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The Evolution and Restructuring of Diversified Business Groups in Emerging Markets: The Lessons from Chaebols in Korea

In: Competition and Corporate Governance in Korea

Author

Listed:
  • Hicheon Kim
  • Robert E. Hoskisson
  • Laszlo Tihanyi
  • Jaebum Hong

Abstract

Competition and Corporate Governance in Korea critically reviews government policy towards the chaebol and provides a comprehensive investigation of the relationship between corporate governance and economic performance as well as the interaction of economic institutions with the chaebols’ incentive structure and management behaviour. Policy implications based on objective and rigorous empirical analyses of data on the chaebol are also discussed. Notwithstanding the fact that the chaebol have already undergone considerable governance, capital, and business portfolio restructuring, this volume suggests a road map for further restructuring, and the creation of a new incentive structure to help strengthen chaebol competitiveness.

Suggested Citation

  • Hicheon Kim & Robert E. Hoskisson & Laszlo Tihanyi & Jaebum Hong, 2004. "The Evolution and Restructuring of Diversified Business Groups in Emerging Markets: The Lessons from Chaebols in Korea," Chapters, in: Sung-Hee Jwa & In K. Lee (ed.), Competition and Corporate Governance in Korea, chapter 8, pages 219-248, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3507_8
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    Citations

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    Cited by:

    1. Jaeyoung Cho, 2024. "Thriving in the global competitive landscape: competitive dynamics and longevity of emerging market firms," Asian Business & Management, Palgrave Macmillan, vol. 23(1), pages 82-109, February.
    2. Lee, Kyounghun & Oh, Frederick Dongchuhl & Shin, Donglim & Yoon, Heejin, 2023. "Internal labor markets and corporate innovation: Evidence from Korean chaebols," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 146-162.
    3. Zinnia Mitra Bose & Indrani Chakraborty, 2022. "Effects of diversification on firm performance: an analysis of Indian firms," Indian Economic Review, Springer, vol. 57(2), pages 469-511, December.
    4. Kyounghun Lee & Frederick Dongchuhl Oh & Donglim Shin & Heejin Yoon, 2023. "Does venture capital investment enhance corporate innovation? Evidence from Korea," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(1-2), pages 236-266, January.
    5. Anish Purkayastha & Vishal K. Gupta, 2023. "Business group affiliation and entrepreneurial orientation: Contingent effect of level of internationalization and firm’s performance," Asia Pacific Journal of Management, Springer, vol. 40(2), pages 847-876, June.
    6. Marcelo Arend & Vinicius Zuniga Fagotti & Glaison Augusto Guerrero & Pedro Cezar Dutra Fonseca & Julimar da Silva Bichara, 2023. "Development strategies and path dependence: Institutional elements for making sense of Brazil's falling behind and South Korea's forging ahead," PSL Quarterly Review, Economia civile, vol. 76(305), pages 155-180.

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