information sharing, i.e. that the ability to improve the information flow is a key success factor of vertically integrated apparel supply chains. Thus, the success of an expansion strategy based on vertical integration critically depends on effective ways to share logistical information.

A climatological analysis of high-precipitation events in Dronning Maud Land, Antarctica, and associated large-scale atmospheric conditions

The link between high precipitation in Dronning Maud Land (DML), Antarctica, and the large-scale atmospheric circulation is investigated using ERA-Interim data for 1979–2009. High-precipitation events are analyzed at Halvfarryggen situated in the coastal region of DML and at Kohnen Station located in its interior. This study further includes a comprehensive comparison of high precipitation in ERA-Interim with precipitation data from the Antarctic Mesoscale Prediction System (AMPS) and snow accumulation measurements from automatic weather stations (AWSs), with the limitations of such a comparison being discussed. The ERA-Interim and AMPS precipitation data agree very well. However, the correspondence between high precipitation in ERA-Interim and high snow accumulation at the AWSs is relatively weak. High-precipitation events at both Halvfarryggen and Kohnen are typically associated with amplified upper level waves. This large-scale atmospheric flow pattern is preceded by the downstream development of a Rossby wave train from the eastern South Pacific several days before the precipitation event. At the surface, a cyclone located over the Weddell Sea is the main synoptic ingredient for high precipitation both at Halvfarryggen and at Kohnen. A blocking anticyclone downstream is not a requirement for high precipitation per se, but a larger share of blocking occurrences during the highest-precipitation days in DML suggests that these blocks strengthen the vertically integrated water vapor transport (IVT) into DML. A strong link between high precipitation and the IVT perpendicular to the local orography suggests that IVT could be used as a “proxy” for high precipitation, in particular over DML's interior.