
Contents
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14.1 Introduction 14.1 Introduction
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14.2 Reinterpreting the Chandlerian Paradigm of the Growth of Large Industrial Enterprises 14.2 Reinterpreting the Chandlerian Paradigm of the Growth of Large Industrial Enterprises
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14.3 The Multiplicity of Corporate Models in US Industrial Development 14.3 The Multiplicity of Corporate Models in US Industrial Development
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14.3.1 Network-Type Business Groups 14.3.1 Network-Type Business Groups
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14.3.2 Hierarchy-Type Business Groups 14.3.2 Hierarchy-Type Business Groups
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14.4 Diversified Business Groups as the Prime Alternative Model of Chandlerian Large Enterprises 14.4 Diversified Business Groups as the Prime Alternative Model of Chandlerian Large Enterprises
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14.4.1 Boston Associates as a Prototype of Diversified Business Groups 14.4.1 Boston Associates as a Prototype of Diversified Business Groups
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14.4.2 International Business Groups and the Overseas Expansion of US Economic Interests 14.4.2 International Business Groups and the Overseas Expansion of US Economic Interests
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14.4.2.1 W. R. Grace & Company 14.4.2.1 W. R. Grace & Company
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14.4.3 Bank-centered Business Groups and the Alleged Way to Financial Rule 14.4.3 Bank-centered Business Groups and the Alleged Way to Financial Rule
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14.4.3.1 J. P. Morgan & Company 14.4.3.1 J. P. Morgan & Company
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14.5 Concluding Remarks 14.5 Concluding Remarks
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Acknowledgments Acknowledgments
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14 The United States in Historical Perspectives: The Strange Career of Business Groups in Industrial Development
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Published:February 2018
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Abstract
This chapter aims to re-examine the Chandlerian paradigm of the historical development of modern industrial enterprises in the United States by employing an analytical framework that comprehends the alternative models of corporate evolution, especially that of diversified business groups. Based on the systematic examination of the broad range of business groups that have historically developed in the United States, the chapter focuses on the two varieties of diversified business groups that historically played critical roles in that economy: those centered around overseas trading and operational firms; and those organized around banking institutions. It argues that diversified business groups played the characteristic roles of generating and reorganizing modern industrial enterprises to shape the contemporary economic landscape of oligopoly. Such roles played by the diversified business groups and their contributions to corporate and industrial development should be complemental to the Chandlerian multidivisional enterprises to configure the whole dynamics of the US economy in the long run.
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