The network structure of big business in Taiwan

Brookfield, Jonathan

doi:10.1007/s10490-009-9153-4

Cited by 15 publications

(8 citation statements)

References 49 publications

(54 reference statements)

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“…We test our arguments on all publicly listed firms between 1996 and 2005 in the emerging market of Taiwan. This offers an ideal setting because it displays the features that characterize many emerging economies (Luo and Chung, ; Brookfield, ).…”

Section: Introductionmentioning

confidence: 94%

Leadership succession and firm performance in an emerging economy: Successor origin, relational embeddedness, and legitimacy

Chung

Luo

2012

Strategic Management Journal

158

109

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We examine how leadership transition affects firm performance in emerging economies. Building upon the social embeddedness and neo‐institutional perspectives, we argue for the importance of alignment between successor origin and social context for firm performance. We suggest that as a baseline outside successors enhance firm profitability because of the large‐scale and rapid changes in emerging markets. However, this outsider premium is reduced in firms embedded in family and business group relationships, where family and inside successors can better access network resources. But the outsider premium is amplified in firms embedded in a mature market‐based logic, such as high tech or foreign invested firms, because the perceived legitimacy of outsiders facilitates resource acquisition. Our arguments are supported through the analysis of Taiwanese listed firms between 1996 and 2005. Copyright © 2012 John Wiley & Sons, Ltd.

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Section: Introductionmentioning

confidence: 94%

Leadership succession and firm performance in an emerging economy: Successor origin, relational embeddedness, and legitimacy

Chung

Luo

2012

Strategic Management Journal

158

109

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“…A second (but less systematic and fragmented) research stream focuses instead on a control and coordination device inside business groups and the ways in which it is achieved. Interlocking directorates are commonly considered as the most common and efficient mechanism in place across companies belonging to the same corporate cluster and even across different industries (Brookfield, ), particularly evident in cases such as the Japanese keiretsu or the Korean chaebol (see Kikkawa, ; Kim, ). As a control and coordination device, director interlocks appear to be quite resilient in phases of economic stability and crisis – even if the available research largely deals with the evidence provided by East Asian countries such as Japan and Korea (Jang & Kim, ; McGuire & Dow, ).…”

Section: Organizing Framework and Analysis Of Past Researchmentioning

confidence: 99%

Business Groups and Corporate Governance: Review, Synthesis, and Extension

Colli

Colpan

2015

Corporate Governance

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Manuscript Type: ReviewResearch Question/Issue: This article addresses the diverse and fragmented literature about the corporate governance of business groups. We collected scholarly work on the subject, proposed a conceptualization of the main research questions they addressed, classified them according to their research themes, and identified future research directions. Research Findings/Insights: Academic research on corporate governance in business groups has been increasing but is still a developing field. Available analyses make use of the main theoretical frameworks in general in corporate governance research. However, there are several areas of analysis that still need stronger conceptualization and empirical work, leaving many opportunities for future studies and a pressing need to substantiate and extend the findings of previous studies. Theoretical/Academic Implications: Our study identifies four avenues for future research on corporate governance in business groups. This includes the examination of the complex relationships and co-evolutionary processes among corporate governance attributes, and organizational and performance outcomes of business groups; the effects of ownership goals on groups' performance outcomes; the role and the actual functioning of boards inside business groups; and the analyses of cross-national comparison and long-term development of the governance of business groups. Practitioner/Policy Implications: This research allows practitioners and policymakers to get a better understanding of the crucial areas regarding business groups and their governance, and offers pathways to examine inside the "black-box" of business groups.

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“…Other examples include China's "22 Point Regulation," encouraging Taiwanese investment in Chinese coastal provinces, and Taiwan's "Ten Major Construction Projects," which committed the Taiwanese government to major infrastructure investments aimed at supporting the growth of its market institutions (So, Lin, & Poston, 2001). The Taiwanese government was also quite active and explicit about its policies regarding the financial sector as it transitioned toward deregulation and network governance (Brookfield, 2009;Chuang & Lin, 2008). Hong Kong typically took a more laissezfaire approach than its East Asian neighbors, but the fact that power was concentrated in the hands of a powerful and unchallenged few meant that their pro-business policies also could be explicit in nature even though the actual policies themselves differed from other countries in the region (Wilding, 1997).…”

Section: Explicitnessmentioning

confidence: 99%