Coordination Strategy and the Configuration of Interorganisational Relations

will compete. On the contrary, their integration would resu!t in a big monopoly. Similarly, electronic markets would emerge in several places simultaneously and initially be unwilling to merge. Only as competitive pressure inceases they would integrate horizontally, probably forming a national market. Thus, I agree with Schmid that electronic markets are (or better, can be) open systems technologically. However, there are seriousnontechnical reasons, why traditionally increasing computerised exchanges are unwilling to integrate horizontally, forming a 'global, open stock exchange' [7, p 4701.