1、 4 外文翻译 原文 Business-to-Business Electronic Commerce Material Source: Journal of Economic Perspectives.2000(11) Author:David Lucking-Reiley and Daniel F. Spulber Market Structure and Ownership of B2B Intermediaries At the formative stage of B2B e-commerce, segments of the intermediary marketplace app
2、eared to be highly competitive. There were hundreds of entrants with projections of thousands more(Latham, 2000, p.3).Rapid initial entry suggests that entry costs were low relative to expected returns. Entry costs also appeared to be low because companies could rent communications and computer faci
3、lities without incurring irreversible capital costs. Moreover, market entrants could outsource operation of their website to specialized service providers, the so-called e-commerce platforms. For example, Ariba and CommerceOne developed software platforms for running e-commerce marketplaces (either
4、via fixed-price catalogs or via bidding to determine prices ), and they provided the software to a number of companies. A wide variety of softw are applications became available. Thus, for many B2B companies entry costs were primarily focused on the design of e-commerce services and on marketing and
5、 sales expenditures to attract buyers and sellers. Returns to scale and the importance of liquidity suggest that eventually only one or two markets will operate in each product or service category.Economies of scale result from the fact that creating an Internet-based market involves large fixed cos
6、ts , while the marginal costs of providing transaction information to market participants appear to be near zero. Moreover, as the number of participants at a site increases, buyers and sellers both find it easier to realize transactions in a market, so that a greater number of sellers attracts more
7、 buyers and conversely a greater number of buyers attracts more sellers. Accordingly, buyers and sellers have an incentive to trade on the highest- volume exchange. These scale and liquidity effects would be reduced if industries managed to settle on open standards for the exchange of information ab
8、out products because then a smaller exchange could easily gather information and trading partners from a larger exchange, but it is unclear whether such interoperability 5 between markets will materialize. The history of commodity futures markets demonstrates that new markets often can fail. Carlton
9、 (1984, p. 256) observes that between 1921 and 1983, 180 different futures contract markets existed, with an average lifetime of less than 12 years. Those contract markets founded after 1921 had an average lifetime of about nine years, with only three specific commodity contracts continuously listed
10、 in the Wall Street Journal for the entire period studied. An individual futures exchange can encompass many futures contract markets, so the failure of an individual market need not alter the lifespan of futures exchanges. Carlton points out that futures exchanges compete with each other for volume
11、, and that the industry has tended to converge to highly concentrated market structures. The rate at which concentration takes place in B2B e-commerce will depend on the speed at which buying and selling migrates to the Internet, what sorts of intercompany transaction mechanisms prove popular, and w
12、hat methods evolve for standardizing transactions of goods that come in many closely related varieties.Some concentration appears to be occurring globally in equities exchanges. For example, the Paris, Brussels and Amsterdam exchanges have merged to form the Euronext exchange. This concentration of
13、equities exchanges occurred partly in response to the efficiency of electronic communications networks such as Instinet, Island and Archipelago, which had captured 30 percent of NASDAQ trades in the United States ( Morgens on, 1999). Consolidations in financial markets suggest that the proliferation
14、 of B2B exchanges is likely to be a short-run phenomenon, with eventual concentration of volume in specific markets through mergers and by the exit of smaller exchanges. Industry reports and our own observations of dozens of e-commerce sites indicate that less than 15 percent of B2B exchanges were a
15、ctively operating markets. Many were “vaporware,“ premature announcements designed to stake out market territory for companies before their service was actually available. Some observers predicted substantial shakeouts within several years as the markets become established (King, 2000). There are se
16、veral different forms of ownership of B2B e-commerce companies: independent firms that operate a web site, traditional dealers who also operate online markets, and industry-operated exchanges. It is not clear whether one type of ownership structure will be more successful than others. Many early B2B
17、 e-commerce companies were independent startups financed by 6 venture capital. Some, like VerticalNet, became publicly traded companies. By mid-2000, there were at least 600 online trading exchanges funded by venture- capital firms ( Latham, 2000, p. 3). ChemConnect also included customers BASF and
18、Dow as equity partners , while PaperExchange included customers International Paper and Staples. Many established distributors are shifting part of their business online or taking equity shares of online markets, as noted previously. At least to date, there are no prominent examples of an existing d
19、istributor being displaced by a purely online business (Eriksen, 2000, p. 7). DoveBid, a decades-old industrial machinery auctioneer that recently entered into online auctions, has established business arms for value-added transportation, appraisal, and inspection services.The on-line chemical marke
20、tplace Chempoint is a subsidiary of the traditional distributor Royal Vopak. Other large established dealers entering B2B e-commerce include electronics and computer industry companies such as Arrow Electronics, Avnet, Ingram Micro, and Tech Data. Alliances of established manufacturers announced pla
21、ns to sponsor market places. These industry-sponsored exchanges base their strategy on the idea that the technology of Internet marketplaces is relatively easy to reproduce, and that the most important asset of an intermediary is the business of its key buyers and sellers. For example, Weirton Steel
22、, LTV and Steel Dynamics formed Metal Site, which conducts thousands of transactions monthly.Sears, Carrefour, and several other major retailers started GlobalNetExchange to organize purchases from over 50,000 vendors. Boeing, Lockheed Martin, BAE Systems, and Raytheon formed an exchange for aerospa
23、ce parts and services with the potential for over $70 billion in business with 37,000 suppliers. Similarly, International Paper ( despite its previous equity investment in PaperExchange) joined with Georgia Pacific and Weyerhaeuser to announce the ForestExchange trading exchange for paper and forest
24、 products. By mid-2000, it was estimated that 60 buyer-dominated consortia, representing over 278 companies and $3 trillion in annual purchasing, planned to establish their own electronic markets rather than relying on independent exchanges (Roberti, 2000) . The establishment of B2B exchanges has ra
25、ised several critical antitrust issues. Antitrust policy makers are concerned that B2B web sites will allow competitors to exchange price information thus facilitating collusion to fix prices. Also, antitrust authorities worry that B2B web sites will foreclose participation by competitors, leading t
26、o their exclusion from segments of the market.The FTC negotiated with the 7 auto makers regarding the independence of the industry-sponsored parts exchange Covisint (Leonhardt, 2000). These concerns recall antitrust scrutiny of airline computer reservation systems that alleged collusion, exclusion a
27、nd biased listings. Buyer-or seller-dominated web sites allegedly could become mechanisms for the exercise of market power. In industry- sponsored exchanges as they have been announced, ownership tends to be on the side of the market with the greatest concentration of market power; for example, few
28、buyers and many suppliers in automotive parts, many buyers and few suppliers in paper products. In contrast, smaller buyers and sellers may favor independently-owned exchanges offering transparency in execution of trades and up-to-date pricing information ( Brown,2000). Competition between exchanges
29、 should create incentives to avoid foreclosure or the exercise of market power. Owners of exchanges have incentives to increase volume and to foster liquidity by attracting more buyers and sellers, which should in turn lead to the development of independent neutral exchanges. Effects of E-commerce o
30、n the Organization of Firms Ronald H. Coases (1937) classic article introduced the concept of transactions costs.Coase explained that the costs of using the market were an important determinant of whether firms would carry out an economic activity within their organization or rely on purchases from
31、other firms. When using the market is costly relative to management costs, companies have an incentive to vertically integrate. Yet, outsourcing is compelled by the buyers need for flexibility and focus, supplier economies of scale and scope, and supplier expertise. To the extent that e-commerce tec
32、hnology lowers the costs of intercompany transactions, it should tip the balance toward greater use of external markets. The potential effects of B2B e-commerce extend beyond saving money on transactions between existing firms. Cost and allocative efficiencies in e-commerce suggest a more fundamenta
33、l change in the way that businesses are organized. Vertically integrated firms engage in substantial internal sales and procurement activities. With B2B e-commerce, such vertically integrated companies might reorganize to outsource production of goods and services that were previously produced inter
34、nally, as well as outsourcing of the management of these transactions. For companies that purchase externally, B2B e-commerce intermediaries would substitute for many of the activities of company purchasing, sales, marketing, and even accounting departments. As market transaction costs fall with the
35、 maturation of 8 business-to-business e-commerce, outsourcing and vertical disintegration will occur, resulting in more independent entities along the supply chain. The automobile industry offers a vivid example of this change. At the beginning of the 20th century, the automobile industry exhibited
36、a strong preference for vertical integration. Ford had a slogan:“ From Mine to Finished Car, One Organization“ (Casadesus-Masanell and Spulber, 2000). By 1920, General Motors “had extended its scope so that not only all the engines used in its cars, but a large proportion of such units as gears, axl
37、es, crankshafts, radiators, electrical equipment, roller bearings, warning signals, spark plugs, bodies, plate glass, and body hardware, were produced either by a General Motors unit or by a subsidiary“ (Edmonds, 1923). But by the beginning of the 21st century, the automobile industry had begun to r
38、eevaluate its organizational structure. GM had spun off its parts manufacturing unit Delphi Automotive Systems Corp, thus creating the worlds largest auto parts supplier with over 200,000 employees . Similarly, Ford had spun off its Visteon parts division in summer 2000, converting internal transact
39、ions into B2B transactions. GM, Ford, and DaimlerChrysler have announced a plan to start a company called Covisint that will handle auto parts transactions from suppliers. The supply chains of these three companies totals almost $250 billion, so if it succeeds, Covisint has the potential to be one o
40、f the largest business on the Internet(Moore and Trenker, 2000). The pattern of greater reliance on coordination through markets and less emphasis on vertical integration and organizational governance seems likely to proliferate. 译文 B2B电子商务 资料来源： Journal of Economic Perspectives.2000(11) 作者： David L
41、ucking-Reiley and Daniel F. Spulber B2B媒介中的市场结构与所有权 在 B2B电子商务形成的阶段中，市场中的媒介环节的竞争相当激烈。在这场竞争中有成千上百的人（ Latham,2000,p .3）在初次进入竞争中时，都想以低的成本费用来获取高的回报。公司之所以希望通过租用方式来获得通讯设备与电脑设施，是因为降低投入的费用，从而降低投资 费用的不可逆转性。此外，市场参与者可能会将他们的网站外包给专业的网站运营服务提供商，这就是所9 谓的电子商务平台。例如， Ariba和 CommerceOne开发运营的电子商务交易市场软件平台（通过固定的价格表或是招标确定价格
42、），和他们所提供的软件公司。这让多种多样应用软件的出现成为可能。因此，许多 B2B公司主要将投资集中在电子商务服务的设计，市场推广与销售开支方面，以此来吸引买家和卖家。 规模报酬和资产流动的重要性表明了，最后只有一两个市场会将每个产品和服务放在电子商务平台上来运作。根据规模经济效应，要创造一个网 络环境的市场需要大量的资金投入，不然以提供交易信息条件下的为市场参与者的边际成本将接近零。此外，随着一个网站中的参与者的增加，买家与卖家都会意识到交易的容易性，所以一定数量的卖家能够吸引更多的买家，相反的，一定数量的买家能够吸引更多的卖家。因此，有大量交易者的场所能够刺激买家和卖家的交易。这些规模与流
43、动性将简化为一个开放的行业标准，而去满足产品信息的交流，因为一个小的交易场所比起大的交易场所，能够更容易收集信息和找到商业合伙人，但是目前还不清楚这种互操作性是否能够在市场实现。 商品期货交易市场的历史表明新的 市场往往会失败。卡尔顿指出， 1921年到 1983年之间， 180个不同的期货合约市场的存在平均寿命不足 12年。在 1921年成立的合约市场的平均寿命大概为 9年，只有 3个特殊的商品合约不断地在华尔街日报中推出每个阶段的研究。个人期货市场可以出现在很多期货合约市场，所以，个人市场不需要因为期货交易的寿命而发生改变。卡尔顿指出，期货交易竞争是各自数量的竞争，以及行业经趋向于市场结构
44、的集中。 要集中提高 B2B电子商务的发展，就要依靠买卖转移到互联网的速度，什么样的公司之间的交易机制先进，以及什么样的方法使得商品交易标准 化，促进相关多样化。有一些目光开始关注于全球交易的公平性，例如巴黎、布鲁塞尔和阿姆斯特丹已经合并形成了欧洲证券交易所。集中于公平性交易在一定程度上对电子通讯网络的效益起了作用。如 Instinet， Island 与 Archipelago，其中已经占 美国纳斯达克交易 的百分之三十（ Morgens on, 1999）。 联营体在金融市场表明， B2B的扩散可能只是一个短暂的现象，通过兼并与关闭比较小的交易场所，最终集中于一些特殊市场。根据行业报告与许
45、多电子商务站点表明，只有不到百分之十五的 B2B交易市场正在积极运作。 许多“雾件”在没有证实他们的服务实际上是否可用之前，过早的公布了对市场领域进行监视的结果。一些观察者预测，在几年内随着市场的建立，这些将被大量的淘汰（ King, 2000）。 B2B电子商务公司有几种不同形式的所有权：独立的公司运营一个网站，传统的经销商运营在线市场，产业运作交易。目前尚不清楚是否有一种所有制结构比其他的更成功。 许多早期的 B2B 电子商务公司是由风险资本资助的。到 2000 年年中，至10 少有 600家网上交易的风险资本公司成立。 许多老牌的经销商将其部分业务转移到网上，或是将其部分产权在在线市场上
46、分配。至少到今天为止，没有一个经销商将其业务完全的转移到网络上。DoveBid，一个几十年的老工业机械拍卖商，在最近通过网络进行拍卖，现在已经有一些商业手段，如增值运输，鉴定和检查服务。在线化工市场 Chempoint，是一个传统经销商皇家孚宝公司的一个子公司。另外其他大型经销商有建立B2B电子商务的包括艾睿电子，安富利，英迈，技术数据这些电子和计算机行业的公司。 制造商会盟宣布的计划是将赞助市场。在他们认为互联网交易市场的技术，是在相对比较 容易复制的前提下，他们才进行产业赞助交流，最重要的是，业务的媒介是吸引买家与卖家的关键。例如，威尔顿钢铁，该网站交易的人数为每月数千人。破音，洛克西德马
47、丁公司， BAE系统公司和雷声公司有航空部件和服务的业务超过 700 亿美元和 3.7 万的供应商。同样的，国际纸业与格鲁吉亚加入太平洋和惠好公司，进行对纸张和森林产品的贸易交流。在 2000年年中，估计有 60个买方主导的国际财团，提出超过 278个公司的参与和 3万亿的采购计划，计划建立他们所有的电子市场，比依靠独立的市场要好的多（ Roberti, 2000）。 建立 B2B交流时提出几个有关反垄断的问题。反垄断政策执行者担心 B2B网站使得竞争对手通过交流价格信息，相互勾结，操纵价格。此外，反垄断当局担心 B2B网站被竞争对手取消抵押品赎回权，导致该网站从细分市场中被排挤出来。这些现象
48、使得反垄断组织调查计算机预定系统中涉嫌勾结，排斥和偏见的做法。买房或卖方主导的网站据称可能成为市场行驶权利的机制。 在行业赞助交流中，他们表明，所有权趋向于市场力量集中的一边，例如，这种情况出现在很少的买家与很多的汽车零部件供应商之间，或是很多买家与很少的纸制品供应商之间。与此相反的，规模较小的买 家和卖家可能赞成具有透明的制度和最新价格信息的独立的交易场所。交易场所之间的竞争应该建立激励机制，以避免丧失抵押赎回权或是市场行使权。交易场所的拥有者应该以增加数量与流动性，从而来吸引更多的买家和卖家，如果情况相反，则应该发展独立，自然的交易场所。 电子商务对企业组织的影响 Ronald H. Co
49、ases (1937)的经典文章介绍了交易成本的概念。 Coase解释说，在一个公司是否会在他们组织内部生产或是从其他公司购买的经济活动中，利用市场成本是一个重要的因素。当利用市场是一个相对昂贵的 管理费用时，公司鼓励进行垂直管理。然而，外包是迫于买方需要灵活性和针对性，和供应商的经济规模和范围，以及供应商的专业知识。在某种程度上，电子商务降低了11 公司间的交易成本，使得外部市场达到平衡。 B2B电子商务潜在的影响不仅仅是节约了公司之间的交易成本。电子商务成本配置中，建议要根本改变商业的组织方式，垂直综合管理的公司从事大量的内部销售和采购活动。在进行 B2B电子商务中，这种垂直综合管理的公司可能将原先由公司内部生产的产品或是服务外包出去，同时也有交易管理的外包。对于公司外部购买， B2B电子商务媒介将会取代公 司的许多活动，如采购，销售，市场甚至是会计部门。随着 B2B电子商务的成熟，使得市场交易成本下降，外包与垂直非一体化形式的出现，使得许多独立的实体形成整个供应链。 汽车行业提供了这种变化的一个生动的例子。在 20世纪初，汽车行业都偏向于垂直统一的管理模式。福特公司有一个口号：“从我到成品汽车，一条龙”（ Casadesus-Masanell and Spulber, 2000）。到 1920年，通用汽车“已经扩大了生产范
