Indian business groups: Evolution and transformation

Business groups are an important constituent of many emerging economies. In this paper, we focus on the evolution and transformation of Indian business groups (IBGs) over two economic eras — pre-reform era (pre 1991) and reform era (post 1991). To this end, we analyze IBG behavior during these periods, and explain the implications of such behavior on IBG value creation. Our conceptualization of IBG dynamics utilizes the perspectives of product relatedness and institutional relatedness, and undertakes a broad review of the extant literature.

Somnath LahiriEmail:

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Ben L. Kedia   holds the Wang Chair of Excellence in International Business and is Director of the Wang Center for International Business Education and Research (CIBER) at The University of Memphis, USA. His research interests include cross-cultural and comparative management, and international business strategy. Dr. Kedia has served as Chair of the International Management Division of the Academy of Management and President of the Academy of International Business–U.S. Southwest. His research has been published in Academy of Management Review, Journal of World Business, Management International Review, etc. He received his PhD from Case Western Reserve University. Debmalya Mukherjee   is a doctoral candidate in strategic management at The University of Memphis, USA. His research interests include international business strategy, emerging economies and virtual organizations. Debmalya has presented research papers at various national and international conferences. He received his MBA from Ohio University. He has served in a team consulting project in Italy. Prior to coming to the United States, Debmalya worked as a lawyer at the Calcutta High Court, India. Somnath Lahiri   is a doctoral candidate in management at The University of Memphis, USA. His research interests include international outsourcing, emerging economies, and global business strategy. Somnath’s writings have appeared in European Business Forum and he has presented research papers at various conferences in the United States and abroad. He has also co-authored a book chapter on BRIC economies. Prior to coming to the United States, he served as a professional engineer for several years in India, both in the private- and government sector, where he specialized in contract handling and project monitoring.