caa a22 4500 467939667 CHVBK 20180406153008.0 cr unu---uuuuu 170328e20061201xx s 000 0 eng 10.1007/s10490-006-9012-5 doi (NATIONALLICENCE)springer-10.1007/s10490-006-9012-5 Cuervo-Cazurra Alvaro Sonoco Department of International Business, Moore School of Business, University of South Carolina, 1705 College Street, 29208, Columbia, SC, USA aut Business groups and their types [Elektronische Daten] [Alvaro Cuervo-Cazurra] We clarify what business groups are and analyze their various types. We first distinguish business groups from other types of firm networks based on the strategic relationships among companies; business groups are defined as those networks that exhibit unrelated diversification under common ownership. We then separate business groups into three types based on their ownership: family-owned, widely-held, and state-owned. We argue that each type has different agency costs and diversification logics. As a result of these differences, their performance varies, with family-owned business groups outperforming widely-held ones, and these in turn outperforming state-owned business groups. Springer Science+Business Media, LLC, 2006 Business groups nationallicence Diversification nationallicence Family-ownership nationallicence Theory of the firm nationallicence Asia Pacific Journal of Management Springer US; http://www.springer-ny.com 23/4(2006-12-01), 419-437 0217-4561 23:4<419 2006 23 10490 https://doi.org/10.1007/s10490-006-9012-5 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10490-006-9012-5 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Cuervo-Cazurra Alvaro Sonoco Department of International Business, Moore School of Business, University of South Carolina, 1705 College Street, 29208, Columbia, SC, USA aut NATIONALLICENCE 773 0- Asia Pacific Journal of Management Springer US; http://www.springer-ny.com 23/4(2006-12-01), 419-437 0217-4561 23:4<419 2006 23 10490 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer