- Preface and Acknowledgements
- List of Figures
- List of Tables
- China: Authoritarian Capitalism
- Hong Kong: Hybrid Capitalism as Catalyst
- India: From Failed Developmental State Towards Hybrid Market Capitalism
- Indonesia: Oligarchic Capitalism
- Japan: Coordinated Capitalism Between Institutional Change and Structural Inertia
- Laos: Frontier Capitalism
- Malaysia: Personal Capitalism
- The Philippines: Inequality–Trapped Capitalism
- Singapore: Open State-Led Capitalism
- South Korea: Plutocratic State-Led Capitalism Reconfiguring
- Taiwan: Sme-Oriented Capitalism in Transition
- Thailand: Post-Developmentalist Capitalism
- Vietnam: Post-State Capitalism
- Business Groups in Asia: An Institutional Perspective
- Corporate Governance and Business Systems in Asia
- Culture and the Business Systems of Asia
- Employment Relations and Human Resource Management in Asia: Explaining Patterns in Asian Societies
- Financial Systems in Asia: Where Politics Meets Development
- MNEs in Asian Business Systems
- National R&D Systems and Technology Development in Asia
- The Co-evolution of Global Sourcing of Business Support Functions and the Economic Development of Asian Emerging Economies
- Social Capital in Asia: Its Dual Nature and Function
- The Role of the State in Asian Business Systems
- A Survey of Strategic Behaviour and Firm Performance in Asia
- Pictures of the Past: Historical Influences in Contemporary Asian Business Systems
- Beyond Production: Changing Dynamics of Asian Business Groups
- Change and Continuity in East Asian Business Systems
- Asian Business Systems: Implications and Perspectives for Comparative Business Systems and Varieties of Capitalism Research
- Asian Business Systems: Implications for Managerial Practice
Abstract and Keywords
In this article, we explore Asian strategic behaviors and firm performance outcomes that business systems theory suggests are related to a country’s institutions. Based on a review of mainstream management and business journal publications, we identified four salient Asian strategic behaviors: internationalization strategies, network-based strategies, diversification and acquisition strategies, and ownership strategy. Using firm-level panel data, this article found that between 1997 and 2010, indigenous firm performance varied significantly across countries in Asia: Chinese firms had the highest mean and growth but the lowest skewness in performance, whereas the opposite was found for Japanese firms. Firms in other Asian countries fell between the two. This article also found that performance means were negatively associated with skewness, which was in turn significantly influenced by macro-economic conditions. This article contributes to the literature on business systems and varieties of capitalism as well as on international strategic management.
Shige Makino is Professor and Chairman of the Department of Management at the Chinese University of Hong Kong, Hong Kong.
Daphne W. Yiu is an Associate Professor at the Department of Management at the Chinese University of Hong Kong, Hong Kong.
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