Business ethics during mixed modes of exchange: South Korean Chaebol's succession challenge

Dalton, B; Dela Rama, M

Business ethics during mixed modes of exchange: South Korean Chaebol's succession challenge

Dalton, B

Dela Rama, M

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Publication Type:: Journal Article
Citation:: Korea Observer, 2014, 45 (3), pp. 415 - 435
Issue Date:: 2014-01-01

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Field	Value	Language
dc.contributor.author	Dalton, B https://orcid.org/0000-0002-9507-1447	en_US
dc.contributor.author	Dela Rama, M https://orcid.org/0000-0001-7879-4750	en_US
dc.date.issued	2014-01-01	en_US
dc.identifier.citation	Korea Observer, 2014, 45 (3), pp. 415 - 435	en_US
dc.identifier.issn	0023-3919	en_US
dc.identifier.uri	http://hdl.handle.net/10453/33543
dc.description.abstract	© 2014 by THE INSTITUTE OF KOREAN STUDIES. In his study on pathways to economic development, John Lie (1992) developed the concept of modes of exchange and identified four typologies: market, manorial, mercantile and entrepreneurial. We discuss the relevance of these typologies to Korea's post-war economic development and focus specifically on how modes of market exchange may affect wider interpretations of business ethics. In the post-war period, we argue that there was no linear or clearly-staged trajectory from one mode of exchange to another and, in this context of uncertainty, elites used this as an opportunity to rationalize and justify certain practices. However, the 1997 Asian financial crisis unleashed forces that drove a significant shift towards the establishment of a more open and globalized market environment. This has created new challenges for the chaebol and its attempts to hold on to structures of the past, in particular to maintain family ownership through succession from father to son.	en_US
dc.relation.ispartof	Korea Observer	en_US
dc.title	Business ethics during mixed modes of exchange: South Korean Chaebol's succession challenge	en_US
dc.type	Journal Article
utslib.citation.volume	3	en_US
utslib.citation.volume	45	en_US
utslib.for	1503 Business and Management	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/e-Press
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	closed_access
pubs.issue	3	en_US
pubs.publication-status	Published	en_US
pubs.volume	45	en_US

Abstract:

© 2014 by THE INSTITUTE OF KOREAN STUDIES. In his study on pathways to economic development, John Lie (1992) developed the concept of modes of exchange and identified four typologies: market, manorial, mercantile and entrepreneurial. We discuss the relevance of these typologies to Korea's post-war economic development and focus specifically on how modes of market exchange may affect wider interpretations of business ethics. In the post-war period, we argue that there was no linear or clearly-staged trajectory from one mode of exchange to another and, in this context of uncertainty, elites used this as an opportunity to rationalize and justify certain practices. However, the 1997 Asian financial crisis unleashed forces that drove a significant shift towards the establishment of a more open and globalized market environment. This has created new challenges for the chaebol and its attempts to hold on to structures of the past, in particular to maintain family ownership through succession from father to son.

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http://hdl.handle.net/10453/33543