Shock-imprinting: External shocks and ethnic Chinese business groups in Indonesia
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Abstract
This paper examines the effect of external shocks on corporate strategy of ethnic Chinese business groups in the context of Indonesia. It reports on an in-depth, longitudinal, and comparative case study of four prominent Indonesian Chinese groups, all of which implemented major strategic changes in response to the Asian financial crisis. As theories emphasizing strategic continuity and strategic adaptation are only partially able to explain the results, an alternative explanation is offered. Results are generalized towards a novel notion of "shock-imprinting" which implies that companies continue to employ defensive strategies after an external shock has subsided. © 2009 Springer Science+Business Media, LLC.
Keywords
Business groups, Ethnic Chinese, Indonesia, Punctuated equilibrium
Source Title
Asia Pacific Journal of Management
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Series/Report No.
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Date
2010
DOI
10.1007/s10490-009-9154-3
Type
Article