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date: 21 May 2019

Abstract and Keywords

The goal of this article is to offer an integrative framework for studying the governance of business groups. It begins with a brief summary of the studies focused on the governance of business groups. Next, it reviews key theoretical perspectives, including agency, resource dependence, institutional theory, and the rubber-stamp model. This article also examines how board roles may vary across groups in different nations. Next, it examines factors that affect how groups are organized, using the framework of horizontal and vertical connections proposed by Yiu and colleagues. Finally, it integrates these sections to lay out an agenda for future studies. It also develops a series of promising research questions across levels of analysis including the governance of business group types as well as member firms within the business group and institution differences and associated governance requirements.

Keywords: business groups, governance, agency, resource dependence, institutional theory, rubber-stamp model

Brian K. Boyd

Brian K. Boyd is Associate Professor at the W. P. Carey School at Arizona State University, United States. His primary research interests include corporate governance, strategy implementation, research methods, and international management. He is currently Associate Editor of Corporate Governance: An International Review, and presently serves on the editorial boards of Strategic Management Journal, Management & Organization Review, Organizational Research Methods, and Journal of Management.

Robert E. Hoskisson

Robert E. Hoskisson currently holds the George R. Brown Chair of Management at the Jesse H. Jones Graduate School of Management at Rice University, United States. His research focuses on: corporate and international diversification strategies; governance and innovation, and entrepreneurship; acquisitions and divestitures; business groups and strategies of emerging economy firms; and cooperative strategy. Professor Hoskisson's research has been published widely in top management journals and he has co‐authored over twenty books. He is currently an Associated Editor of the Strategic Management Journal as well as serving in a number of other editorial roles or as a board member at other journals. He is a Fellow of the Strategic Management Society and the Academy of Management.

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