We extend the business group (BG) literature by combining the knowledge-based perspective and the dynamic capabilities view to explain the benefits of group affiliation. In the BG context, group affiliates can use not only their own firm-level knowledge-based assets (KBAs), but also group-level KBAs. While prior research examines the efficiencies of BG affiliation by comparing BG affiliates to non-affiliated firms, we ask to what extent affiliate-specific rents from group-level KBAs vary among affiliate firms and why. To explain this variation, we identify affiliate-specific rents generated by the complementarity between firm- and group-level KBAs. Drawing from the dynamic capabilities view, we developed a framework to explain the sources of such complementarity and tested a series of hypotheses. This study provides empirical evidence using firm-level data on 524 affiliates of keiretsu groups in Japan from 1985 to 2015. To measure KBAs and their characteristics, we use data on 11.5 million patents matched to the sample firms. This study provides a knowledge-based perspective to explain BG affiliation benefits and the persistence of BGs as an organizational form of economic activity.

中文翻译：

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业务组中基于知识的资产：互补性和租金的动态能力视图


我们通过结合基于知识的视角和动态能力视图来扩展业务组 （BG） 文献，以解释组隶属关系的好处。在 BG 环境中，集团附属公司不仅可以使用自己的公司级基于知识的资产 （KBA），还可以使用集团级 KBA。虽然先前的研究通过将 BG 附属公司与非附属公司进行比较来检验 BG 附属公司的效率，但我们询问了来自集团级 KBA 的附属公司特定租金在多大程度上因附属公司而异以及原因。为了解释这种差异，我们确定了公司和集团层面的 KBA 之间的互补性产生的关联公司特定租金。从动态能力视图出发，我们开发了一个框架来解释这种互补性的来源，并测试了一系列假设。本研究使用 1985 年至 2015 年日本 keiretsu 集团的 524 家附属公司的公司层面数据提供了实证证据。为了衡量 KBA 及其特征，我们使用了与样本公司匹配的 1150 万项专利的数据。本研究提供了一个基于知识的视角来解释 BG 隶属关系的好处以及 BG 作为经济活动的一种组织形式的持久性。