Book contents
- Frontmatter
- Contents
- List of Illustrations
- List of Figures
- List of Tables
- Series Editors' Preface
- Preface
- List of Abbreviations
- 1 Brands and the Evolution of Multinationals
- 2 Leading Firms – The Historical Legacy
- 3 Growth and Survival
- 4 Family Ownership and Managerial Control
- 5 Channel Management
- 6 Diversification Strategies
- 7 Acquiring Brands
- 8 The Life of Brands
- 9 Conclusion
- Appendix 1 Value-Added Chain in Alcoholic Beverages
- Appendix 2 Brands Owned by the Leading Multinationals in 2005
- Appendix 3 Annual Sales for Each Firm in Alcoholic Beverages
- Appendix 4 Selection of the Sample
- Appendix 5 Biographies of the World's Largest Multinationals in Alcoholic Beverages
- Appendix 6 Types of Governance Structures in Distribution, 1900–2005
- Appendix 7 Schematic Representation: Alliances as Dynamic Processes for Acquiring Marketing Knowledge
- Appendix 8 Diversification Strategies
- Appendix 9 Patterns of Diversification within Alcoholic Beverages
- Appendix 10 Schematic Representation: Brands and Marketing Knowledge in Mergers and Acquisitions
- Appendix 11 Evolution of Sales of the World's Leading Brands by Beverage Type
- Bibliography
- Index
- Plate section
4 - Family Ownership and Managerial Control
Published online by Cambridge University Press: 10 December 2009
- Frontmatter
- Contents
- List of Illustrations
- List of Figures
- List of Tables
- Series Editors' Preface
- Preface
- List of Abbreviations
- 1 Brands and the Evolution of Multinationals
- 2 Leading Firms – The Historical Legacy
- 3 Growth and Survival
- 4 Family Ownership and Managerial Control
- 5 Channel Management
- 6 Diversification Strategies
- 7 Acquiring Brands
- 8 The Life of Brands
- 9 Conclusion
- Appendix 1 Value-Added Chain in Alcoholic Beverages
- Appendix 2 Brands Owned by the Leading Multinationals in 2005
- Appendix 3 Annual Sales for Each Firm in Alcoholic Beverages
- Appendix 4 Selection of the Sample
- Appendix 5 Biographies of the World's Largest Multinationals in Alcoholic Beverages
- Appendix 6 Types of Governance Structures in Distribution, 1900–2005
- Appendix 7 Schematic Representation: Alliances as Dynamic Processes for Acquiring Marketing Knowledge
- Appendix 8 Diversification Strategies
- Appendix 9 Patterns of Diversification within Alcoholic Beverages
- Appendix 10 Schematic Representation: Brands and Marketing Knowledge in Mergers and Acquisitions
- Appendix 11 Evolution of Sales of the World's Leading Brands by Beverage Type
- Bibliography
- Index
- Plate section
Summary
Introduction
When we look at corporate governance of firms a number of questions come to mind. Does the country of origin matter? Has the level of concentration of ownership influenced the growth and survival of firms? Who manages these firms? How has their ownership and control evolved over time? This chapter analyzes these questions, focusing on the evolution of the predominant governance structures of the leading multinationals in alcoholic beverages.
Country of origin
As we noted before, the leading firms in the world originate both from “outsider” and “insider” systems of corporate governance. Table 4.1 uses this classification to aggregate those firms with published accounts into these two groups. The United States, United Kingdom, Canada, Australia, and South Africa are grouped as “outsider” systems. Continental Europe, Japan, and South America are grouped as “insider” systems of corporate governance. This Table provides, for each firm, the average sales in each decade: 1961–1970, 1971–1980, 1981–1990, 1991–2000, and 2001–2005.
In the 1960s, the number and size (measured by sales volume) of firms originally from the outsider systems was much higher than that of firms from insider systems. This is what one might expect from a neoclassical perspective. Open systems should make for more competitive firms. In contrast, by 2004 the number of firms from outsider systems was similar to that of firms from insider systems.
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- Information
- Global BrandsThe Evolution of Multinationals in Alcoholic Beverages, pp. 67 - 86Publisher: Cambridge University PressPrint publication year: 2007