Title

Disaggregating the Group Effect: Vertical and Horizontal Keiretsu in Changing Economic Periods

Publication Type

Journal Article

Publication Date

2011

Abstract

This paper examines the evolution of keiretsu group affiliation among members of horizontal and verticalkeiretsu in Japan over two time periods: 1992–1997, and 1997–2002. We found that ties were more stable in the later time period and therefore restricted our empirical analysis to the 1992–1997 period. We also found differences in the response of vertically and horizontally linked groups to economic downturn and capital market change—vertically linked groups weakened their ties while horizontally linked groups showed more stability.

Keywords

Horizontal keiretsu, Vertical keiretsu, Economic change, Regulatory change

Discipline

Asian Studies | Strategic Management Policy

Research Areas

Strategy and Organisation

Publication

Asia Pacific Journal of Management

Volume

28

Issue

2

First Page

299

Last Page

323

ISSN

0217-4561

Identifier

10.1007/s10490-009-9160-5

Publisher

Springer Verlag