A REVIEW ON BUSINESS GROUP AFFILIATION, DIVERSIFICATION STRATEGIES AND FIRM PERFORMANCE

Abstract

Product diversification and international diversification are the strategies that are implemented by firms in emerging and developed economies. These strategies have favorable or negative impacts on firm performance and firms’ context may affect this relationship. Business group is one of the contexts that may affect the relations between product diversification strategy, international diversification strategy and firm performance. Business groups can provide member firms with valuable resources and knowledge for pursuing these strategies. Existing studies have examined the diversification strategies and performance relations in various economies and several moderating factors in this relationship; however, the role of business group affiliation has been addressed to a lesser extent. Therefore, this study discusses the relations between product diversification, international diversification strategies and firm performance considering the business group affiliation. Following the relevant literature, this study also presents propositions which can be examined further. The propositions suggest that emerging economy firms can perform better by implementing product diversification and international diversification; however, these two strategies may also harm firm performance. Moreover, group affiliation may have favorable or negative moderating impact in these relations when firms pursue product or international diversification. This study aims to provide foundations for future studies on diversification strategies, firm performance and business group affiliation relationships.

Keywords

• Business group affiliation
• Product diversification
• International diversification
• Firm performance

İşletme Grubuna Bağlılık, Çeşitlendirme Stratejileri ve Firma Performansı Üzerine Bir Değerlendirme

Öz

Ürün çeşitlendirme ve uluslararası çeşitlendirme gelişmekte olan ve gelişmiş ekonomilerdeki firmalar tarafından uygulanan stratejilerdendir. Bu stratejiler firma performansı üzerinde olumlu veya olumsuz etkiler yapmakta ve bu etki firmaların içinde bulundukları bağlama göre değişebilmektedir. Ürün çeşitlendirme, uluslararası çeşitlendirme ve firma performansı arasındaki ilişkileri etkileyen faktörlerden birisi işletme gruplarıdır. İşletme grupları kendilerine bağlı firmalara bu stratejileri sürdürmede kaynak ve bilgi sağlamaktadır. Yazındaki çalışmalar, farklı ekonomilerde çeşitlendirme stratejileri ve firma performansı arasındaki ilişkileri ve bu ilişkideki aracı faktörleri incelemişlerdir; ancak, işletme grubuna bağlılığın rolüne daha az değinilmiştir. Bu nedenle bu çalışma, ürün çeşitlendirme, uluslararası çeşitlendirme ve firma performansı arasındaki ilişkileri işletme grubuna bağlılığı dikkate alarak tartışmaktadır. Bu çalışma ayrıca ilgili yazın çerçevesinde araştırma gerektiren önermeler sunmaktadır. Önermeler, firmaların ürün ve uluslararası çeşitlendirmeden faydalanabileceğini; ancak, bu stratejilerin diğer yandan firma performansına zarar verebileceğini ileri sürmektedir. Ayrıca, işletme grubuna bağlılık bu ilişkilerde olumlu veya olumsuz aracı etki yapabilmektedir. Bu çalışmada, çeşitlendirme stratejileri, firma performansı ve işletme grubuna bağlılık arasındaki ilişkiler üzerine ileride yapılabilecek araştırmalar için temel oluşturulması amaçlanmaktadır.

Anahtar Kelimeler

• İşletme grubuna bağlılık
• Ürün çeşitlendirme
• Uluslararası çeşitlendirme
• Firma performansı

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