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Business Groups: An Integrated Model to Focus Future Research

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  • Daphne W. Yiu
  • Yuan Lu
  • Garry D. Bruton
  • Robert E. Hoskisson
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    Abstract

    Business groups are the primary form of managing large business organizations outside North America. This paper provides a systematic and integrative framework for understanding business groups. We argue that existing theoretical perspectives of business groups pay attention to four critical external contexts, each of which draws from a specific theoretical perspective: market conditions (transaction cost theory), social relationships (relational perspective), political factors (political economy perspective), and external monitoring mechanisms (agency theory). Business groups adapt to these external forces by deploying various internal mechanisms along two key dimensions: one focuses on the distinctive roles of the group affiliates (horizontal connectedness) and the other focuses on coupling and order between the parent firm and its affiliates (vertical linkages). Based on these two dimensions, a typology of business group forms is developed: network (N-form), club (C-form), holding (H-form), and multidivisional (M-form). Utilizing this model we provide research questions which facilitate an improved future research agenda. Copyright Blackwell Publishing Ltd 2007.

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    Bibliographic Info

    Article provided by Wiley Blackwell in its journal Journal of Management Studies.

    Volume (Year): 44 (2007)
    Issue (Month): 8 (December)
    Pages: 1551-1579

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    Handle: RePEc:bla:jomstd:v:44:y:2007:i:8:p:1551-1579

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    Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2380

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    Cited by:
    1. Tan, Danchi & Meyer, Klaus E., 2010. "Business groups' outward FDI: A managerial resources perspective," Journal of International Management, Elsevier, vol. 16(2), pages 154-164, June.
    2. Locorotondo, Rosy & Dewaelheyns, Nico & Van Hulle, Cynthia, 2014. "Cash holdings and business group membership," Journal of Business Research, Elsevier, vol. 67(3), pages 316-323.
    3. Hsi-Mei Chung, 2013. "The role of family management and family ownership in diversification: The case of family business groups," Asia Pacific Journal of Management, Springer, vol. 30(3), pages 871-891, September.
    4. Hsi-Mei Chung & Shu-Ting Chan, 2012. "Ownership structure, family leadership, and performance of affiliate firms in large family business groups," Asia Pacific Journal of Management, Springer, vol. 29(2), pages 303-329, June.
    5. Lien, Yung-Chih & Li, Shaomin, 2013. "Does diversification add firm value in emerging economies? Effect of corporate governance," Journal of Business Research, Elsevier, vol. 66(12), pages 2425-2430.
    6. Ma, Xufei & Yiu, Daphne W. & Zhou, Nan, 2014. "Facing global economic crisis: Foreign sales, ownership groups, and corporate value," Journal of World Business, Elsevier, vol. 49(1), pages 87-100.
    7. Yuan Lu & Eric Tsang & Mike Peng, 2008. "Knowledge management and innovation strategy in the Asia Pacific: Toward an institution-based view," Asia Pacific Journal of Management, Springer, vol. 25(3), pages 361-374, September.
    8. Özlem Yýldýrým-Öktem, 2010. "Generational Differences In Involvement Of Family Members In Governance And Management Of Turkish Family Business Groups And Background Characteristics Of Family Members," Bogazici Journal of Economics and Administrative Sciences, Bogazici University, Department of Economics, vol. 24(1+2), pages 41-66.
    9. N. Selekler-Goksen & Özlem Yildirim Öktem, 2009. "Countervailing institutional forces: corporate governance in Turkish family business groups," Journal of Management and Governance, Springer, vol. 13(3), pages 193-213, August.
    10. Chung, Hsi-Mei, 2014. "The role of family management and ownership on semi-globalization pattern of globalization: The case of family business groups," International Business Review, Elsevier, vol. 23(1), pages 260-271.
    11. Jürgen Wandel, 2011. "Business groups and competition in post-Soviet transition economies: The case of Russian “agroholdings”," The Review of Austrian Economics, Springer, vol. 24(4), pages 403-450, December.

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