The Measurement of Vertical Integration
构建纵向一体化指数，检验纵向一体化能否降低成本或风险并促使更多企业整合，基于COMPUSAT数据库的随机样本发现纵向一体化水平上升，与Laffer的结论相反。
An index of vertical integration is constructed as a tool to examine how the average level of vertical integration has changed over time. The hypothesis that if vertical integration can lower costs or reduce risks, more firms will integrate vertically is subjected to an empirical test using the Vertical Industry Connection index. A randem sample of firms is selected from the COMPUSAT data base. The results support the contention that vertical integration has increased in contrast with Laffer's findings. 17 references, 10 figures, 3 tables.