business groups
Business Groups and Tunneling: Evidence from Private Securities Offerings by Korean Chaebols
... We find that in regressions (1) and (4), the gain to the controlling shareholder from a $1 PSO overpayment is significantly negatively related to the discount, whereas the loss to the controlling shareholder from a $1 ...
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Capital Structure and Business Groups: Evidence from Pakistan
... that business groups are able to consume more debt financing as compared to independent firms during crisis pe- ...that business groups are better able to emerge (Khanna, 2000) themselves and ...
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The growth of business groups by habitual entrepreneurs: the role of entrepreneurial teams
... of business groups in family-owned ...pyramidal business groups, no formal theory explains their ...that business groups are used by entrepreneurs to manipulate the ownership ...
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Business groups and corporate social responsibility: Evidence from China
... literature that has developed rapidly worldwide during the past two to three decades (e.g., Matten & Moon, 2008; Moser & Martin, 2012; Di Giuli & Kostovetsky, 2014; Shabana, Buchholtz, & Carroll, 2017) ...
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The Structure and Formation of Business Groups: Evidence from Korean Chaebols
... Finally, the literature provides some evidence on the correlation between ownership vari- ables and firm characteristics. In particular, there is evidence that firms that are owned through pyramids are smaller and ...
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Business groups, financing constraints, and investment: the case of India
... Business groups form an important part of the Indian private sector; in 1993, group affiliated firms accounted for more than 80% of the private sector’s assets, profits and sales (Khanna, ...Indian ...
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Adjustment Costs and Investment Efficiency of Business Groups in Korea
... of business groups in Korea. Business groups can centralize knowledge and group resources, which reduces the cost of entering a new ...of business group firms are lower than those of ...
7
Business Groups, Innovation and Institutional Voids in Latin America
... and business groups’ extent and ...America, groups emerged and originally prospered through active public support and ...upgrading, groups did not disappear or worsened their performance, but ...
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Do Business Groups Change with Market Development?
... that business groups survive by being parasites of the political system, ...that groups were neither able to hinder institutional development, nor they enjoyed preferential regulation that could ...
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Performance of business groups: Evidence from post-crisis Russia
... problems. Business groups in such markets have the potential to offer benefits to member firms, but they also may destroy ...Russian business groups, we analyze the relationship between group ...
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Business Groups in Thailand: Before and after the East Asian Financial Crisis
... 30 business groups in Thailand in three following aspects: the formation of the groups, the characteristics before the financial crisis, and the effects of the crisis and their ...responses. ...
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The Effect Of Internal Capital Market Of Korean Large Business Groups On Investment Efficiency
... large business groups is the existence of an internal capital ...large groups of companies feature compared to independent ...to business groups (Shin & Park, ...for business ...
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Studying developing country business groups: some issues with reference to the Indian case
... The business group has been described as a proto-concept (Smangs 2006) and the absence of a commonly agreed upon definition of the institution has been recognized (Cuervo-Cazurra ...market business group ...
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Business groups, governance, institutional frameworks and cultures: Indian mergers and acquisitions.
... of business groups is the formation of an ‘internal capital market’ wherein cashflows may be diverted from one affiliate to another for numerous motives such as (i) further investments in profitable ...
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Interlocking directorates and financial performance : an empirical analysis of Pakistani business groups
... Maman (1999) stated that vertical interlock is more useful in diversified business groups than focused groups in order to avoid control and coordination problems. There are different hierarchy levels ...
8
Family Business Groups and Tunneling Framework : Application and Evidence from Pakistan
... family business groups impinge on the rights of the minority stake holders via tunneling, they also make up for several institutional voids prevalent in third world countries like ...family business ...
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Business Groups in Emerging Markets – Financial Control and Sequential Investment
... a business group can already invest in the first period when unaffiliated firms or integrated firms are credit rationed because of deficient ...of business groups in ...
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The structure and formation of business groups: Evidence from Korean Chaebols
... it is due to noise traders bidding up the prices of the subsidiary stocks, and arbitrage costs that make a price correction difficult to sustain (a large fraction of the firms analyzed in these studies are in the internet ...
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A Theory of Pyramidal Ownership and Family Business Groups
... We also show that observed ultimate ownership is lower and equilibrium diversion is higher in …rms that are controlled through pyramids. This result is driven by a selection e¤ect. Firms with low security bene…ts ...
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