Conclusion: The Future of Business Groups in East Asia
This chapter summarizes major findings from each individual chapter and draws conclusions about the future of business groups in East Asia. First, despite the hardship accompanied with the crisis, business groups in East Asia remained quite intact, showing amazing robustness against external shocks from financial crises. Second, business groups in each country took a very divergent development path in response to the common shock of the Asian Crisis. Third, several countries undertook some changes in their institutional environments following the crisis such as enhancing corporate governance systems and tightening capital market supervision, which would have a much longer-term influence on the business groups in this region. This chapter argues that business groups in East Asia should reconfigure their business structures and adjust their corporate governance systems to regain momentum for further growth.
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