Boundary choices in the pulp and paper industry.

The article presents a study which aims to shed light on the boundary choices of firms that operate in the pulp and paper industry. The study conducted interviews with senior managers of pulp and paper companies and collected comparative data on other industries while theoretical approach was based on extended transaction-cost economics (TCE). Results of the study demonstrate the relevant factors when company decision makers consider the governance choice for different activities. It demonstrates that the factors that managers take into account could be assessed through applying TCE.