The Existence and Evolution of Business Groups in Emerging Economies: A Selective Review of the Literature

Business Groups and their ubiquitous presence in emerging economies affect the broad patterns of economic performance. The study of such hybrid organizational form has been relevant to various domains such as industrial organization, corporate finance, strategic management, economics and sociology etc. This paper is an attempt to first understand the reason for their dominant presence in emerging markets and then proceeds to review the literature based on the dominant research perspectives of the existing scholarly work.