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- catalog abstract "We identify the coordinating ties that delineate the boundaries of business groups in one emerging economy, Chile. In doing so, we are unusually careful to distinguish these ties from the social and economic bonds that pervade the Chilean economy as a whole. Pairs of firms within groups are especially likely to be tied by equity through a third party and to share a major shareholder. Director interlocks also play an important role in delineating groups. Family ties and direct equity linkages, though statistically significant, are less prominent in defining group boundaries than previous, field-based and theoretical literature might suggest. Non-equity ties like director interlocks are not mere vestiges of the past, but have impact on expected future cash flows. Overall, the findings shed light on the organizational arrangements and coordinating mechanisms that arise in an emerging economy where ordinary market mechanisms fail. In such a setting, business groups--tight, multifaceted networks within the larger, looser network that constitutes the economy--appear to play an especially prominent role.".
- catalog contributor b11742805.
- catalog contributor b11742806.
- catalog contributor b11742807.
- catalog created "c2000.".
- catalog date "2000".
- catalog date "c2000.".
- catalog dateCopyrighted "c2000.".
- catalog description "Includes bibliographical references (p. 47-53).".
- catalog description "We identify the coordinating ties that delineate the boundaries of business groups in one emerging economy, Chile. In doing so, we are unusually careful to distinguish these ties from the social and economic bonds that pervade the Chilean economy as a whole. Pairs of firms within groups are especially likely to be tied by equity through a third party and to share a major shareholder. Director interlocks also play an important role in delineating groups. Family ties and direct equity linkages, though statistically significant, are less prominent in defining group boundaries than previous, field-based and theoretical literature might suggest. Non-equity ties like director interlocks are not mere vestiges of the past, but have impact on expected future cash flows. Overall, the findings shed light on the organizational arrangements and coordinating mechanisms that arise in an emerging economy where ordinary market mechanisms fail. In such a setting, business groups--tight, multifaceted networks within the larger, looser network that constitutes the economy--appear to play an especially prominent role.".
- catalog extent "53 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; 00-068.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 00-068".
- catalog issued "2000".
- catalog issued "c2000.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Ties that bind business groups : evidence from an emerging economy / Tarun Khanna and Jan W. Rivkin.".
- catalog type "text".