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Two Faces: Effects of Business Groups on Innovation in Emerging Economies

  • Mahmood, Ishtiaq P.
  • Mitchell, Will
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    This paper argues that business groups in emerging economies exert dual effects on innovation. While groups encourage innovation by providing institutional infrastructures, groups also discourage innovation by creating entry barriers for small and non-group firms and inhibiting the proliferation of new ideas. Using OLS and panel data estimation techniques, followed by nonparametric analysis and semiparametric kernel regression, we find evidence of an inverted-U relation between group market share and innovation in industrial sectors of both Korea and Taiwan, during the 1981-1995 period. Institutional differences between Korea and Taiwan in terms of market structure and industrial policies provide useful conceptual implications from the empirical comparison.

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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/13916/1/wp2002-14a.pdf
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    Paper provided by Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University in its series CEI Working Paper Series with number 2002-14.

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    Length: 33 p.
    Date of creation: Sep 2002
    Date of revision:
    Handle: RePEc:hit:hitcei:2002-14
    Note: October 15, 2001 (Version: two_faces1n.doc) -- Work in progress: Please do not cite
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    1. repec:cup:cbooks:9780521429504 is not listed on IDEAS
    2. Härdle, W.K., 1992. "Applied Nonparametric Methods," Discussion Paper 1992-6, Tilburg University, Center for Economic Research.
    3. Servaes, Henri, 1996. " The Value of Diversification during the Conglomerate Merger Wave," Journal of Finance, American Finance Association, vol. 51(4), pages 1201-25, September.
    4. Oliver LINTON, . "Applied nonparametric methods," Statistic und Oekonometrie 9312, Humboldt Universitaet Berlin.
    5. Teece, David J., 1996. "Firm organization, industrial structure, and technological innovation," Journal of Economic Behavior & Organization, Elsevier, vol. 31(2), pages 193-224, November.
    6. Rebecca Henderson & Iain Cockburn, . "Scale, Scope and Spillovers: The Determinants of Research Productivity in Drug Discovery," Working Papers ec25/94, Department of Economics, University of Lancaster.
    7. Montgomery, Cynthia A. & Hariharan, S., 1991. "Diversified expansion by large established firms," Journal of Economic Behavior & Organization, Elsevier, vol. 15(1), pages 71-89, January.
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