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Asian Business Groups. Context, Governance and Performance by Michael Carney

By Michael Carney

The Asian fiscal panorama is ruled via quite a few varieties of company workforce. Asian enterprise teams offers a entire overview and advent to the differing kinds of commercial workforce. The origins and founding context of teams from specific nationwide settings shape the fundamental constitution of the e-book. Emphasis is given to either the similarities and alterations in workforce governance and function and the results for Asian foreign competitiveness are addressed.

  • Multidisciplinary framework that integrates managerial, sociological, and monetary views on enterprise teams and allows research of either their optimistic and unfavourable aspects
  • Comprehensive survey of empirical findings at the monetary and marketplace performance
  • Sensitivity to the altering historic context and significant occasions that experience formed enterprise team improvement and dynamics

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Additional resources for Asian Business Groups. Context, Governance and Performance

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In the pyramid structure, by contrast, dominant shareholders benefit at the expense of minority shareholders. Business groups concentrate corporate control in the hands of small elite Critics of pyramid governance fear that a tiny elite of substantially wealthy individuals can come to control large sectors of the country’s corporate sector. Studies of ownership structures in Asian business groups reveal that many are organised as pyramids (Claessens, Djankov, Fan and Lang, 1999a). As we shall see, many groups and their affiliates are ultimately owned by a single individual shareholder or his family.

As we have documented, bright-side perspectives generally indicate that business groups are a source of value creation for their members and a source of general economic welfare in the economy. In contrast, dark-side perspectives suggest that business groups tend to destroy wealth or allocate wealth in an unjust or inefficient manner, and have a negative effect on the economic welfare in the wider economy. Four perspectives on business group performance Our definition of a business group focuses on two factors: diversification and ownership concentration.

On the one hand, a group may spin-off a firm for many positive reasons, but the group may also wish to sell its poor and underperforming businesses while maintaining ownership of the best assets. In this view, a group may enjoy a positive reputation, but the complexity of its operations permits opportunistic behaviour. In many ways this is a variation of the first dark-side problem described above. However, the point is emphasised here because the current argument is in direct opposition to the argument that business group reputation signals quality.

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