Entrepreneur subsidiary of business groups from emerging markets: a multi-level perspective
Fang-Yi Lo (fylo@fcu.edu.tw),
Kun-Huang Huarng (khhuarng@mail.fcu.edu.tw) and
Andrea Rey-Martí (andrea.rey@uv.es)
Additional contact information
Fang-Yi Lo: Feng Chia University
Kun-Huang Huarng: National Taipei University of Business
Andrea Rey-Martí: University of Valencia
International Entrepreneurship and Management Journal, 2019, vol. 15, issue 2, No 7, 483 pages
Abstract:
Abstract This study examines the effects of firm resources on entrepreneur subsidiaries of business groups. Resource-based theory is the foundation for understanding how resource endowment drives firm growth as well as its effect on entrepreneur subsidiaries’ performance. With the growth strategy of business groups as the focus herein, our empirical research includes multi-level analysis and robustness analysis of the top 300 business groups in Taiwan and their 10,028 entrepreneur subsidiaries. The results from hierarchical linear modeling show that entrepreneur subsidiaries’ resources positively affect their performance. Business groups’ resources and growth strategy also positively impact their performance, thus confirming the multi-level phenomena. This study offers a practical contribution for business groups to have a better understanding of the applicability of a firm’s resources and for entrepreneur subsidiaries to execute a proper growth strategy.
Keywords: Business groups; Emerging markets; Entrepreneur subsidiary; Performance; Multi-level perspective (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s11365-019-00563-y
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