Author: Dow Sandra
Publisher: Springer Publishing Company
ISSN: 0217-4561
Source: Asia Pacific Journal of Management, Vol.28, Iss.2, 2011-06, pp. : 299-323
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Abstract
This paper examines the evolution of keiretsu</i> group affiliation among members of horizontal and vertical keiretsu</i> 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.