İŞLETME GRUPLARININ ÖZELLİKLERİ: GRUPLARA BAĞLI VE BAĞIMSIZ FİRMALARIN KARŞILAŞTIRILMASI

Bu çalışma, işletme grubuna bağlı firmaların grup içindeki diğer firmalarla bilgi paylaşımı ve sosyal ilişkilerini grup dışındaki firmalarla ilişkileri ile karşılaştırmaktadır. Ayrıca bu çalışma, bir gruba bağlı ve bağımsız firmaları performans ve inovasyonları bakımından karşılaştırmaktadır. Türk işletme gruplarına bağlı ve bağımsız 128 firmadan elde edilen anket verisi incelendiğinde, gruba bağlı firmaların örtük, açık bilgi paylaşımı ve güven ilişkilerinin grup içi ve dışında farklılaştığı görülmektedir. Gruba bağlı ve bağımsız firmaların performans, inovasyon ile kurumsal destek, örgütsel sermaye ve özümseme kapasitesinin farklı olmadığı görülmektedir. Bu çalışma, gelişmekte olan bir ekonomide gruba bağlılığın firmalar için değer yaratma durumunu incelemesi bakımından işletme grupları yazınına katkı sağlamaktadır.

CHARACTERISTICS OF BUSINESS GROUPS: A COMPARISON BETWEEN GROUP AFFILIATED AND UNAFFILIATED FIRMS

The present study examines whether business group affiliates engage in social capital and knowledge sharing relations with firms within their groups more than they do with peers outside the group. In addition, this study compares group affiliated and independent firms in terms of performance and innovation. Using survey data from 128 Turkish business group affiliated and independent manufacturing firms, findings indicate that while group firms’ relations within and outside the group show significant differences in terms of tacit, explicit knowledge sharing and social capital in the form of trust, affiliated and independent firms do not differ in terms of performance, innovation and other characteristics, such as institutional support, organizational capital and absorptive capacity. This study contributes to the business group research by examining whether affiliation creates value for firms in an emerging economy.

___

  • Acquaah, M. (2012). Social Networking Relationships, Firms Specific Managerial Experience and Firm performance in a Transition Economy: A Comparative Analysis of Family owned and Non-family Firms. Strategic Management Journal, 33(10), 1215-1228.
  • Bamiatzi, V., Cavusgil, S.T., Jabbour, L., & Sinkovics, R.R. (2014). Does Business Group Affiliation Help Firms Achieve Superior Performance during Industrial Downturns? An Empirical Examination. International Business Review, 23(1), 195-211.
  • Becerra, M., Lunnan, R., & Huemer, L. (2008). Trustworthiness, Risk, and the Transfer of Tacit and Explicit Knowledge between Alliance Partners. Journal of Management Studies, 45, 691-713.
  • Belenzon, S., & Berkovitz, T. (2010). Innovation in Business Groups. Management Science, 56(3), 519-535.
  • Borda, A., Geleilate, J.M.G., Newburry, W., & Kundu, S.K. (2017). Firm Internationalization, Business Group Diversification and Firm Performance: The Case of Latin American Firms. Journal of Business Research, 72, 104-113.
  • Bucheli, M., Salvaj, E., & Kim, M. (2019). Better Together: How Multinationals Come Together with Business Groups in Times of Economic and Political Transitions. Global Strategy Journal, 9(2), 176-207.
  • Carney, M., Gedajlovic, E.R., Heugens, P.P.M.A.R., van Essen, M., & van Oosterhout, J. (2011). Business Group Affiliation, Performance, Context and Strategy: A Meta-Analysis. Academy of Management Journal, 54(3), 437-460.
  • Carney, M., van Essen, M., Estrin, S., & Shapiro, D. (2018). Business Groups Reconsidered: Beyond Paragons and Parasites. Academy of Management Perspectives, 32(4), 493-516.
  • Castellacci, F. (2015). Institutional Voids or Organizational Resilience? Business Groups, Innovation and Market Development in Latin America. World Development, 70, 43-58.
  • Chang, S.J., & Choi, U. (1988). Strategy, Structure and Performance of Korean Business Groups: A Transactions Cost Approach. The Journal of Industrial Economics, 37(2), 141-158.
  • Chang, S.J., Chung, C.N., & Mahmood, I.P. (2006). When and How Does Business Group Affiliation Promote Firm Innovation? A Tale of Two Emerging Economies. Organization Science, 17(5), 637-656.
  • Chang, Y.Y., Gong, Y., & Peng, M.W. (2012). Expatriate Knowledge Transfer, Subsidiary Absorptive Capacity, and Subsidiary Performance. Academy of Management Journal, 55(4), 927-948.
  • Changwony, F.K., & Kyiu, A.K. (2023). Business strategies and corruption in small- and medium-sized enterprises: The impact of business group affiliation, external auditing, and international standards certification. Business Strategy and the Environment, https://doi.org/10.1002/bse.3333
  • Choi, S.B., Lee, S.H., & Williams, C. (2011). Ownership and Firm Innovation in a Transition Economy: Evidence from China. Research Policy, 40(3), 441-452.
  • Cohen, W.M., & Levinthal, D.A. (1990). Absorptive Capacity: A New Perspective on Learning and Innovation. Administrative Science Quarterly, 35(1), 128-152.
  • De Clercq, D., Dimov, D., & Thongpapanl, N. (2010). The Moderating Impact of Internal Social Exchange Processes on the Entrepreneurial Orientation–Performance Relationship. Journal of Business Venturing, 25(1), 87-103.
  • Dhanaraj, C., Lyles, M.A., Steensma, H.K., & Tihanyi, L. (2004). Managing Tacit and Explicit Knowledge Transfer in IJVs: The Role of Relational Embeddedness and the Impact on Performance. Journal of International Business Studies, 35, 428-442.
  • Dou, H., Li, A., &, Luo, Y. (2021). Innovation in Business Groups: Evidence from China. Emerging Markets Finance and Trade, 57(9), 2503-2513.
  • Escribano, A., Fosfuri, A., & Tribo, J.A. (2009). Managing External Knowledge Flows: The Moderating Role of Absorptive Capacity. Research Policy, 38(1), 96-105.
  • Ettlie, J.E., & Pavlou, P.A. (2006). Technology-Based New Product Partnerships. Decision Sciences, 37(2), 117-147.
  • Ferris, S.P., Kim K.A., & Kitsabunnarat, P. (2003). The Costs (and Benefits?) of Diversified Business Groups: The Case of Korean Chaebols. Journal of Banking & Finance, 27(2), 251-273.
  • Fey, C.F., & Furu, P. (2008). Top Management Incentive Compensation and Knowledge Sharing in Multinational Corporations. Strategic Management Journal, 29(12), 1301-1323.
  • Filatotchev, I., Piga, C., & Dyomina, N. (2003). Network Positioning and R&D Activity: A Study of Italian Groups. R&D Management, 33(1), 37-48.
  • Gaur, A.S., Mukherjee, D., Gaur, S.S., & Schmid, F. (2011). Environmental and Firm Level Influences on Inter-Organizational Trust and SME Performance. Journal of Management Studies, 48, 1752-1781.
  • Gaur, A.S., Pattnaik, C., Singh, D., & Lee, J.Y. (2019). Internalization Advantage and Subsidiary Performance: The Role of Business Group Affiliation and Host Country Characteristics. Journal of International Business Studies, 50, 1253-1282.
  • Gonenc, H., Kan, O.B., & Karadagli, E.C. (2007). Business Groups and Internal Capital Markets. Emerging Markets Finance and Trade, 43(2), 63-81.
  • Granovetter, M. (1995). Coase Revisited: Business Groups in the Modern Economy. Industrial and Corporate Change, 4(1), 93-130.
  • Granovetter, M. (2005). Business Groups and Social Organization. In N. Smelser & R Swedberg (Ed.), The Handbook of Economic Sociology, 2nd ed. (pp.429-450). Princeton, NJ: Princeton University Press.
  • Grant, R.M. (1996). Prospering in Dynamically-Competitive Environments: Organizational Capability as Knowledge Integration. Organization Science, 7(4), 375-387.
  • Gu, Q., Lu, J.W., & Chung, C.N. (2019). Incentive or Disincentive? A Socioemotional Wealth Explanation of New Industry Entry in Family Business Groups. Journal of Management, 45(2), 645-672.
  • Gunduz, L., & Tatoglu, E. (2003). A Comparison of the Financial Characteristics of Group Affiliated and Independent Firms in Turkey. European Business Review, 15(1), 48-54.
  • Gupta, A.K., & Govindarajan, V. (2000). Knowledge Flows within Multinational Corporations. Strategic Management Journal, 21(4), 473-496.
  • Guzzini, E., & Iacobucci, D. (2014a). Business Group Affiliation and R&D. Industry and Innovation, 21(1), 20-42.
  • Guzzini, E., & Iacobucci, D. (2014b). Ownership as R&D Incentive in Business Groups. Small Business Economics, 43(1), 119-135.
  • Hair, J.F., Black, W.C., Babin, B.J., & Anderson, R.E. (2010). Multivariate Data Analysis. 7th ed. New Jersey: Pearson.
  • Hearn, B., Oxelheim, L., & Randoy, T. (2018). The Institutional Determinants of Private Equity Involvement in Business Groups—The Case of Africa. Journal of World Business, 53, 118-133.
  • Hobday, M., & Colpan, A.M. (2010). Technological Innovation and Business Groups. In A.M. Colpan, T. Hikino & J.R. Lincoln (Ed.), The Oxford Handbook of Business Groups (pp.763-781). New York, NY: Oxford University Press.
  • Holmes, R.M., Hoskisson, R.E., Kim, H., Wan, P.W., & Holcomb, T.R. (2018). International Strategy and Business Groups: A Review and Future Research Agenda. Journal of World Business, 53(2), 134-150.
  • Hsieh, T.J., Yeh, R.S., & Chen, Y.J. (2010). Business Group Characteristics and Affiliated Firm Innovation: The Case of Taiwan. Industrial Marketing Management, 39(4), 560-570.
  • Inkpen, A.C., & Tsang, E.W.K. (2005). Social Capital, Networks and Knowledge Transfer. Academy of Management Review, 30(1), 146-165.
  • Inkpen, A.C., & Tsang, E.W.K. (2016). Reflections on the 2015 Decade Award - Social Capital, Networks, and Knowledge Transfer: An Emergent Stream of Research. Academy of Management Review, 41(4), 573-588.
  • Jiang, X., & Li, Y. (2009). An Empirical Investigation of Knowledge Management and Innovative Performance: The Case of Alliances. Research Policy, 38(2), 358-368.
  • Kandel, E., Kosenko, K., Morck, R., & Yafeh, Y. (2019). The Great Pyramids of America: A Revised History of U.S. Business Groups, Corporate Ownership, and Regulation, 1926–1950. Strategic Management Journal, 40, 781-808.
  • Kang, J., & Lee, J.Y. (2017). Performance Effects of Explorative and Exploitative Knowledge Sharing within Korean Chaebol MNEs in China. International Journal of Technology Management, 74(1-4), 70-95.
  • Keister, L. (2001). Exchange Structures in Transition: Lending and Trade Relations in Chinese Business Groups. American Sociological Review, 66, 336-360.
  • Khanna, T., & Palepu, K. (2000a). Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups. The Journal of Finance, 55(2), 867-891.
  • Khanna, T., & Palepu, K. (2000b). The Future of Business Groups in Emerging Markets: Long-Run Evidence from Chile. Academy of Management Journal, 43(3), 268-285.
  • Khanna, T., & Rivkin, J.W. (2001). Estimating the Performance Effects of Business Groups in Emerging Markets. Strategic Management Journal, 22, 45-74.
  • Kim, H., Hoskisson, R.E., & Wan, W.P. (2004). Power Dependence, Diversification Strategy, and Performance in Keiretsu Member Firms. Strategic Management Journal, 25(7), 613-636.
  • Kim, H., Kim, H., & Hoskisson, R.E. (2010). Does Market-oriented Institutional Change in an Emerging Economy Make Business-group-affiliated Multinationals Perform Better? An Institution-based View. Journal of International Business Studies, 41(7), 1141-1160.
  • Komera, S., Lukose, P.J.J., & Sasidharan, S. (2018). Does Business Group Affiliation Encourage R&D Activities? Evidence from India. Asia Pacific Journal of Management, 35(4), 887-917.
  • Kumar, T.V.A., & Manikandan, K.S. (2022). Business group affiliation and competitive repertoire. https://doi.org/10.1007/s10490-022-09855-4
  • Lamin, A. (2013). Business Groups as Information Resource: An Investigation of Business Group Affiliation in the Indian Software Services Industry. Academy of Management Journal, 56(5), 1487-1509.
  • Lane, P.J., Salk, J.E., & Lyles, M.A. (2001). Absorptive Capacity, Learning, and Performance in International Joint Ventures. Strategic Management Journal, 22(12), 1139-1161.
  • Laursen, K., Masciarelli, F., & Prencipe, A. (2012). Regions Matter: How Localized Social Capital Affects Innovation and External Knowledge Acquisition. Organization Science, 23(1), 177-193.
  • Lee, J.Y., Choi, B.C., Ghauri, P.N., & Park, B.I. (2021). Knowledge Centralization and International R&D Team Performance: Unpacking the Moderating Roles of Team-specific Characteristics. Journal of Business Research, 128, 627-640.
  • Lee, K., Choo, K., & Yoon, M. (2016). Comparing the Productivity Impacts of Knowledge Spillovers from Network and Arm’s Length Industries: Findings from Business Groups in Korea. Industrial and Corporate Change, 25(3), 407-427.
  • Lee, C.Y., Lee, J.H., & Gaur, A.S. (2017). Are Large Business Groups Conducive to Industry Innovation? The Moderating Role of Technological Appropriability. Asia Pacific Journal of Management, 34(2), 313-337.
  • Lee, J.Y., & MacMillan, I. (2008). Managerial Knowledge Sharing in Chaebols and its Impact on the Performance of Their Foreign Subsidiaries. International Business Review, 17(5), 533-545.
  • Lee, J.Y., MacMillan, I.C., & Choe, S. (2010). Technological Knowledge Transfer within Chaebols after the 1997-98 Crisis. Long Range Planning, 43(5-6), 585-610.
  • Lee, J.Y., Yang, Y.S., & Park, B.I. (2020). Interplay between Dual Dimensions of Knowledge Sharing within Globalized Chaebols: The Moderating Effects of Organization Size and Global Environmental Munificence. International Business Review, 29(6), 101637, https://doi.org/10.1016/j.ibusrev.2019.101637
  • Leff, N.H. (1978). Industrial Organization and Entrepreneurship in the Developing Countries: The Economic Groups. Economic Development and Cultural Change, 26(4), 661-675.
  • Lodh, S., Nandy, M., & Chen, J. (2014). Innovation and Family Ownership: Empirical Evidence from India. Corporate Governance: An International Review, 22(1), 4-23.
  • Ma, X., Yao, X., & Xi, Y. (2006). Business Group Affiliation and Firm Performance in a Transition Economy: A Focus on Ownership Voids. Asia Pacific Journal of Management, 23(4), 467-483.
  • Mahmood, I., Chung, C.N., & Mitchell, W. (2013). The Evolving Impact of Combinatorial Opportunities and Exhaustion on Innovation by Business Groups as Market Development Increases: The Case of Taiwan. Management Science, 59(5), 1142-1161.
  • Mahmood, I.P., & Mitchell, W. (2004). Two Faces: Effects of Business Groups on Innovation in Emerging Economies. Organization Science, 50(10), 1348-1365.
  • Mahmood, I.P., Zhu, H., & Zaheer, A. (2017). Centralization of Intragroup Equity Ties and Performance of Business Group Affiliates. Strategic Management Journal, 38, 1082-1100.
  • Mahmood, I.P., Zhu, H., & Zajac, E.J. (2011). Where Capabilities come from? Network ties and capability acquisition in Business Groups. Strategic Management Journal, 32(8), 820-848.
  • March, J.G. (1991). Exploration and Exploitation in Organizational Learning. Organization Science, 2(1), 71-87.
  • Min, Y., Liao, Y.C., & Chen, Z. (2022). The side effect of business group membership: How do business group isomorphic pressures affect organizational innovation in affiliated firms? Journal of Business Research, 141, 380-392.
  • Molina-Morales, F.X., & Martinez-Fernandez, M.T. (2003). The Impact of Industrial District Affiliation on Firm Value Creation. European Planning Studies, 11(2), 155-170.
  • Molina-Morales, F.X., & Martinez-Fernandez, M.T. (2004). Factors that Identify Industrial Districts: An Application in Spanish Manufacturing Firms. Environment and Planning A, 36(1), 111-126.
  • Molina-Morales, F.X., & Martinez-Fernandez, M.T. (2009). Too Much Love in the Neighborhood Can Hurt: How an Excess of Intensity and Trust in Relationships May Produce Negative Effects on Firms. Strategic Management Journal, 30, 1013-1023.
  • Mukherjee, D., Makarius, E.E., & Stevens, C.E. (2018). Business Group Reputation and Affiliates’ Internationalization Strategies. Journal of World Business, 53(2), 93-103.
  • Pattnaik, C., Lu, Q., & Gaur, A.S. (2018). Group Affiliation and Entry Barriers: The Dark Side Of Business Groups In Emerging Markets. Journal of Business Ethics, 153(4), 1051-1066.
  • Podsakoff, P.M., MacKenzie, S.B., Lee, J.Y., & Podsakoff, N.P. (2003). Common Method Biases in Behavioral Research: A Critical Review of the Literature and Recommended Remedies. Journal of Applied Psychology, 88(5), 879-903.
  • Prescott, E.C., & Visscher, M. (1980). Organizational Capital. Journal of Political Economy, 88(3), 446-461.
  • Purkayastha, A., Gupta, V.K. (2022). Business group affiliation and entrepreneurial orientation: Contingent effect of level of internationalization and firm’s performance. Asia Pacific Journal of Management. https://doi.org/10.1007/s10490-022-09809-w
  • Purkayastha, S., Kumar, V., & Lu, J.W. (2017). Business Group Heterogeneity and the Internationalization-performance Relationship: Evidence from Indian Business Groups. Asia Pacific Journal of Management, 34, 247-279.
  • Ray, S., & Chaudhuri, B.R. (2018). Business Group Affiliation and Corporate Sustainability Strategies of Firms: An Investigation of Firms in India. Journal of Business Ethics, 153(4), 955-976.
  • Reed, K.K., Lubatkin, M, & Srinivasan, N. (2006). Proposing and Testing an Intellectual Capital-Based View of the Firm. Journal of Management Studies, 43(4), pp.867-893.
  • Rhee, M., & Kim, T. (2019). Exploiting Old Lessons and Exploring New Ideas: A Confucian Approach to Exploitation and Exploration. Asia Pacific Journal of Management, 36, 773-795.
  • Saiyed, A.A., Eryaysoy, E., Mondal, A., & Dhandapani, K. (2023). Business group affiliation and internationalization of new ventures: Moderating role of industry and liberalization. Journal of Business Research, 157, 113610. https://doi.org/10.1016/j.jbusres.2022.113610
  • Shahab, Y., Hussain, T., Wang, P., Zhong, M., & Kumar, S. (2023). Business groups and environmental violations: Evidence from China. International Review of Financial Analysis, 85, 102459. https://doi.org/10.1016/j.irfa.2022.102459
  • Simonin, B.L. (1999). Transfer of Marketing Know-How in International Strategic Alliances: An Empirical Investigation of the Role and Antecedents of Knowledge Ambiguity. Journal of International Business Studies, 30(3), 463-490.
  • Singh, D.A., & Gaur, A.S. (2009). Business Group Affiliation, Firm Governance, and Firm Performance: Evidence from China and India. Corporate Governance: An International Review, 17(4), 411-425.
  • Singh, D.A., & Gaur, A.S. (2013). Governance Structure, Innovation and Internationalization: Evidence From India. Journal of International Management, 19(3), 300-309.
  • StataCorp. 2015. Stata Statistical Software: Release 14. College Station, TX: StataCorp LP.
  • Subramaniam, M., & Youndt, M.A. (2005). The Influence of Intellectual Capital on the Types of Innovative Capabilities. The Academy of Management Journal, 48(3), 450-463.
  • Tajeddin, M., & Carney, M. (2018). African Business Groups: How Does Group Affiliation Improve SMEs’ Export Intensity? Entrepreneurship Theory and Practice, 43(6), 1194-1222.
  • Tobin, J. (1969). A General Equilibrium Approach To Monetary Theory. Journal of Money, Credit and Banking, 1(1), 15-29.
  • Tomlinson, P.R. (2010). Co-operative Ties and Innovation: Some New Evidence for UK Manufacturing. Research Policy, 39(6), 762-775.
  • Tomlinson, P.R., & Jackson, I. (2013). Cooperative Ties and the Impact of External Factors upon Innovation in an Industrial District: Some Insights from the North Staffordshire Table and Giftware Sector. Regional Studies, 47(4), 580-596.
  • Tsai, W., & Ghoshal, S. (1998). Social Capital and Value Creation: The role of Intrafirm Networks. The Academy of Management Journal, 41, 464-476.
  • Wang, R., Heugens, P.P.M.A.R., & Wijen, F. (2023). Green by Affiliation? Ownership Identity and Environmental Management System Adoption in Chinese Business Groups. Journal of Management. https://doi.org/10.1177/01492063221143721
  • Wang, C., Yi, J., Kafouros, M., & Yan, Y. (2015). Under What Institutional Conditions Do Business Groups Enhance Innovation Performance? Journal of Business Research, 68(3), 694-702.
  • Wernerfelt, B., & Montgomery, C.A. (1988). Tobin's q and the Importance of Focus in Firm Performance. The American Economic Review, 78(1), 246-250.
  • Wu, L., Wei, Y., & Wang, C. (2021). Disentangling the Effects of Business Groups in the Innovation-export Relationship. Research Policy, 50(1), 104093, https://doi.org/10.1016/j.respol.2020.104093
  • Yiu, D.W., Hoskisson, R.E., Bruton, G.D., & Lu, Y. (2014). Dueling Institutional Logics and The effect on Strategic Entrepreneurship in Chinese Business Groups. Strategic Entrepreneurship Journal, 8(3), 195-213.
  • Yiu, D., Hoskisson, R.E., & Lu, Y. (2003). Corporate Entrepreneurial Intensity of Chinese Firms: Institutional Effects of Business Groups’ Social Capital and Control Mechanisms and Government Legacy and Policy. Accessed: https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.199.1855&rep=rep1&type=pdf
  • Yiu, D.W., Lu, Y., Bruton, G.D., & Hoskisson, R.E. (2007). Business Groups: An Integrated Model to Focus Future Research. Journal of Management Studies, 44(8), 1551-1579.
  • Zahra S.A., & George, G. (2002). Absorptive Capacity: A Review, Reconceptualization, and Extension. The Academy of Management Journal, 27(2), 185-203.
  • Zattoni, A., Pedersen, T., & Kumar, V. (2009). The Performance of Group-affiliated Firms during Institutional Transition: A Longitudinal Study of Indian Firms. Corporate Governance: An International Review, 17(4), 510-523.
Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi-Cover
  • ISSN: 1308-2922
  • Yayın Aralığı: Yılda 6 Sayı
  • Başlangıç: 2008
  • Yayıncı: Pamukkale Üniversitesi