Table Of Contentthe oxford handbook of
BUSINESS GROUPS
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the oxford handbook of
.......................................................................................................................................................................
BUSINESS
GROUPS
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Edited by
ASLI M. COLPAN, TAKASHI HIKINO,
and
JAMES R. LINCOLN
1
3
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A
CKNOWLEDGEMENTS
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We wish to express our gratitude to the many individuals and organizations
that helped bring this book to fruition. First and foremost, we are deeply indebted
to Mizuho Securities Co., Ltd., whose generous contribution to the Graduate
School of Management at Kyoto University provided the financing that carried the
project from the earliest planning stages to the preparation and publication of
this volume. Mizuho’s support of a highly academic enterprise demonstrates
the company’s enlightened recognition of the value of international business
scholarship.
Other institutional debts are to Kyoto University’s Graduate School of Manage-
ment and Doshisha University’s Institute for Technology, Enterprise and Competi-
tiveness for their support of the international conference in the fall of 2007, which
initiallybroughtthecontributorstothevolumetogetherinastimulatingexchangeof
ideasandperspectives.Thatconferenceprovidedthefoundationonwhichthisbook
hassincebeenbuilt.
Although we lack space here to acknowledge the many individuals who contrib-
uted to the substantive workof the volume, we dowish to give explicit recognition
to Kazuhiro Asakawa, Mason Carpenter, Michael Carney, Will Mitchell, Keetie
Sluyterman,andHughWhittaker.
We are truly grateful for the able assistance supplied by the team of editorial
professionals at Oxford University Press who oversaw the compilation, editing,
production, and marketing of the volume. We particularly thank the leader of
that team and our partner at OUP, David Musson, the Business and Management
Editor,forhisdecisiontotakeontheproject,hisskillanddiligenceincoordinating
its many facets, and his patient and thoughtful encouragement along the
way. His commitment and support were absolutely critical to this book becoming
areality.
OthersontheOUPteamwhodeservementionincludeMatthewDerbyshireand
EmmaLambert,AssistantCommissioningEditorsatOUP,andAbigailCoulsonand
CarolBestley,ProductionEditors,wholedusthroughthemanylogisticalcomplex-
itiesofthepublicationprocess.HilaryWalforddeservesspecialcreditandapprecia-
tion for her professional handling of the challenging task of copy editing the
individual chapters. Rendering smooth, readable, and stylistically consistent the
prose of authors whose first language was in many cases not English and whose
topics spanned a good deal of regional, institutional, and disciplinaryesotericawas
nosmallfeat.
vi acknowledgements
Finally, we wish to express our gratitude to the many scholars from all over the
world who contributed chapters to the volume. Their patient, careful, and timely
responsestoourcriticalcommentsandrequestsforchangesmadeourjobaseditors
much more pleasant and manageable. We thank them all for their participation in
theproject,andtheircontributionstotheHandbook,whichwehopewillprovetobe
ausefulcontributiontothescholarlyunderstandingofbusinessgroups.
AsliM.Colpan
TakashiHikino
JamesR.Lincoln
C
ONTENTS
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ListofFigures x
ListofTables xiii
Abbreviations xviii
NotesonContributors xxi
1. Introduction 1
AsliM.Colpan,TakashiHikino,andJamesR.Lincoln
PART I. THEORETICAL AND HISTORICAL OVERVIEW
2. FoundationsofBusinessGroups:TowardsanIntegratedFramework 15
AsliM.ColpanandTakashiHikino
3. BusinessGroupsinHistoricalPerspectives 67
GeoffreyJonesandAsliM.Colpan
PART II. NATIONAL EXPERIENCES OF BUSINESS GROUPS
Group 1. Asia
4. BusinessGroupsinPrewarJapan:HistoricalFormationandLegacy 97
HideakiMiyajimaandShinyaKawamoto
5. BusinessNetworksinPostwarJapan:Whither theKeiretsu? 127
JamesR.LincolnandMasahiroShimotani
6. BusinessGroupsinSouthKorea 157
HicheonKim
7. BusinessGroupsinTaiwan 180
Chi-NienChungandIshtiaqP.Mahmood
viii contents
8. BusinessGroupsinChina 210
KeunLeeandYoung-SamKang
9. BusinessGroupsinThailand 237
NatenaphaWailerdsakandAkiraSuehiro
10. BusinessGroupsinSingapore 267
LaiSiTsui-AuchandToruYoshikawa
11. BusinessGroupsinIndia 294
JayatiSarkar
Group 2. Latin America
12. BusinessGroupsinArgentina 325
EduardoFracchia,LuizMesquita,andJuanQuiroga
13. BusinessGroupsinBrazil 353
DanteM.AldrighiandFernando A.S.Postali
14. BusinessGroupsinChile 387
FernandoLefort
15. BusinessGroupsinMexico 424
TaekoHoshino
Group 3. The Middle East, Eastern Europe,
and Africa
16. BusinessGroupsinIsrael 459
KonstantinKosenkoandYishayYafeh
17. BusinessGroupsinTurkey 486
AsliM.Colpan
18. BusinessGroupsinRussia 526
SergeiGuriev
19. BusinessGroupsinSouthAfrica 547
AndreaGoldstein
contents ix
PART III. ECONOMIC, SOCIOPOLITICAL, AND
MANAGERIAL UNDERPINNINGS OF BUSINESS GROUPS
20. BusinessGroupsinEmergingMarkets:ParagonsorParasites? 575
TarunKhannaandYishayYafeh
21. TheRiddleoftheGreatPyramids 602
RandallMorck
22. EconomicInstitutionsandtheBoundariesofBusinessGroups 629
RichardN.Langlois
23. BusinessGroupsandtheState:ThePoliticsofExpansion,
Restructuring, andCollapse 650
BenRossSchneider
24. CorporateGovernanceofBusinessGroups 670
BrianK.BoydandRobertE.Hoskisson
25. TheKinandtheProfessional:TopLeadershipinFamily
BusinessGroups 696
Behlu¨lU¨sdiken
26. DiversificationStrategyandBusinessGroups 717
AndrewDeliosandXufeiMa
27. CapabilityBuildinginBusinessGroups 743
MauroF.Guille´n
28. TechnologicalInnovationandBusinessGroups 763
MikeHobdayandAsliM.Colpan
Index 783
Description:Business Groups--large, diversified, often family-controlled organizations, such as the Japanese keiretsu and the Korean chaebol--have played a significant role in national economic growth, especially in emerging economies. Earlier variants can also be found in the trading companies, often set up in
