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| Author: | Lincoln, J. Gerlach, M. Ahmadjian, C. |
| Title: | Keiretsu networks and corporate performance in Japan |
| Journal: | American Sociological Review
1996 : FEB, VOL. 61:1, p. 67-88 |
| Index terms: | SOCIOLOGY JAPAN NETWORKS |
| Language: | eng |
| Abstract: | Using data on 197 large Japanese firms over a 24-year period, the authors study how profitability is affected by firm integration in big-six horizontal keiretsu networks. Combining measures of financial and commercial dependence on a keiretsu group with the governance ties of equity ownership, director transfers, and shacho-kai (presidents' council) membership, they replicate previous studies showing that group firms have lower average profitability than independents. Such findings, however, cannot be taken at face value, because the group effect varies with the prior performance of the firm. |
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