Power dependence, diversification strategy, and performance in keiretsu member firms

• 成果类型: Review
• 署名作者: Kim, H; Hoskisson, RE; Wan, WP
• 署名单位: Korea University; University of Oklahoma System; University of Oklahoma - Norman
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.395
• 发表日期: 2004
• 页码: 613-636
• 关键词: keiretsu; business groups; corporate governance; power dependence; product diversification strategy; international diversification strategy

摘要

Conceptualizing the keiretsu as a power-dependence system, we propose that benefits accruing from keiretsu affiliation differ across member firms, depending on their power in (or dependence on) the keiretsu. By integrating power with governance and internal market perspectives on group affiliation, we develop and find general support for the hypotheses that powerful keiretsu member firms are able to place more emphasis on growth in pursuing product and international diversification, whereas less powerful keiretsu member firms are subject to strong monitoring and emphasize profitability. These findings provide support to the study's proposition that power-dependence relationships in a keiretsu influence member firms' appropriation of group affiliation benefits in pursuing diversification strategies. Copyright (C) 2004 John Wiley Sons, Ltd.