英文摘要 |
Small-world networks have received much theoretical attention from sociologists, business-management researchers, and others. In the present study, I examine both financial and internationalization performance under a small-world network structure of business groups. Using the perspective of network analysis, I set out to clarify the effects of small-world network structures on the financial performance of groups and their core firms. I also test the internationalization performance of groups and its mediating role between small-world networks and group financial performance. This study extends business-group research by examining the effects that group and cross-level nested dimensions can have on financial and internationalization performance. With longitudinal business-group data in Taiwan from the BGT directory spanning the years between 2009 and 2013, I present evidence that small-world networks have shaped dynamic financial outcomes. The result indicates that the relationship between small-world networks and the financial performance of groups is U-shaped. The evidence additionally indicates that an inverted U-shaped relationship characterizes the interactions between the small-world networks and the nested core firms of groups. However, small-world network structures do not affect the internationalization performance of groups. |