Business Groups in East Asia: Financial Crisis, Restructuring, and New Growth
- Chang, Sea-Jin(Professor of Business Administration, Korea University)
The 1997 Asian Crisis principally affected Thailand, Indonesia, Malaysia, and Korea, as well as other East Asian countries heavily dependent on intra-regional trade. Banks and other financial institutions quickly become insolvent, and heavily indebted industrial firms went bankrupt. Many of these firms were affiliated with the business groups of this region, yet most groups did not immediately collapse, indeed they proved remarkably robust, some surviving and even prospering. This book examines these East Asian business groups and their subsequent restructuring following the Asian Crisis. East Asian nations embarked on very different trajectories to this common external shock. The Asian Crisis affected the inter-relationships among the socio-cultural environment, the state, and the market of each country quite differently and had distinct effects on the operations of these countries' business groups. This slow yet divergent pattern of development provides evidence against theories of rapid global convergence. Yet East Asian business groups face an uncertain future. Foreign investors' influence has increased substantially since the crisis, as East Asian governments had to accommodate their demands to keep attracting foreign capital. Governments supervise banks more closely and have loosened restrictions on mergers and hostile takeovers, further strengthening the discipline of the market. Various entry barriers that had inhibited foreign multinationals from competing in national markets were lifted, exposing business groups to intensified foreign competition. Under these new conditions, business groups in East Asia should reconfigure their business structures and adjust their corporate governance systems to regain momentum for further growth. Business groups will continue to be important vehicles for the sustained future growth of this region, and this book presents a substantial amount of new data on this, which will be of interest to academics, researchers, and advanced students of East Asian business, and business practitioners working within the region. Contributors to this volume - Christina Ahmadjian , Professor of Management, Hitotsubashi University Graduate School of International Corporate Strategy, Tokyo, Chi-Nien Chung, Assistant Professor, Department of Management and Organization, NUS Business School, National University of Singapore, Sea-Jin Chang, Professor of Business Administration, Korea University, Edmund Terence Gomez, Associate Professor, Faculty of Economics & Administration, University of Malaya, Donghoon Hahn, Professor of International Studies, Catholic University of Korea, Alberto Daniel Hanani, Senior Faculty, University of Indonesia, Keun Lee, Professor of Economics, Seoul National University Ishtiaq Pasha Mahmood, Assistant Professor, NUS Business School, Piruna Polsiri, Lecturer, Department of Finance, Dhurakijpundit University, Thailand, Lai Si Tsui-Auch, Associate Professor, Nanyang Business School, Nanyang Technological University of Singapore, Yupana Wiwattanakantang, Associate Professor at the Center for Economic Institutions (CEI), Institute of Economic Research, Hitotsubashi University, Japan,
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|This book is provided by Oxford University Press in its series OUP Catalogue with number 9780199287345 and published in 2006.|
|Contact details of provider:|| Web page: http://www.oup.com/|
|Order Information:||Web: http://www.oup.com/|
- Whalley, Jason & Curwen, Peter, 2011. "Third time lucky? An exploration of Hutchison Whampoa's involvement in the mobile telecommunications industry," 22nd European Regional ITS Conference, Budapest 2011: Innovative ICT Applications - Emerging Regulatory, Economic and Policy Issues 52188, International Telecommunications Society (ITS).
When requesting a correction, please mention this item's handle: RePEc:oxp:obooks:9780199287345. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Economics Book Marketing)
If references are entirely missing, you can add them using this form.
Follow series, journals, authors & more
New papers by email
Subscribe to new additions to RePEc
Public profiles for Economics researchers
Various rankings of research in Economics & related fields
Who was a student of whom, using RePEc
Curated articles & papers various economics topics
Upload your paper to be listed on RePEc and IDEAS
Blog aggregator for economics research
Cases of plagiarism in Economics
Job Market Papers
RePEc working paper series dedicated to the job market
Pretend you are at the helm of an economics department
Services from the StL Fed
Data, research, apps & more from the St. Louis Fed