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| Tekijä: | Bogaard, M. A. Van den Spekle, R. F. |
| Otsikko: | Reinventing the Hierarchy: Strategy and Control in the Shell Chemicals Carve-Out |
| Lehti: | Management Accounting Research
2003 : JUN, VOL. 14:2, p. 79-93 |
| Asiasana: | MANAGEMENT CONTROL STRATEGY TRANSACTION COSTS RESEARCH |
| Kieli: | eng |
| Tiivistelmä: | This paper reports on a major portfolio restructuring at Shell. The restructuring involved the strategically motivated divestment of a significant part of Shell's highly integrated chemical business. The authors study this event and- particularly-the related control issues, using transaction cost economics (TCE) as a basic frame of reference. The analysis shows that many of the problems encountered by Shell in this process are strongly related to asset specificity and the need for adaptive mutual coordination and integration. In such a situation, TCE reasoning suggests internal (hierarchical) governance to prevail because of its superior ability to foster coordinated adaptation. Shell, however, opted for hybrid control. |
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