Purpose: Financial struggles affecting universities across the United States have caused debate about whether business schools are cost prohibitive or cost savvy, especially for small liberal arts universities that lack large endowments and are highly dependent upon...

Prior studies compare keiretsu member firm and independent firm performance. Here, we use historical and power dependence perspectives to theorize that the Japanese keiretsu system primarily benefits the most central firms. We test this by examining the performance of two types of keiretsu firms...