Business groups and their types

被引：97
作者：
Cuervo-Cazurra A. [1 ]
机构：
[1] Sonoco Department of International Business, Moore School of Business, University of South Carolina, Columbia, SC 29208
来源：
Asia Pacific Journal of Management | 2006年 / 23卷 / 4期
关键词：
Business groups; Diversification; Family-ownership; Theory of the firm;
D O I：
10.1007/s10490-006-9012-5
中图分类号：
学科分类号：
摘要：
We clarify what business groups are and analyze their various types. We first distinguish business groups from other types of firm networks based on the strategic relationships among companies; business groups are defined as those networks that exhibit unrelated diversification under common ownership. We then separate business groups into three types based on their ownership: family-owned, widely-held, and state-owned. We argue that each type has different agency costs and diversification logics. As a result of these differences, their performance varies, with family-owned business groups outperforming widely-held ones, and these in turn outperforming state-owned business groups. © Springer Science+Business Media, LLC 2006.
引用
收藏
页码：419 / 437
页数：18
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