Vertical Integration and Internet Strategies in the Apparel Industry
研究了服装企业如何应对互联网带来的经济冲击，发现垂直整合的零售商（如Gap）比非整合品牌（如Nautica）更早开展在线销售，且产品在线可得性更高，这归因于非整合品牌面临的合同障碍、协调成本和激励问题。
We explore the relationship between vertical scope and the ability to respond to a significant economic shock by studying how firms in the apparel industry have adapted to the Internet. We find that vertically integrated specialty retailers, e.g., The Gap, tended to start on‐line sales sooner than non‐integrated vendors, e.g., Nautica, and department stores. We also find that the products of vertically integrated retailers are more available on‐line than those of non‐integrated vendors. These results are consistent with greater contractual barriers, coordination costs and incentive problems that non‐integrated brands face relative to integrated companies in responding to the e‐commerce opportunity.