Equity alliances informal ways of connection: An empirical study based on MaxMaraFashion Group

This paper investigates the notion of business group as a distinctive governance structure and a strategic tool used by firms engaged in interfirm alliances and that requires distinctive relational capabilities. The paper relies on the in-depth analysis of a case-study of a well established business group in the textile and clothing sector - the MaxMaraFashion Group. From the findings it emerges that business groups can be seen as more flexible forms of governance when compared with directly financial control.