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The evolution and restructuring of diversified business groups in emerging markets

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  • The evolution and restructuring of diversified business groups in emerging markets
  • Kim, Hicheon; Hoskisson, Robert E.; Tihanyi, Laszlo; Hong, Jaebum
  • Kluwer Academic Publishers


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Title The evolution and restructuring of diversified business groups in emerging markets
Similar Titles
Material Type Articles
Author(English)

Kim, Hicheon; Hoskisson, Robert E.; Tihanyi, Laszlo; Hong, Jaebum

Publisher

[Dordrecht]:Kluwer Academic Publishers

Date 2004
Journal Title; Vol./Issue Asia Pacific Journal of Management:vol. 21
Pages 24
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding Texas A&M University

Abstract

This paper proposes an evolutionary model of business groups in emerging economies by tracing the evolution and restructuring of business groups in Korea. Underlying our model are two theoretical premises: (1) the value-creation potential of business group diversification depends on the quality of the economic institutions supporting the economy; and (2) the strategy-structure fit is a key determinant of diversified business groups’ performance. Combining these two premises, we link business group evolution with institutional context, sources of competitive advantages, diversification strategy, and structure. To illustrate our theoretical arguments, we provide an overview of the evolution of chaebols in Korea and examine the restructuring of two major business groups, LG and Hyundai Motor. We conclude by discussing implications for management, public policy, and future research.