Recent development of an institution-based theory of corporate diversification has uncovered a diversification premium in emerging economies, suggesting that some business group-affiliated companies may outperform competing firms not affiliated with business groups. Is the diversification...

Given the centrality of make or buy decisions in transaction cost theory, it is important to understand the factors that influence managers' choices. The empirical evidence to date is unclear as to what conditions influence export managers' choices to "make" (the direct mode of establishing...