Abstract
This paper applies the transaction cost framework to the organisation of product sourcing and development (PS&D) activities within the popular music industry. Two firm types characterise the industry and this particular set of activities; large multinational firms (‘majors’) and smaller regionally bound companies (‘independents’). We find that the Transaction Cost Economies framework of Oliver Williamson (1985, 1999) provides only a partial explanation for the observed hybrid organisational structures established by the two firm types. A more sensitive model can be achieved by including a number of moderating variables drawn from the socially constructed and situationally dependent idiosyncrasies of the assets involved in the PS&D activities under consideration.
Original language | English |
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Pages (from-to) | 57-79 |
Number of pages | 23 |
Journal | Journal of Cultural Economics |
Volume | 28 |
Issue number | 1 |
DOIs | |
Publication status | Published - 2004 |