Integrating the impact of resources and institutional factors, this study compares and contrasts the dynamic relationships between product diversification, business group affiliation and firm performance in two major economies in Asia. India and Japan have been chosen as they represent different...

We explore how firms grow by adding products. In contrast to most earlier work on the topic, our conceptual and empirical framework allows for separate treatment of product innovation (vertical differentiation) and diversification (horizontal differentiation). The market context is Japan's...