期刊
JOURNAL OF BUSINESS RESEARCH
卷 72, 期 -, 页码 1-13出版社
ELSEVIER SCIENCE INC
DOI: 10.1016/j.jbusres.2016.11.005
关键词
Diversification; Institutional transitions; Emerging economy; Business group; Performance
类别
Drawing from institutional theory and organizational theory, this paper reports findings from a longitudinal study of Indian business groups as they were responding to pro-market institutional reforms. It explores their diversification choices at the group level, and the group performance consequences of these choices during a period of institutional change (1988-2012). Results show that although overall group diversification had a positive impact on performance, as institutions developed and market reforms took root, unrelated diversification resulted in poorer performance. However, related diversification strategies resulted in positive group performance outcomes after pro-market reforms had taken root. This suggests that the performance consequences of alternative diversification strategies adopted by business groups change as institutional development occurs, an important facet of business group evolution that has received limited attention in the extant literature. (C) 2016 Elsevier Inc. All rights reserved.
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