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Ownership identity, strategy and performance: Business group affiliates versus independent firms in India

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  • Sumon Kumar Bhaumik

    (University of Sheffield)

  • Saul Estrin

    (London School of Economics)

  • Tomasz Mickiewicz

    (Aston University)

Abstract

We consider whether the impact of entrepreneurial orientation on business performance is moderated by the company affiliation with business groups. Within business groups, we explore the trade-off between inter-firm insurance that enables risk-taking, and inefficient resource allocation. Risk-taking in group affiliated firms leads to higher performance, compared to independent firms, but the impact of proactivity is attenuated. Utilizing Indian data, we show that risk-taking may undermine rather than improve business performance, but this effect is not present in business groups. Proactivity enhances performance, but less so in business groups. Firms can also enhance performance by technological knowledge acquisition, but these effects are not significantly different for various ownership categories.

Suggested Citation

  • Sumon Kumar Bhaumik & Saul Estrin & Tomasz Mickiewicz, 2017. "Ownership identity, strategy and performance: Business group affiliates versus independent firms in India," Asia Pacific Journal of Management, Springer, vol. 34(2), pages 281-311, June.
    • Handle: RePEc:kap:asiapa:v:34:y:2017:i:2:d:10.1007_s10490-016-9477-9
    DOI: 10.1007/s10490-016-9477-9
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    Keywords

    Emerging economies; Business groups; Entrepreneurial orientation; India;
    All these keywords.

    JEL classification:

    • J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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