메뉴 건너뛰기




Volumn 43, Issue 3, 2000, Pages 268-285

The future of business groups in emerging markets: Long-run evidence from Chile

(2)  Khanna, Tarun a   Palepu, Krishna a  

a NONE

Author keywords

[No Author keywords available]

Indexed keywords


EID: 0034339386     PISSN: 00014273     EISSN: None     Source Type: Journal    
DOI: 10.2307/1556395     Document Type: Article
Times cited : (987)

References (92)
  • 1
    • 85005305538 scopus 로고
    • The market for lemons. Quality uncertainty and the market mechanism
    • Akerlof, G. 1970. The market for lemons. Quality uncertainty and the market mechanism. Quarterly Journal of Economics, 48: 488-500.
    • (1970) Quarterly Journal of Economics , vol.48 , pp. 488-500
    • Akerlof, G.1
  • 3
    • 0001158902 scopus 로고
    • Project execution capability, organizational know-how and conglomerate corporate growth in late industrialization
    • Amsden, A., & Hikino, T. 1994. Project execution capability, organizational know-how and conglomerate corporate growth in late industrialization. Industrial and Corporate Change, 3: 111-148.
    • (1994) Industrial and Corporate Change , vol.3 , pp. 111-148
    • Amsden, A.1    Hikino, T.2
  • 4
    • 0003135050 scopus 로고
    • Toward an economic model of the japanese firm
    • Aoki, M. 1990. Toward an economic model of the Japanese firm. Journal of Economic Literature, 28: 1-27.
    • (1990) Journal of Economic Literature , vol.28 , pp. 1-27
    • Aoki, M.1
  • 5
    • 0002580276 scopus 로고
    • The contingent governance of teams: Analysis of institutional complementarity
    • Aoki, M. 1994. The contingent governance of teams: Analysis of institutional complementarity. International Economic Review, 35: 657-676.
    • (1994) International Economic Review , vol.35 , pp. 657-676
    • Aoki, M.1
  • 7
    • 1542424092 scopus 로고    scopus 로고
    • Corruption and development: A review of issues
    • Bardhan, P. 1997. Corruption and development: A review of issues. Journal of Economic Literature, 35: 1320-1346.
    • (1997) Journal of Economic Literature , vol.35 , pp. 1320-1346
    • Bardhan, P.1
  • 9
    • 0002737253 scopus 로고
    • The validity of profits-structure studies with particular reference to the FTC's line-of-business data
    • Benston, G. J. 1985. The validity of profits-structure studies with particular reference to the FTC's line-of-business data. American Economic Review, 75: 37-67.
    • (1985) American Economic Review , vol.75 , pp. 37-67
    • Benston, G.J.1
  • 11
    • 0000387367 scopus 로고
    • The governance structure of the Japanese financial keiretsu
    • Berglof, E., & Perotti, E. 1994. The governance structure of the Japanese financial keiretsu. Journal of Financial Economics, 36: 259-284.
    • (1994) Journal of Financial Economics , vol.36 , pp. 259-284
    • Berglof, E.1    Perotti, E.2
  • 12
    • 0001687495 scopus 로고
    • Directly-unproductive, profit-seeking DUP activities
    • Bhagwati, J. 1982. Directly-unproductive, profit-seeking DUP activities. Journal of Political Economy, 90: 988-1002.
    • (1982) Journal of Political Economy , vol.90 , pp. 988-1002
    • Bhagwati, J.1
  • 13
    • 84934562195 scopus 로고
    • The iron law of fiefs: Bureaucratic failure and the problem of governance in the Chinese economic reforms
    • Boisot, M., & Child, J. 1988. The iron law of fiefs: Bureaucratic failure and the problem of governance in the Chinese economic reforms. Administrative Science Quarterly. 33: 507-527.
    • (1988) Administrative Science Quarterly , vol.33 , pp. 507-527
    • Boisot, M.1    Child, J.2
  • 15
    • 70350103252 scopus 로고
    • International differences in industrial organization
    • R. Schmalensee and R. Willig (Eds.), Amsterdam: North Holland
    • Caves, R. 1989. International differences in industrial organization. In R. Schmalensee and R. Willig (Eds.), Handbook of industrial organization, vol. 2: 1226-1249. Amsterdam: North Holland.
    • (1989) Handbook of Industrial Organization , vol.2 , pp. 1226-1249
    • Caves, R.1
  • 17
    • 0002369349 scopus 로고
    • The M-form: Industrial groups, American style
    • Chandler, A. D. 1982. The M-Form: Industrial groups, American style. European Economic Review, 19: 3-23.
    • (1982) European Economic Review , vol.19 , pp. 3-23
    • Chandler, A.D.1
  • 18
    • 0024252482 scopus 로고
    • Strategy, structure, and performance of korean business groups: A transactions cost approach
    • Chang, S. J., & Choi, U. 1988. Strategy, structure, and performance of Korean business groups: A transactions cost approach. Journal of Industrial Economics, 37(2): 141-159.
    • (1988) Journal of Industrial Economics , vol.37 , Issue.2 , pp. 141-159
    • Chang, S.J.1    Choi, U.2
  • 20
  • 21
    • 84979188687 scopus 로고
    • The nature of the firm
    • Coase, R. 1937. The nature of the firm. Economica, 4: 386-405.
    • (1937) Economica , vol.4 , pp. 386-405
    • Coase, R.1
  • 22
    • 0001977705 scopus 로고    scopus 로고
    • Chile. The evolution and reform of the labor market
    • S. Edwards & N. C. Lustid (Eds.), Washington, DC: Brookings Institution Press
    • Cortazar, R. 1997. Chile. The evolution and reform of the labor market. In S. Edwards & N. C. Lustid (Eds.), Labor markets in Latin America: Combining social protection with market flexibility: 235-260. Washington, DC: Brookings Institution Press.
    • (1997) Labor Markets in Latin America: Combining Social Protection with Market Flexibility , pp. 235-260
    • Cortazar, R.1
  • 23
    • 47749120440 scopus 로고
    • Financial intermediation and delegated monitoring
    • Diamond, D. W. 1984. Financial intermediation and delegated monitoring. Review of Economic Studies, 51(3): 393-414.
    • (1984) Review of Economic Studies , vol.51 , Issue.3 , pp. 393-414
    • Diamond, D.W.1
  • 24
    • 0000953669 scopus 로고
    • The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields
    • DiMaggio, P., & Powell, W. 1983. The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48: 147-160.
    • (1983) American Sociological Review , vol.48 , pp. 147-160
    • DiMaggio, P.1    Powell, W.2
  • 25
    • 33749885467 scopus 로고
    • Goodwill and the spirit of market capitalism
    • Dore, R. 1983. Goodwill and the spirit of market capitalism. British Journal of Sociology, 34: 459-482.
    • (1983) British Journal of Sociology , vol.34 , pp. 459-482
    • Dore, R.1
  • 27
    • 0040153325 scopus 로고    scopus 로고
    • Africa's growth tragedy: Policies and ethnic divisions
    • Easterly, W., & Levine, R. 1997. Africa's growth tragedy: Policies and ethnic divisions. Quarterly Journal of Economics, 112: 1203-1250.
    • (1997) Quarterly Journal of Economics , vol.112 , pp. 1203-1250
    • Easterly, W.1    Levine, R.2
  • 29
    • 0040441745 scopus 로고    scopus 로고
    • The incentives to rent seeking: Estimating the value of political connections
    • Fisman, R. 2000. The incentives to rent seeking: Estimating the value of political connections. American Economic Review: In press.
    • (2000) American Economic Review: In Press
    • Fisman, R.1
  • 32
    • 84984455846 scopus 로고
    • Needed mechanisms of corporate governance and finance in eastern europe
    • Frydman, R., Phelps, E., Rapaczynski, A., & Shleifer, A. 1993. Needed mechanisms of corporate governance and finance in Eastern Europe. Economics of Transition, 1(2): 171-207.
    • (1993) Economics of Transition , vol.1 , Issue.2 , pp. 171-207
    • Frydman, R.1    Phelps, E.2    Rapaczynski, A.3    Shleifer, A.4
  • 35
    • 84884103173 scopus 로고
    • The japanese corporate network: A blockmodel analysis
    • Gerlach, M. 1992. The Japanese corporate network: A blockmodel analysis. Administrative Science Quarterly, 37: 105-139.
    • (1992) Administrative Science Quarterly , vol.37 , pp. 105-139
    • Gerlach, M.1
  • 36
    • 0008755549 scopus 로고    scopus 로고
    • Competitive policy shocks and strategic management
    • M. Hitt, J. E. Ricart, & R. Nixon (Eds.), New York: Wiley
    • Ghemawat, P., Kennedy, R., & Khanna, T. 1998. Competitive policy shocks and strategic management. In M. Hitt, J. E. Ricart, & R. Nixon (Eds.), Managing strategically in an interconnected world: 15-38. New York: Wiley.
    • (1998) Managing Strategically in An Interconnected World , pp. 15-38
    • Ghemawat, P.1    Kennedy, R.2    Khanna, T.3
  • 37
    • 0040428441 scopus 로고    scopus 로고
    • The nature of diversified business groups: A research design and two case studies
    • Ghemawat, P., & Khanna, T. 1998. The nature of diversified business groups: A research design and two case studies. Journal of Industrial Economics, 46: 35-62.
    • (1998) Journal of Industrial Economics , vol.46 , pp. 35-62
    • Ghemawat, P.1    Khanna, T.2
  • 39
    • 0002497126 scopus 로고
    • Business groups in a market economy
    • Goto, A. 1982. Business groups in a market economy. European Economic Review, 19: 53-70.
    • (1982) European Economic Review , vol.19 , pp. 53-70
    • Goto, A.1
  • 40
    • 0000144671 scopus 로고
    • Business groups
    • N. J. Smelser & R. Swedborg (Eds.), Princeton, NJ: Princeton University Press: New York: Russell Sage Foundation
    • Granovetter, M. 1994. Business groups. In N. J. Smelser & R. Swedborg (Eds.), Handbook of economic sociology: 453-475. Princeton, NJ: Princeton University Press: New York: Russell Sage Foundation.
    • (1994) Handbook of Economic Sociology , pp. 453-475
    • Granovetter, M.1
  • 41
    • 0028570634 scopus 로고
    • Cultural beliefs and the organization of society: A historical and theoretical reflection on collectivist and individualist societies
    • Greif, A. 1994. Cultural beliefs and the organization of society: A historical and theoretical reflection on collectivist and individualist societies. Journal of Political Economy, 102: 912-950.
    • (1994) Journal of Political Economy , vol.102 , pp. 912-950
    • Greif, A.1
  • 44
    • 0002308919 scopus 로고
    • Corporate structure, liquidity, and investment: Evidence from Japanese industrial groups
    • Hoshi, T., Kashyap, A., & Scharfstein, D. 1991. Corporate structure, liquidity, and investment: Evidence from Japanese industrial groups. Quarterly Journal of Economics, 106: 33-60.
    • (1991) Quarterly Journal of Economics , vol.106 , pp. 33-60
    • Hoshi, T.1    Kashyap, A.2    Scharfstein, D.3
  • 45
    • 84970531019 scopus 로고
    • Antecedents and performance outcomes of diversification: A review and critique of theoretical perspectives
    • Hoskisson, R. E., & Hitt, M. A. 1990. Antecedents and performance outcomes of diversification: A review and critique of theoretical perspectives. Journal of Management, 16: 461-509.
    • (1990) Journal of Management , vol.16 , pp. 461-509
    • Hoskisson, R.E.1    Hitt, M.A.2
  • 46
    • 84989036165 scopus 로고
    • Construct validity of an objective (entropy) measure of diversification strategy
    • Hoskisson, R. E., Hitt, M. A., Johnson, R. A., & Moesel, D. D. 1993. Construct validity of an objective (entropy) measure of diversification strategy. Strategic Management Journal, 14: 215-235.
    • (1993) Strategic Management Journal , vol.14 , pp. 215-235
    • Hoskisson, R.E.1    Hitt, M.A.2    Johnson, R.A.3    Moesel, D.D.4
  • 47
    • 0032265369 scopus 로고    scopus 로고
    • Engineering growth: Business group structure and firm performance in China's transition economy
    • Keister, L. A. 1998. Engineering growth: Business group structure and firm performance in China's transition economy. American Journal of Sociology, 104: 404-440.
    • (1998) American Journal of Sociology , vol.104 , pp. 404-440
    • Keister, L.A.1
  • 48
    • 0001972465 scopus 로고    scopus 로고
    • Case Harvard Business School, Boston
    • Khanna, T. 1997. RPG Enterprises, 1995. Case 797-106, Harvard Business School, Boston.
    • (1997) RPG Enterprises, 1995 , pp. 797-1106
    • Khanna, T.1
  • 49
    • 0001921324 scopus 로고    scopus 로고
    • Why focused strategies may be wrong for emerging markets
    • Khanna, T., & Palepu, K. 1997. Why focused strategies may be wrong for emerging markets. Harvard Business Review, 75(4): 41-51.
    • (1997) Harvard Business Review , vol.75 , Issue.4 , pp. 41-51
    • Khanna, T.1    Palepu, K.2
  • 50
    • 0033447322 scopus 로고    scopus 로고
    • Policy shocks, market intermediaries, and corporate strategy: The evolution of business groups in Chile and India
    • Khanna, T., & Palepu, K. 1999. Policy shocks, market intermediaries, and corporate strategy: The evolution of business groups in Chile and India. Journal of Economics and Management Strategy, 8: 271-310.
    • (1999) Journal of Economics and Management Strategy , vol.8 , pp. 271-310
    • Khanna, T.1    Palepu, K.2
  • 51
    • 0000859784 scopus 로고    scopus 로고
    • Is group membership profitable in emerging markets? an analysis of diversified Indian business groups
    • In press
    • Khanna, T., & Palepu, K. 2000a. Is group membership profitable in emerging markets? An analysis of diversified Indian business groups. Journal of Finance: In press.
    • (2000) Journal of Finance
    • Khanna, T.1    Palepu, K.2
  • 52
    • 0004541159 scopus 로고    scopus 로고
    • Emerging market business groups, foreign investors and corporate governance
    • R. Morck (Ed.), Forthcoming. Chicago: University of Chicago Press
    • Khanna, T., & Palepu, K. 2000b. Emerging market business groups, foreign investors and corporate governance. In R. Morck (Ed.), Concentrated ownership: Forthcoming. Chicago: University of Chicago Press.
    • (2000) Concentrated Ownership
    • Khanna, T.1    Palepu, K.2
  • 54
    • 0001974253 scopus 로고    scopus 로고
    • Case no. Harvard Business School, Boston
    • Khanna, T., & Wu, D. M. 1998. Empresas CAP 1994. Case no. 798-053, Harvard Business School, Boston.
    • (1998) Empresas CAP 1994 , pp. 798-1053
    • Khanna, T.1    Wu, D.M.2
  • 55
    • 0002039209 scopus 로고    scopus 로고
    • Japanese governance systerns: A critical review
    • S. B. Prasad (Ed.), Greenwich, CT: JAI Press
    • Kim, H., & Hoskisson, H. 1996. Japanese governance systerns: A critical review. In S. B. Prasad (Ed.), Advances in international comparative management, vol. 11: 65-190. Greenwich, CT: JAI Press.
    • (1996) Advances in International Comparative Management , vol.11 , pp. 65-190
    • Kim, H.1    Hoskisson, H.2
  • 56
    • 0000367973 scopus 로고
    • The political economy of rent-seeking society
    • Krueger, A. 1974. The political economy of rent-seeking society. American Economic Review, 64: 291-303.
    • (1974) American Economic Review , vol.64 , pp. 291-303
    • Krueger, A.1
  • 57
    • 84911059380 scopus 로고
    • Tohin's q, corporate diversification, and firm performance
    • Lang, L., & Stulz, R. 1993. Tohin's q, corporate diversification, and firm performance. Journal of Political Economy, 102: 142-174.
    • (1993) Journal of Political Economy , vol.102 , pp. 142-174
    • Lang, L.1    Stulz, R.2
  • 60
    • 0003064280 scopus 로고
    • Capital markets in the less developed countries: The group principal
    • R. McKinnon (Ed.), New York: Dekker
    • Leff, N. 1976. Capital markets in the less developed countries: The group principal. In R. McKinnon (Ed.), Money and finance in economic growth and development: 97-122. New York: Dekker.
    • (1976) Money and Finance in Economic Growth and Development , pp. 97-122
    • Leff, N.1
  • 61
    • 52649149890 scopus 로고
    • Industrial organization and entrepreneurship in the developing countries: The economic groups
    • Leff, N. 1978. Industrial organization and entrepreneurship in the developing countries: The economic groups. Economic Development and Cultural Change, 26: 661-675.
    • (1978) Economic Development and Cultural Change , vol.26 , pp. 661-675
    • Leff, N.1
  • 64
    • 84989104533 scopus 로고
    • Construct validity of some unweighted product-count diversification measures
    • Lubatkin, M., Merchant, H., & Srinivasan, N. 1993. Construct validity of some unweighted product-count diversification measures. Strategic Management . Journal, 14: 433-449.
    • (1993) Strategic Management Journal , vol.14 , pp. 433-449
    • Lubatkin, M.1    Merchant, H.2    Srinivasan, N.3
  • 67
    • 0001441322 scopus 로고
    • Random group effects and the precision of regression estimates
    • Moulton, B. R. 1986. Random group effects and the precision of regression estimates. Journal of Econometrics, 32: 385-397.
    • (1986) Journal of Econometrics , vol.32 , pp. 385-397
    • Moulton, B.R.1
  • 68
    • 0000265332 scopus 로고
    • An illustration of a pitfall in estimating the effects of aggregate variables on micro units
    • Moulton, B. R. 1990. An illustration of a pitfall in estimating the effects of aggregate variables on micro units. Review of Economics and Statistics, 72: 334-338.
    • (1990) Review of Economics and Statistics , vol.72 , pp. 334-338
    • Moulton, B.R.1
  • 69
    • 0002520230 scopus 로고
    • The economic role of financial corporate grouping
    • M. Aoki (Ed.), Amsterdam: North Holland
    • Nakatani, I. 1984. The economic role of financial corporate grouping. In M. Aoki (Ed.), The economic analysis of the Japanese firm: 227-258. Amsterdam: North Holland.
    • (1984) The Economic Analysis of the Japanese Firm , pp. 227-258
    • Nakatani, I.1
  • 72
  • 73
    • 0002118818 scopus 로고    scopus 로고
    • Building institutional infrastructure in emerging markets
    • Palepu, K., & Khanna, T. 1998. Building institutional infrastructure in emerging markets. Brown Journal of World Affairs, 5(1): 71-78.
    • (1998) Brown Journal of World Affairs , vol.5 , Issue.1 , pp. 71-78
    • Palepu, K.1    Khanna, T.2
  • 75
    • 0002659992 scopus 로고
    • Reforming corporate governance and finance in China
    • M. Aoki & H. Kim (Eds.), Washington, DC: EDI Development Studies, World Bank
    • Qian, Y. 1995. Reforming corporate governance and finance in China. In M. Aoki & H. Kim (Eds.), Corporate governance in transitional economies: Insider control and the role of banks: 215-252. Washington, DC: EDI Development Studies, World Bank.
    • (1995) Corporate Governance in Transitional Economies: Insider Control and the Role of Banks , pp. 215-252
    • Qian, Y.1
  • 76
  • 79
    • 0001802590 scopus 로고
    • Economic reform and the process of the process of global integration
    • Washington, DC: Brookings Institution
    • Sachs, J., & Warner, A. 1995. Economic reform and the process of the process of global integration. In Brookings papers on economic activity, 25th anniversary issue: 1-98. Washington, DC: Brookings Institution.
    • (1995) In Brookings Papers on Economic Activity, 25th Anniversary Issue , pp. 1-98
    • Sachs, J.1    Warner, A.2
  • 83
    • 0000232828 scopus 로고    scopus 로고
    • Market microstructure and intermediaation
    • Spulber, D. 1996. Market microstructure and intermediaation. Journal of Economic Perspectives, 10(3): 135-152.
    • (1996) Journal of Economic Perspectives , vol.10 , Issue.3 , pp. 135-152
    • Spulber, D.1
  • 85
  • 87
    • 0001104190 scopus 로고    scopus 로고
    • On the costs of a bank-centered financial system: Evidence from the changing main bank relations in Japan
    • Weinstein, D., & Yafeh, Y. 1998. On the costs of a bank-centered financial system: Evidence from the changing main bank relations in Japan. Journal of Finance, 53: 635-672.
    • (1998) Journal of Finance , vol.53 , pp. 635-672
    • Weinstein, D.1    Yafeh, Y.2
  • 90
    • 84936824407 scopus 로고
    • Comparative economic organization: The analysis of discrete structural alternatives
    • Williamson, O. 1991. Comparative economic organization: The analysis of discrete structural alternatives. Administrative Science Quarterly, 36: 269-296.
    • (1991) Administrative Science Quarterly , vol.36 , pp. 269-296
    • Williamson, O.1
  • 92
    • 84925888772 scopus 로고
    • Corporate ownership and control: The large corporation and the capitalist class
    • Zeitlin, M. 1974. Corporate ownership and control: The large corporation and the capitalist class. American Journal of Sociology, 79: 1073-1119.
    • (1974) American Journal of Sociology , vol.79 , pp. 1073-1119
    • Zeitlin, M.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.