The last quarter of the twentieth century was characterized by economic reforms in many formerly state-dominated economies. Among them, the reform attempts by China and India have attracted increasing attention in the popular media and academic research. This paper contribute to this research by...

We identify and examine the efficacy of organizational mechanisms through which diversified firms are effectively managed without loss of control. Building on the resource based view of business groups, we argue that business groups in emerging markets use these mechanisms more often and derive...