Corporate group

About: Corporate group is a research topic. Over the lifetime, 1747 publications have been published within this topic receiving 46868 citations.

Business group attributes and internationalization strategy in China

Abstract: Business groups play a critical role in the internationalization of Chinese firms, but empirical efforts on this topic are limited. This study aims to fill this gap by examining the impacts of group-specific attributes on the pursuit of different internationalization strategies. Our findings from 219 Chinese business group affiliates show that horizontal linkages among group affiliates are more positively related to asset-seeking internationalization, whereas vertical linkages are more positively related to market-seeking internationalization. We contribute to the literature by moving a step forward to examine if business group attributes are leveraged differentially in market-seeking and asset-seeking internationalization strategies.

The Production of Corporate Law

Abstract: The production of corporate law has been seen as a competition among the states. This paper takes an interest group view of the production of law, and argues that changes in corporate laws in the United States are driven primarily by lawyers and corporate managers. The benefits to lawyers from modern corporate laws include retention of corporate clients as local corporations, thus excluding the competition of out-of-state lawyers with expertise in Delaware law. But because the production of law is a public good, lawyers find initiating legal change costly, and innovations proceed slowly. Managers, on the other hand, are not generally experts on corporate law, but focus on particular issues that affect them directly, such as antitakeover laws and laws affecting their personal liability. The paper examines the degree of uniformity resulting from this competition, and finds a high degree of correspondence with the norms set in the Model Business Corporation Act. Deviations from this uniformity are explained in large part by innovations, many of which originate in the Model Act. The paper then examines how the collective action problems of the sponsoring interest groups influence the diffusion of innovations in corporate law. Innovations sponsored by lawyers have relatively slow rates of adoption, reflecting their collective action problems. When these costs are reduced through introduction of changes in the Model Act, the rate of diffusion increases. Managers appear to suffer from fewer collective action problems, and have a more intense interest in certain subjects because of the more direct benefits they obtain, and management-sponsored innovations are adopted much more rapidly. Possible inefficiencies from rent-seeking by interest groups appear to be constrained by competitive forces, suggesting that alternative solutions, such as federalizing corporate law, would not solve the rent-seeking problem as well, and would sacrifice the innovations obtained through the present competitive system.

Governing Local Sustainability: Agency Venues and Business Group Access

Abstract: To what extent do local administrators include business interests in their informal bargaining and negotiation on issues involving economic development and environmental and sustainability policies...

An Exploratory Analysis of the Largest Black-Owned U.S. Companies

Abstract: AN EXPLORATORY ANALYSIS OF THE LARGEST BLACK-OWNED U.S. COMPANIES In the past few decades, a number of black-owned business firms have become successful to the point of attaining a degree of national recognition. These firms and their owners have been written about in both black and general business magazines, have been included in lists of the largest minority businesses, and have been used as examples of the success possible under "Black Capitalism." Any study of even the largest and most successful black-owned businesses, nevertheless, is a study of small business. In 1984, among the one hundred largest black-owned businesses in the United States, only two had sales of more than $100 million and all but eighteen had sales under $30 million. Similarly, only two had more than one thousand employees, and only seven had more than five hundred employees. By way of comparison, in 1984 the largest firm in the "Fortune 500" listing had $88 billion in sales and the 500th firm had sales of $418 million. By the standards of mainstream business, the largest black-owned firms may not be "mom-and-pop" operations, but almost all would be considered small. During the last two decades, with the growth of public awareness of minority issues in general, black and minority small business has become a familiar object of public policy and the subject of many research studies. Almost all of the latter, however, have dealt with the typical minority firm, sized on the lower end of the small business spectrum. The emphasis of most of this research has been on assistance programs for such firms and on comparisons between minority and white entrepreneurs. The developing consensus is that most financial and management assistance programs are of value to minority clients, and that minority entrepreneurs tend to be quite similar to their mainstream counterparts in terms of ability and potential. Thus, while much more is known today than formerly about the very small, minority-owned company, there is a need to look more closely at the most successful (and often, therefore, the largest) minority firms, which have not been studied sufficiently to date. An examination of this second group of companies should allow the researcher to focus specifically on the nature of success in minority small business. The purpose of this article is to analyze a portion of the available data relating to the largest black-owned businesses in the United States, to reach conclusions as to the level of progress and the current status of these successful black-owned firms, and to develop conclusions with regard to social policy. METHOD Because the ownership of even the largest minority-owned firms is often closely held, public information concerning such companies is much more difficult to obtain than for large mainstream firms. The best long-term listing is "The Top 100 Black Businesses," compiled annually since 1973 by Black Enterprise magazine. This is a list of firms, at least 51 percent black-owned and in the fields of manufacturing and industrial or consumer services, which had the largest sales volume during the previous year. For the purposes of this study, the latest available ten-year BE data, covering the period 1975 through 1984, have been selected. As suggested by this data base, the study is limited wholly to black-owned firms. While it would be useful to compare data for the largest black-owned firms with similar data for white-owned, or "mainstream," companies, such a comparison is not possible at present, due to the lack of any truly comparable mainstream listing. The mainstream companies appearing in the annual listings of various magazines are either a great deal larger than the BE100 firms, or have been chosen for some outstanding attribute other than sales volume (ROI, growth rate, etc.). ANALYSIS Current Status The status of black-owned business in the United States today is best described as uncertain. …