Managing multi-business firms: A comparison between Korean chaebols and diversified US firms

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We identify and examine the efficacy of organizational mechanisms through which diversified firms are effectively managed without loss of control. Building on the resource based view of business groups, we argue that business groups in emerging markets use these mechanisms more often and derive more benefits from the use of these mechanisms than the diversified U.S. firms. Empirical results based on samples from Korea and the U.S. show that structural mechanisms such as strategic control and contingency arrangements, do not affect divisional performance, whereas socio-cultural mechanisms, such as shared values and corporate-level training, have significant effect on divisional performance. We also find that Korean chaebols have leveraged socio-cultural mechanisms better than large U.S. firms, and thus, have an advantage in continuing to diversify. (C) 2012 Elsevier Inc. All rights reserved.
Publisher
ELSEVIER SCIENCE INC
Issue Date
2013-10
Language
English
Article Type
Article
Keywords

RESOURCE-BASED VIEW; EMERGING MARKETS; GROUP AFFILIATION; UNIT LEVEL; PERFORMANCE; GOVERNANCE; STRATEGIES; MANAGEMENT; ADVANTAGE; CHINA

Citation

JOURNAL OF WORLD BUSINESS, v.48, no.4, pp.443 - 454

ISSN
1090-9516
DOI
10.1016/j.jwb.2012.09.001
URI
http://hdl.handle.net/10203/201536
Appears in Collection
MT-Journal Papers(저널논문)
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