Business Groups in Emerging Markets: A Survey and Analysis

Sharon Poczter

Emerging Markets Finance and Trade, 2018, vol. 54, issue 5, 1150-1182

Abstract: Research in the economics, finance, and management literature has sought to describe the predominance of business groups using an economic lens for decades. Yet, theory still falls short of explaining the role of business groups as a substitute for external markets as their influence only increases as countries develop. This article synthesizes the literature and posits that three main problems hinder its explanatory power; the difficulty of defining and identifying business groups, the focus on social welfare implications, and that the embeddedness of the central theories in a decidedly Anglo-American, developed economy perspective. Finally, suggestions for addressing these issues, along with accompanying hypotheses, are presented to further future research.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:54:y:2018:i:5:p:1150-1182

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DOI: 10.1080/1540496X.2017.1286587

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