Keiretsu centrality — profits and profit stability: A power dependence perspective

Prior studies compare null keiretsu null member firm and independent firm performance. Here, we use historical and power dependence perspectives to theorize that the Japanese null keiretsu null system primarily benefits the most central firms. We test this by examining the performance of two types of null keiretsu null firms (central firms and other member firms) within two types of null keiretsu null (horizontal and vertical). We hypothesize...