(p. xiii) List of Tables
(p. xiii) List of Tables
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1.1 Levels of per capita GDP in late and early industrializing economies,1820–2006 (1990 international Geary-Khamis dollars) 3
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2.1 Stylized characteristics of the three major categories of business groups 17
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2.2 Stylized characteristics of comparable organization models 24
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2.3 The largest economic players in late‐industrializing countries (except Japan), 2007 32
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2.4 The largest private industrial economic agents in late‐industrializing countries (except Japan), 1987–2007 39
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3.1 Multi‐regional business groups by 1914 71
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3.2 Typology of the business groups around British trading companies, c.1870s–c.1970s 76
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3.3 John Swire & Son group, c.1914 79
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3.4 Harrisons & Crosfield group, c.1914 81
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3.5 Jardine Matheson group, c.1938 83
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4.1 Evolution of business groups in Japan 102
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4.2 The proportion of group firms among the largest 100 industrial firms in Japan, 1921–42 105
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4.3 Ownership structure and capital composition of business groups in Japan, 1921–37 109
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4.4 Diversification of business groups in Japan, 1890–1937 112
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4.5 Performance indexes and business groups in Japan, 1921–37 121
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5.1 Member companies of presidents’ councils (shacho‐kai) of six major horizontal keiretsu groups in Japan, 1993 131
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6.1 The top thirty business groups in Korea, 2006 160
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6.2 Goals and achievements of the five‐year economic development plans, 1962–81 162
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6.3 Leading Korean multinational firms, 2003 170
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(p. xiv) 7.1A Top thirty Taiwanese business groups, 1973 183
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7.1B Top thirty Taiwanese business groups, 2006 187
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7.2 Economic significance of the top 100 Taiwanese business groups, 1973–2006 188
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7.3 Industrial diversification of the top 100 Taiwanese business groups, 1981–2004 191
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7.4 Internationalization of the top 100 Taiwanese business groups, 1981–2002 193
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7.5 Characteristics of the inner circle of the top 100 Taiwanese business groups, 1981–98 198
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7.6 Top thirty most innovative Taiwanese groups based on domestic patent applications, 2005 201
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7.7 Input, output, and capability of forty-eight listed group affiliates in Taiwan, 1990–8 205
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8.1 Basic statistics of business groups in China, 1998–2007 212
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8.2 Chinese firms in Fortune's Global 500, 2006 214
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8.3 Largest business groups in China, 2006 215
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8.4 China's top 500 business groups by sector, 2006 217
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8.5 Distribution by the levels of state units in charge, 2007 221
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8.6 Distribution by types of parent companies, 2007 223
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8.7 Main economic indicators of top 500 groups by types of parent companies, 2005 225
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8.8 Average size of top 500 groups by the ownership types, 2006 226
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8.9 Research and development expenditure of business groups, 2001–5 228
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8.10 Trends and degree of diversification 230
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8.11 Growth performance of top 500 business groups (yearly growth in %),2002–6 232
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8.12 Economic efficiency of China's top 500 business groups, 2002–6 232
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8.13 Comparison of business groups with non‐business groups 233
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9.1 Top 100 companies in Thailand by total sales and capital ownership, 1979–2004 239
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9.2 Largest forty business groups in Thailand, 1979–2000 244
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(p. xv) 9.3 Largest forty business groups in Thailand and their business lines, 2000 248
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9.4 Directorship of the Chirathivat family in the Central Department Store group, 2003 254
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9.5 Ownership of commercial banks, 2008 262
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10.1 Basic information on the largest business groups in Singapore, 2006 269
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10.2 Principal activities of the Singaporean business groups, 2006 273
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10.3 Percentage of subsidiaries of business groups that operated outside Asia out of the total number of subsidiaries, 1997 and 2006 278
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10.4 Equity holding in the business group's core company by the largest block shareholder, 1997 and 2006 280
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10.5 Percentage of outside directors on the board of the core companies of the business groups, 1997 and 2006 281
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10.6 Identities of board chair/president, CEOs/managing directors in government‐linked corporations, 1997 and 2006 282
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10.7 Relationships of board chair/president, CEOs/managing directors to the controling families of the private business groups, 1997 and 2006 287
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11.1 Top ten business groups in India, 2006 302
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11.2 Evolution of top twenty business groups, 1969–2006 304
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11.3 Promoter ownership by type in major group affiliates, March 2007 308
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11.4 Board characteristics of 500 large Indian companies, 2003 310
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11.5 Share of the industry accounting for the largest proportion of group assets in the top ten business groups, 1991–2006 (%) 313
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12.1 Business groups in Argentina: Preliminary profile 327
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12.2 Business groups in Argentina: Origins 330
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12.3 Business groups in Argentina: Ownership 335
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12.4 Business groups in Argentina: Publicly traded companies 335
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12.5 Business groups in Argentina: Active family involvement 336
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12.6 Business groups in Argentina: Overlapping generations in family businesses 336
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12.7 Business groups in Argentina: Governance—board composition 337
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12.8 Business groups in Argentina: Governance—interlocking directorates 337
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12.9 Business groups in Argentina: Organizational structure 337
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(p. xvi) 12.10 Business groups in Argentina: Dynamics of business diversification 340
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13.1 The largest economic units in Brazil, 2007 355
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13.2 Brazilian business groups’ companies listed on Bovespa, 2007 364
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13.3 Top twenty largest private business groups, 1978, 1988, 1998, and 2005 370
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13.4 Identity of the largest ultimate shareholders, 1997–2002 376
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13.5 Cash‐flow rights, voting rights, and discrepancies between rights, public companies, and listed firms, 1997–2002 376
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13.6 Controlling shareholders’ participation in the management and boards of directors of business groups’ publicly traded companies, 2007 377
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14.1 Main features of the twenty‐five largest business groups in Chile, 2007 393
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14.2 Importance of Chilean conglomerates, 1990–2002 396
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14.3 Pyramidal schemes, 1990–2004 399
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14.4 Ownership and control structure of Chilean conglomerates, 2002 400
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14.5 Board composition, 1994–2003 402
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14.6 Independent board members, 2000–3 403
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14.7 Control structure of Chilean conglomerates, 1990–2002 405
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14.8 Capital structure of Chilean conglomerates, 1990–2002 406
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14.9 Sectors of economic activity of main Chilean business groups 408
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15.1 The twenty largest business groups in Mexico, 2006 427
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15.2 Principal activities of the twenty largest Mexican business groups, 2006 430
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15.3 Overseas activities of principal subsidiaries of business groups, 2006 440
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15.4 Shareholding in principal listed companies of business groups by the largest block shareholder, 2006 447
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15.5 Chairman and CEO of principal listed companies of business groups, 2006 450
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16.1 Distribution of business groups affiliated firms by industry, 1966 465
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16.2 History of the Israeli business groups 471
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16.3 Sample statistics: Group‐affiliated vs. unaffiliated firms, 1995–2005 481
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16.4 Group affiliation and performance regressions, quarterly data, 1995–2005 482
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(p. xvii) 17.1 The fifty largest economic players in Turkey, 2005 491
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17.2 Significance levels of Turkish economic players, 2005 495
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17.3 Competitive capabilities of the largest business groups, 2007 497
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17.4 Direction of industry diversification of the fifty largesteconomic players, 2005 500
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17.5 Internationalization of Turkish business groups, 2007 506
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17.6 The Koç group's growth strategy from the 1920s to 2007 508
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17.7 Interlocking directorates at Beko Elektronik, Arçelik, and Koç Holding, 2007 513
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17.8 Composition of the board of directors in the largest holding companies in Turkey, 2007 517
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17.9 Board composition at Koç Holding, 1981–2005 518
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17.10 Top management composition at Koç Holding, 1981–2005 519
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18.1 Russian oligarchs, 2003 529
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18.2 Sectoral structure of selected Russian business groups, 2008 537
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18.3 Sectoral structure of the Basic Element business group 538
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19.1 South Africa's largest business groups in the 1980s 550
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19.2 Summary of control of JSE market capitalization (% of total),1986–2006 554
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19.3 The main “black oligarchs”, 2007 563
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20.1 Group affiliation around the world 577
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20.2 Group heterogeneity around the world 578
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24.1 Research questions on the governance of business groups 685
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26.1 Strategy and diversification in business groups 728
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26.2 Capability development in business groups 734
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28.1 Transition in electronics: From OEM to ODM to OBM 767