The structure and formation of business groups: Evidence from Korean chaebols
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Owen A. Lamont & Richard H. Thaler, 2003.
"Can the Market Add and Subtract? Mispricing in Tech Stock Carve-outs,"
Journal of Political Economy, University of Chicago Press, vol. 111(2), pages 227-268, April.
- Owen A. Lamont & Richard H. Thaler, "undated". "Can the Market Add and Subtract? Mispricing in Tech Stock Carve-outs," CRSP working papers 528, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- Owen A. Lamont & Richard H. Thaler, 2001. "Can the Market Add and Subtract? Mispricing in Tech Stock Carve-Outs," NBER Working Papers 8302, National Bureau of Economic Research, Inc.
- Stijn Claessens & Simeon Djankov & Joseph P. H. Fan & Larry H. P. Lang, 2002. "Disentangling the Incentive and Entrenchment Effects of Large Shareholdings," Journal of Finance, American Finance Association, vol. 57(6), pages 2741-2771, December.
- Barca, Fabrizio & Becht, Marco (ed.), 2001. "The Control of Corporate Europe," OUP Catalogue, Oxford University Press, number 9780199247424.
- Claessens, Stijn & Fan, Joseph P.H. & Lang, Larry H.P., 2006.
"The benefits and costs of group affiliation: Evidence from East Asia,"
Emerging Markets Review, Elsevier, vol. 7(1), pages 1-26, March.
- Claessens, Stijn & Fan, Joseph P.H. & Lang, Larry, 2002. "The Benefits and Costs of Group Affiliation: Evidence from East Asia," CEPR Discussion Papers 3364, C.E.P.R. Discussion Papers.
- Stijn Claessens & Joseph P. H. Fan & Larry H. P. Lang, 2002. "The Benefits and Costs of Group Affiliation: Evidence from East Asia," WIDER Working Paper Series DP2002-47, World Institute for Development Economic Research (UNU-WIDER).
- Franks, Julian & Mayer, Colin, 2001.
"Ownership and Control of German Corporations,"
Review of Financial Studies, Society for Financial Studies, vol. 14(4), pages 943-977.
- Franks, Julian R & Mayer, Colin, 2001. "Ownership and Control of German Corporations," CEPR Discussion Papers 2898, C.E.P.R. Discussion Papers.
- Julian Franks & Colin Mayer, 2001. "Ownership and Control of German Corporations," OFRC Working Papers Series 2001fe11, Oxford Financial Research Centre.
- Brioschi, Francesco & Buzzacchi, Luigi & Colombo, Massimo G., 1989. "Risk capital financing and the separation of ownership and control in business groups," Journal of Banking & Finance, Elsevier, vol. 13(4-5), pages 747-772, September.
- Marianne Bertrand & Paras Mehta & Sendhil Mullainathan, 2002.
"Ferreting out Tunneling: An Application to Indian Business Groups,"
The Quarterly Journal of Economics, Oxford University Press, vol. 117(1), pages 121-148.
- Marianne Bertrand & Paras Mehta & Sendhil Mullainathan, 2000. "Ferreting Out Tunneling: An Application to Indian Business Groups," NBER Working Papers 7952, National Bureau of Economic Research, Inc.
- Murray Z. Frank & Vidhan K. Goyal, 2009.
"Capital Structure Decisions: Which Factors Are Reliably Important?,"
Financial Management, Financial Management Association International, vol. 38(1), pages 1-37, March.
- Frank, Murray Z. & Goyal, Vidhan K., 2009. "Capital Structure Decisions: Which Factors are Reliably Important?," MPRA Paper 22525, University Library of Munich, Germany.
- Alexander Aganin & Paolo Volpin, 2005. "The History of Corporate Ownership in Italy," NBER Chapters, in: A History of Corporate Governance around the World: Family Business Groups to Professional Managers, pages 325-366, National Bureau of Economic Research, Inc.
- Jae‐Seung Baek & Jun‐Koo Kang & Inmoo Lee, 2006. "Business Groups and Tunneling: Evidence from Private Securities Offerings by Korean Chaebols," Journal of Finance, American Finance Association, vol. 61(5), pages 2415-2449, October.
- Volpin, Paolo F., 2002.
"Governance with poor investor protection: evidence from top executive turnover in Italy,"
Journal of Financial Economics, Elsevier, vol. 64(1), pages 61-90, April.
- Volpin, Paolo, 2002. "Governance with Poor Investor Protection: Evidence from Top Executive Turnover in Italy," CEPR Discussion Papers 3229, C.E.P.R. Discussion Papers.
- Heitor Almeida & Murillo Campello, 2007. "Financial Constraints, Asset Tangibility, and Corporate Investment," Review of Financial Studies, Society for Financial Studies, vol. 20(5), pages 1429-1460, 2007 12.
- repec:hrv:faseco:30747162 is not listed on IDEAS
- Randall Morck & David Stangeland & Bernard Yeung, 2000.
"Inherited Wealth, Corporate Control, and Economic Growth The Canadian Disease?,"
NBER Chapters, in: Concentrated Corporate Ownership, pages 319-372,
National Bureau of Economic Research, Inc.
- Randall K. Morck & David A. Stangeland & Bernard Yeung, 1998. "Inherited Wealth, Corporate Control and Economic Growth: The Canadian Disease," NBER Working Papers 6814, National Bureau of Economic Research, Inc.
- Khanna, Tarun, 2000. "Business groups and social welfare in emerging markets: Existing evidence and unanswered questions," European Economic Review, Elsevier, vol. 44(4-6), pages 748-761, May.
- Mark Mitchell & Todd Pulvino & Erik Stafford, 2002. "Limited Arbitrage in Equity Markets," Journal of Finance, American Finance Association, vol. 57(2), pages 551-584, April.
- Faccio, Mara & Lang, Larry H. P., 2002. "The ultimate ownership of Western European corporations," Journal of Financial Economics, Elsevier, vol. 65(3), pages 365-395, September.
- Heitor V. Almeida & Daniel Wolfenzon, 2006. "A Theory of Pyramidal Ownership and Family Business Groups," Journal of Finance, American Finance Association, vol. 61(6), pages 2637-2680, December.
- Tarun Khanna & Krishna Palepu, 2000. "Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups," Journal of Finance, American Finance Association, vol. 55(2), pages 867-891, April.
- Boyan Jovanovic & Peter L. Rousseau, 2002.
"The Q-Theory of Mergers,"
American Economic Review, American Economic Association, vol. 92(2), pages 198-204, May.
- Boyan Jovanovic & Peter L. Rousseau, 2002. "The Q-Theory of Mergers," NBER Working Papers 8740, National Bureau of Economic Research, Inc.
- Bianco, Magda & Nicodano, Giovanna, 2006. "Pyramidal groups and debt," European Economic Review, Elsevier, vol. 50(4), pages 937-961, May.
- French, Kenneth R. & Poterba, James M., 1991.
"Were Japanese stock prices too high?,"
Journal of Financial Economics, Elsevier, vol. 29(2), pages 337-363, October.
- Kenneth R. French & James M. Poterba, 1990. "Were Japanese Stock Prices Too High?," NBER Working Papers 3290, National Bureau of Economic Research, Inc.
- French, K.R. & Poterba, J.M., 1990. "Are Japanese Stock Prices Too High?," Working papers 547, Massachusetts Institute of Technology (MIT), Department of Economics.
- Bertrand, Marianne & Johnson, Simon & Samphantharak, Krislert & Schoar, Antoinette, 2008.
"Mixing family with business: A study of Thai business groups and the families behind them,"
Journal of Financial Economics, Elsevier, vol. 88(3), pages 466-498, June.
- Marianne Bertrand & Simon Johnson & Krislert Samphantharak & Antoinette Schoar, 2008. "Mixing Family With Business: A Study of Thai Business Groups and the Families Behind Them," NBER Working Papers 13738, National Bureau of Economic Research, Inc.
- Bohren, Oyvind & Michalsen, Dag, 1994. "Corporate cross-ownership and market aggregates: Oslo stock exchange 1980-1990," Journal of Banking & Finance, Elsevier, vol. 18(4), pages 687-704, September.
- Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer, 1999.
"Corporate Ownership Around the World,"
Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 1998. "Corporate Ownership Around the World," Harvard Institute of Economic Research Working Papers 1840, Harvard - Institute of Economic Research.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 1998. "Corporate Ownership Around the World," NBER Working Papers 6625, National Bureau of Economic Research, Inc.
- Lins, Karl V., 2003. "Equity Ownership and Firm Value in Emerging Markets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(1), pages 159-184, March.
- Claessens, Stijn & Djankov, Simeon & Lang, Larry H. P., 2000. "The separation of ownership and control in East Asian Corporations," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 81-112.
- Lucian A. Bebchuk & Reinier Kraakman & George Triantis, 2000. "Stock Pyramids, Cross-Ownership, and Dual Class Equity: The Mechanisms and Agency Costs of Separating Control from Cash-Flow Rights," NBER Chapters, in: Concentrated Corporate Ownership, pages 295-318, National Bureau of Economic Research, Inc.
- Kee-Hong Bae & Jun-Koo Kang & Jin-Mo Kim, 2002. "Tunneling or Value Added? Evidence from Mergers by Korean Business Groups," Journal of Finance, American Finance Association, vol. 57(6), pages 2695-2740, December.
- Shleifer, Andrei, 2000. "Inefficient Markets: An Introduction to Behavioral Finance," OUP Catalogue, Oxford University Press, number 9780198292272.
- Marco Becht & Fabrizio Barca, 2001. "The control of corporate Europe," ULB Institutional Repository 2013/13302, ULB -- Universite Libre de Bruxelles.
- Cheung, Yan-Leung & Rau, P. Raghavendra & Stouraitis, Aris, 2006.
"Tunneling, propping, and expropriation: evidence from connected party transactions in Hong Kong,"
Journal of Financial Economics, Elsevier, vol. 82(2), pages 343-386, November.
- Yan-leung Cheung & P. Raghavendra Rau & Aris Stouraitis, 2004. "Tunneling, Propping and Expropriation Evidence from Connected arty Transactions in Hong Kong," Working Papers 092004, Hong Kong Institute for Monetary Research.
- Baek, Jae-Seung & Kang, Jun-Koo & Suh Park, Kyung, 2004. "Corporate governance and firm value: evidence from the Korean financial crisis," Journal of Financial Economics, Elsevier, vol. 71(2), pages 265-313, February.
- Marisetty, Vijaya B. & Subrahmanyam, Marti G., 2010. "Group affiliation and the performance of IPOs in the Indian stock market," Journal of Financial Markets, Elsevier, vol. 13(1), pages 196-223, February.
- Cornell, Bradford & Liu, Qaio, 2001. "The parent company puzzle: when is the whole worth less than one of the parts?," Journal of Corporate Finance, Elsevier, vol. 7(4), pages 341-366, December.
More about this item
Keywords
Business groups Family firms Pyramids Cross-shareholdings Tunneling Mergers and acquisitions;Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jfinec:v:99:y:2011:i:2:p:447-475. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Haili He). General contact details of provider: http://www.elsevier.com/locate/inca/505576 .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.