• 1 Introduction
  • 1.1 Research motivation and propositions
  • 1.2 Structure of the paper
  • 2 Derivation of propositions and methodology
  • 2.1 Derivation of propositions
  • 2.2 Data source and methodolody
  • 2.3 Representativeness of database
  • 2.4 Assignment of business foci
  • 3 Evidence on propositions' empirical validity
  • 3.1 Proposition 1: Centralization of value chain elements
  • 3.2 Proposition 2: Standardization of corporate spheres
  • 3.3 Proposition 3: 'Power Vacuum'
  • 3.4 Proposition 4: 'Power Depletion'
  • 4 Conclusion and outlook
  • References
  • Appendix
  • A Sample representativeness
  • B Descriptive sample statistics
  • C Assignment of business foci via modified CAP-model