Business group affiliation as institutional linkages in China’s emerging economy: A focus on organizational traits and institutional conditions

Business group affiliation as institutional linkages in China’s emerging economy: A focus on... We conceptualize business group affiliation as institutional linkages by integrating the resource-based view and institutional perspective to examine its direct and moderating effects on firm value in emerging economies. In a sample of 1233 Chinese listed companies, we find that while business group affiliation has mixed direct effects, it moderates the effects of organizational traits and institutional conditions on firm value. Specifically, group affiliation aggravates old firms’ “liability of oldness,” but helps mitigate large firms’ “liability of bigness.” Besides, business group affiliation can reduce the liabilities that institutional voids bring about, as evidenced in its moderating effects on the relationship between regional under-development/industrial restriction and firm value. Our findings point to the moderating effects of business group affiliation in emerging economies. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asia Pacific Journal of Management Springer Journals

Business group affiliation as institutional linkages in China’s emerging economy: A focus on organizational traits and institutional conditions

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Publisher
Springer US
Copyright
Copyright © 2017 by Springer Science+Business Media New York
Subject
Business and Management; Management; Business and Management, general
ISSN
0217-4561
eISSN
1572-9958
D.O.I.
10.1007/s10490-017-9517-0
Publisher site
See Article on Publisher Site

Abstract

We conceptualize business group affiliation as institutional linkages by integrating the resource-based view and institutional perspective to examine its direct and moderating effects on firm value in emerging economies. In a sample of 1233 Chinese listed companies, we find that while business group affiliation has mixed direct effects, it moderates the effects of organizational traits and institutional conditions on firm value. Specifically, group affiliation aggravates old firms’ “liability of oldness,” but helps mitigate large firms’ “liability of bigness.” Besides, business group affiliation can reduce the liabilities that institutional voids bring about, as evidenced in its moderating effects on the relationship between regional under-development/industrial restriction and firm value. Our findings point to the moderating effects of business group affiliation in emerging economies.

Journal

Asia Pacific Journal of ManagementSpringer Journals

Published: Jun 3, 2017

References

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