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Business Groups and Risk Sharing around the World

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What this work says

Outgoing claims: the papers this work cites, builds on, or argues with.

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Estimating the performance effects of business groups in emerging markets
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Corporate Ownership, Profitability, and Bank-Firm Ties: Evidence from the American Occupation Reforms in Japan
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Evolution of the Main Bank System in Japan
inferredcites →https://doi.org/10.1016/0167-2681(89)90037-1openalex-snapshot
The main bank system and corporate monitoring and control in Japan
inferredcites →https://doi.org/10.1016/0304-405x(84)90023-0openalex-snapshot
Corporate financing and investment decisions when firms have information that investors do not have
inferredcites →https://doi.org/10.1016/0304-405x(90)90021-qopenalex-snapshot
The role of banks in reducing the costs of financial distress in Japan
inferredcites →https://doi.org/10.1016/0304-4076(86)90021-7openalex-snapshot
Random group effects and the precision of regression estimates
inferredcites →https://doi.org/10.1016/0889-1583(87)90014-1openalex-snapshot
The design of contracts: Evidence from Japanese subcontracting
inferredcites →https://doi.org/10.1016/0889-1583(89)90029-4openalex-snapshot
Manufacturer-supplier relationships in Japan and the concept of relation-specific skill
inferredcites →https://doi.org/10.1016/j.jce.2003.08.004openalex-snapshot
Propping and Tunneling
inferredcites →https://doi.org/10.1016/s0014-2921(99)00059-8openalex-snapshot
Business groups and social welfare in emerging markets: Existing evidence and unanswered questions
inferredcites →https://doi.org/10.1016/s0165-4101(00)00012-4openalex-snapshot
The effect of international institutional factors on properties of accounting earnings
inferredcites →https://doi.org/10.1016/s0304-405x(00)00069-6openalex-snapshot
Corporate governance in the Asian financial crisis
inferredcites →https://doi.org/10.1016/s0304-405x(03)00191-0openalex-snapshot
Bailout and conglomeration
inferredcites →https://doi.org/10.1016/s0922-1425(02)00056-7openalex-snapshot
The risk-sharing role of Japanese keiretsu business groups: evidence from restructuring in the 1990s
inferredcites →https://doi.org/10.1017/cbo9780511571701openalex-snapshot
Information, Incentives and Bargaining in the Japanese Economy
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Bootstrap Methods and their Application
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Practical Nonparametric Statistics (2nd ed.)
inferredcites →https://doi.org/10.1086/250042openalex-snapshot
Law and Finance
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Tobin's q, Corporate Diversification, and Firm Performance
inferredcites →https://doi.org/10.1086/423153openalex-snapshot
From the Invisible Handshake to the Invisible Hand? How Import Competition Changes the Employment Relationship
inferredcites →https://doi.org/10.1093/biomet/50.3-4.403openalex-snapshot
A Multivariate Analogue of the One-Sided Test
inferredcites →https://doi.org/10.1111/0022-1082.00229openalex-snapshot
Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups
inferredcites →https://doi.org/10.1111/0022-1082.254893openalex-snapshot
On the Costs of a Bank‐Centered Financial System: Evidence from the Changing Main Bank Relations in Japan
inferredcites →https://doi.org/10.1111/1467-6451.00060openalex-snapshot
The Nature of Diversified Business Groups: A Research Design and Two Case Studies
inferredcites →https://doi.org/10.1111/1540-6261.00440openalex-snapshot
Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence
inferredcites →https://doi.org/10.1111/1540-6261.00476openalex-snapshot
Explaining the Diversification Discount
inferredcites →https://doi.org/10.1111/j.1540-6261.1984.tb03893.xopenalex-snapshot
A Further Empirical Investigation of the Bankruptcy Cost Question
inferredcites →https://doi.org/10.1111/j.1540-6261.1997.tb02723.xopenalex-snapshot
Do Changes in Dividends Signal the Future or the Past?
inferredcites →https://doi.org/10.1162/003355302753399463openalex-snapshot
Ferreting out Tunneling: An Application to Indian Business Groups
inferredcites →https://doi.org/10.1162/003355398555676openalex-snapshot
Are Internal capital Markets Efficient?
inferredcites →https://doi.org/10.1162/105864099567668openalex-snapshot
Policy Shocks, Market Intermediaries, and Corporate Strategy: The Evolution of Business Groups in Chile and India
inferredcites →https://doi.org/10.1214/aoms/1177699602openalex-snapshot
On the Problem of Testing Location in Multivariate Populations for Restricted Alternatives
inferredcites →https://doi.org/10.1257/aer.90.2.22openalex-snapshot
Tunneling
inferredcites →https://doi.org/10.1257/aer.91.4.1095openalex-snapshot
Estimating the Value of Political Connections
inferredcites →https://doi.org/10.2139/ssrn.204619openalex-snapshot
Corporate Diversification and Agency
inferredcites →https://doi.org/10.2139/ssrn.238991openalex-snapshot
Ties that Bind Business Groups: Evidence from an Emerging Market
inferredcites →https://doi.org/10.2139/ssrn.307426openalex-snapshot
The Benefits and Costs of Group Affiliation: Evidence from East Asia
inferredcites →https://doi.org/10.2307/1912529openalex-snapshot
Likelihood Ratio Test, Wald Test, and Kuhn-Tucker Test in Linear Models with Inequality Constraints on the Regression Parameters
inferredcites →https://doi.org/10.2307/2096407openalex-snapshot
Keiretsu Networks and Corporate Performance in Japan
inferredcites →https://doi.org/10.2307/2109724openalex-snapshot
An Illustration of a Pitfall in Estimating the Effects of Aggregate Variables on Micro Units
inferredcites →https://doi.org/10.2307/2118496openalex-snapshot
Financial Market Imperfections and Business Cycles
inferredcites →https://doi.org/10.2307/2329518openalex-snapshot
Legal Determinants of External Finance
inferredcites →https://doi.org/10.2307/2329557openalex-snapshot
Cash Flow and Investment: Evidence from Internal Capital Markets
inferredcites →https://doi.org/10.2307/2669919openalex-snapshot
Causal Effects in Nonexperimental Studies: Reevaluating the Evaluation of Training Programs
inferredcites →https://doi.org/10.2307/2946708openalex-snapshot
Channels of Interstate Risk Sharing: United States 1963-1990
inferredcites →https://doi.org/10.2307/2950549openalex-snapshot
Japan's Corporate Groups: Collusive or Competitive? An Empirical Investigation of Keiretsu Behavior
inferredcites →https://doi.org/10.3386/w9643openalex-snapshot
Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan
inferredcites →https://doi.org/10.3998/mpub.12137openalex-snapshot
Embedded Politics
inferredcites →https://doi.org/10.7208/chicago/9780226060231.003.0010openalex-snapshot
An International Perspective of Corporate Groups and Their Prospects
inferredcites →https://doi.org/10.7551/mitpress/3001.003.0015openalex-snapshot
Corporate Groups, Financial Liberalization, and Growth: The Case of Indonesia

What points at this work

Incoming claims: where this work appears in other papers’ reference lists and arguments.

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Silent Large Shareholders and Entrenched Bank Management: Evidence from the Banking Crisis in Japan
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The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared
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Rethinking the government as innovator: Evidence from Asian firms
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Ownership identity, strategy and performance: Business group affiliates versus independent firms in India
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The home country of the MNE: The case of emerging economy firms
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Business group affiliation as institutional linkages in China’s emerging economy: A focus on organizational traits and institutional conditions
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Business Group Affiliation and Corporate Sustainability Strategies of Firms: An Investigation of Firms in India
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Corporate Social Responsibility, Related Party Transaction and Earnings Management: Evidence from India
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The determinants of rent extraction in the parent-subsidiary relation
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Bankruptcy in groups
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The impact of tax shields on bankruptcy risk and resource allocation
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The Revival of Business Groups’ Risk Sharing: Evidence from Japanese Real Estate Investment Trust Market
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Auditor selection within a business group: evidence from Taiwan
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Group affiliation and earnings management of Asian IPO issuers
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Parent-subsidiary investment layers and the value of corporate cash holdings
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Small firms and bank financing in bad times
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The Virus and the Citadel: exploring the performance impact of business group affiliation for small businesses throughout the COVID-19 pandemic
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Business groups in China
inferred← citeshttps://doi.org/10.1016/j.jcorpfin.2013.09.003openalex-snapshot
Business group affiliation, ownership structure, and the cost of debt
inferred← citeshttps://doi.org/10.1016/j.jcorpfin.2017.03.006openalex-snapshot
Bureaucrats as managers and their roles in corporate diversification
inferred← citeshttps://doi.org/10.1016/j.jcorpfin.2019.04.007openalex-snapshot
A new order of financing investments: Evidence from acquisitions by India’s listed firms
inferred← citeshttps://doi.org/10.1016/j.jcorpfin.2021.101946openalex-snapshot
Does the market understand the ex ante risk of expropriation by controlling shareholders?
inferred← citeshttps://doi.org/10.1016/j.jcorpfin.2022.102190openalex-snapshot
Do founding families downgrade corporate governance? The roles of intra-family enforcement
inferred← citeshttps://doi.org/10.1016/j.jcorpfin.2025.102894openalex-snapshot
Institutional voids and business group dynamics: Evidence from judicial reform in China
inferred← citeshttps://doi.org/10.1016/j.jdeveco.2010.12.005openalex-snapshot
Stunting and selection effects of famine: A case study of the Great Chinese Famine
inferred← citeshttps://doi.org/10.1016/j.jebo.2012.02.016openalex-snapshot
Business groups and the natural state
inferred← citeshttps://doi.org/10.1016/j.jebo.2019.12.016openalex-snapshot
International diversification and corporate cash holding behavior: What happens during economic downturns?
inferred← citeshttps://doi.org/10.1016/j.jeconbus.2007.04.005openalex-snapshot
Ownership structure and minority rights: A Latin American view
inferred← citeshttps://doi.org/10.1016/j.jfi.2012.01.003openalex-snapshot
Financing firms in India
inferred← citeshttps://doi.org/10.1016/j.jfi.2020.100855openalex-snapshot
Do banks appraise internal capital markets during credit shocks? Evidence from the Greek crisis
inferred← citeshttps://doi.org/10.1016/j.jfineco.2006.09.008openalex-snapshot
Affiliated firms and financial support: Evidence from Indian business groups
inferred← citeshttps://doi.org/10.1016/j.jfineco.2006.12.006openalex-snapshot
Export Incentives, Financial Constraints, and the (Mis)Allocation of Credit: Micro-Level Evidence from Subsidized Export Loans
inferred← citeshttps://doi.org/10.1016/j.jfineco.2008.10.007openalex-snapshot
Women in the boardroom and their impact on governance and performance☆
inferred← citeshttps://doi.org/10.1016/j.jfineco.2010.12.004openalex-snapshot
Banking system control, capital allocation, and economy performance☆
inferred← citeshttps://doi.org/10.1016/j.jfineco.2013.01.009openalex-snapshot
Pyramidal ownership and the creation of new firms
inferred← citeshttps://doi.org/10.1016/j.jfineco.2014.01.003openalex-snapshot
The internal capital markets of business groups: Evidence from intra-group loans
inferred← citeshttps://doi.org/10.1016/j.jfineco.2020.09.005openalex-snapshot
Business groups and the incorporation of firm-specific shocks into stock prices
inferred← citeshttps://doi.org/10.1016/j.jfs.2018.05.001openalex-snapshot
Can parents protect their children? Risk comparison analysis between affiliates of multi- and single-bank holding companies
inferred← citeshttps://doi.org/10.1016/j.jimonfin.2025.103302openalex-snapshot
Corporate response to monetary policies: Do foreign subsidiaries and local firms behave differently?
inferred← citeshttps://doi.org/10.1016/j.jpubeco.2008.12.003openalex-snapshot
The response of firms to eligibility thresholds: Evidence from the Japanese value-added tax
inferred← citeshttps://doi.org/10.1016/j.jpubeco.2020.104138openalex-snapshot
Taxation and the allocation of risk inside the multinational firm
inferred← citeshttps://doi.org/10.1016/j.jwb.2015.10.003openalex-snapshot
Global corporate governance: On the relevance of firms’ ownership structure
inferred← citeshttps://doi.org/10.1016/j.jwb.2016.11.003openalex-snapshot
International strategy and business groups: A review and future research agenda
inferred← citeshttps://doi.org/10.1016/j.jwb.2017.02.002openalex-snapshot
Corporate governance, board networks and growth in domestic and international markets: Evidence from India
inferred← citeshttps://doi.org/10.1016/j.jwb.2021.101190openalex-snapshot
Financial Crisis of 2008 and Outward Foreign Investments from China and India
inferred← citeshttps://doi.org/10.1016/j.mulfin.2010.12.003openalex-snapshot
Investment–cash flow sensitivity and financing constraints: New evidence from Indian business group firms
inferred← citeshttps://doi.org/10.1016/j.mulfin.2017.02.001openalex-snapshot
Multinationals and the impact of corruption on financial derivatives use and firm value: Evidence from East Asia
inferred← citeshttps://doi.org/10.1016/j.najef.2023.101908openalex-snapshot
Contingent factors of the coinsurance function of internal capital markets: Evidence from the US nonlife insurance industry
inferred← citeshttps://doi.org/10.1016/j.najef.2024.102187openalex-snapshot
Oil price volatility and changes in corporate debt: An empirical study in the Indian landscape
inferred← citeshttps://doi.org/10.1016/j.pacfin.2006.03.003openalex-snapshot
Bond underwriting fees and keiretsu affiliation in Japan
inferred← citeshttps://doi.org/10.1016/j.pacfin.2006.11.001openalex-snapshot
The impacts of “shock therapy” on large and small clients: Experiences from two large bank failures in Japan
inferred← citeshttps://doi.org/10.1016/j.pacfin.2007.07.002openalex-snapshot
Price reaction to rights issues in the Indian capital market
inferred← citeshttps://doi.org/10.1016/j.pacfin.2012.02.003openalex-snapshot
Related-party transactions and corporate governance: The evidence from the Taiwan stock market
inferred← citeshttps://doi.org/10.1016/j.pacfin.2016.05.003openalex-snapshot
Financial constraints and negative spillovers in business groups: Evidence from Korea
inferred← citeshttps://doi.org/10.1016/j.pacfin.2019.02.004openalex-snapshot
Do group-affiliated firms time their equity offerings?
inferred← citeshttps://doi.org/10.1016/j.pacfin.2020.101377openalex-snapshot
Does concentrated founder ownership affect board independence? Role of corporate life cycle and ownership identity
inferred← citeshttps://doi.org/10.1016/j.pacfin.2022.101909openalex-snapshot
Does market competition foster related party transactions? Evidence from emerging market
inferred← citeshttps://doi.org/10.1016/j.pacfin.2024.102555openalex-snapshot
Enterprise digital transformation and return comovement of business groups
inferred← citeshttps://doi.org/10.1016/j.qref.2023.07.009openalex-snapshot
Systemic risk in European banks: Does ownership structure matter?
inferred← citeshttps://doi.org/10.1016/j.rauspm.2017.06.001openalex-snapshot
Political strategy and the growth of business groups
inferred← citeshttps://doi.org/10.1016/j.red.2014.10.001openalex-snapshot
Financial frictions, internal capital markets, and the organization of production
inferred← citeshttps://doi.org/10.1016/j.respol.2011.01.004openalex-snapshot
Ownership and firm innovation in a transition economy: Evidence from China
inferred← citeshttps://doi.org/10.1016/j.respol.2012.02.011openalex-snapshot
Development of university life-science programs and university–industry joint research in Japan
inferred← citeshttps://doi.org/10.1016/j.ribaf.2008.09.002openalex-snapshot
Financial constraints and continental business groups: Evidence from German Konzerns
inferred← citeshttps://doi.org/10.1016/j.ribaf.2020.101206openalex-snapshot
Does Concentrated Founder Ownership Affect Related Party Transactions? Evidence from an Emerging Economy
inferred← citeshttps://doi.org/10.1016/j.ribaf.2024.102732openalex-snapshot
Earnings quality, business group affiliation, and investment efficiency
inferred← citeshttps://doi.org/10.1016/j.wasman.2019.03.041openalex-snapshot
A worldwide empirical analysis of the accounting behaviour in the waste management sector
inferred← citeshttps://doi.org/10.1016/s1135-2523(12)60107-5openalex-snapshot
LA DECISIÓN DE INNOVAR DE LAS EMPRESAS TURÍSTICAS: UN ANÁLISIS EMPÍRICO DE LA INDUSTRIA HOSTELERA
inferred← citeshttps://doi.org/10.1016/s1569-3732(07)12001-6openalex-snapshot
Managerial Power in the Design of Executive Compensation: Evidence from Japan
inferred← citeshttps://doi.org/10.1017/9781009433921openalex-snapshot
Digitalization in Emerging Economies
inferred← citeshttps://doi.org/10.1017/9781108554442.012openalex-snapshot
Related Party Transactions in Commonwealth Asia
inferred← citeshttps://doi.org/10.1017/9781108629065openalex-snapshot
A Case for Shareholders' Fiduciary Duties in Common Law Asia
inferred← citeshttps://doi.org/10.1017/9781108629065.001openalex-snapshot
Introduction
inferred← citeshttps://doi.org/10.1017/9781108629065.002openalex-snapshot
Common Law Jurisdictions in Asia: An Overview
inferred← citeshttps://doi.org/10.1017/9781108629065.003openalex-snapshot
Powers, Shareholders and Justifications for Duties
inferred← citeshttps://doi.org/10.1017/9781108629065.004openalex-snapshot
Objections
inferred← citeshttps://doi.org/10.1017/9781108629065.005openalex-snapshot
‘What’, ‘Whom’, ‘When’, ‘Who’ and ‘How’
inferred← citeshttps://doi.org/10.1017/9781108629065.006openalex-snapshot
Enforcement
inferred← citeshttps://doi.org/10.1017/9781108629065.007openalex-snapshot
Concluding Remarks
inferred← citeshttps://doi.org/10.1017/9781108629065.008openalex-snapshot
Shareholders’ Powers Table
inferred← citeshttps://doi.org/10.1017/9781108629065.009openalex-snapshot
List of the Top Thirty Listed Companies in Hong Kong, Singapore, India and Malaysia
inferred← citeshttps://doi.org/10.1017/9781108629065.010openalex-snapshot
Materials Collected from the Top Thirty Listed Companies
inferred← citeshttps://doi.org/10.1017/9781108629065.011openalex-snapshot
Classification of the Top Thirty Listed Companies Based on Company’s Purpose
inferred← citeshttps://doi.org/10.1017/9781108629065.012openalex-snapshot
Top Five Shareholders in the Top Thirty Listed Companies
inferred← citeshttps://doi.org/10.1017/9781108629065.013openalex-snapshot
Stewardship Codes of UK, Hong Kong, Singapore and Malaysia
inferred← citeshttps://doi.org/10.1017/9781108629065.014openalex-snapshot
Controlling Shareholders of Malaysian Government-Linked Companies
inferred← citeshttps://doi.org/10.1017/9781108629065.015openalex-snapshot
Bibliography
inferred← citeshttps://doi.org/10.1017/9781108629065.016openalex-snapshot
Index
inferred← citeshttps://doi.org/10.1017/jmo.2023.13openalex-snapshot
The role of organisational factors and environmental conditions on the success of newly founded firms
inferred← citeshttps://doi.org/10.1017/mor.2015.22openalex-snapshot
Governance Structure and Related Party Loan Guarantees: The Case of Chinese Family Business Groups
inferred← citeshttps://doi.org/10.1017/s1467222700006194openalex-snapshot
Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth
inferred← citeshttps://doi.org/10.1017/s1467222700009046openalex-snapshot
“Trick or Treat?” The Misrepresentation of American Beef Exports in Britain during the Late Nineteenth Century
inferred← citeshttps://doi.org/10.1017/s1467222700009083openalex-snapshot
Multinational Corporations, Business Groups, and Economic Nationalism: Standard Oil (New Jersey), Royal Dutch-Shell, and Energy Politics in Chile 1913–2005
inferred← citeshttps://doi.org/10.1023/a:1025029601562openalex-snapshot
Financial Ownership, Diversification and Firm Profitability in Japan
inferred← citeshttps://doi.org/10.1057/9781137367204_7openalex-snapshot
Internal Capital Markets and outward Foreign Investment from India and China
inferred← citeshttps://doi.org/10.1057/9781137473585_1openalex-snapshot
Family Firms
inferred← citeshttps://doi.org/10.1057/abm.2013.22openalex-snapshot
Defying isomorphism in foreign-location choice: The role of business group-level international experience in Korean MNCs
inferred← citeshttps://doi.org/10.1057/jibs.2008.66openalex-snapshot
How do corporate governance model differences affect foreign direct investment in emerging economies?
inferred← citeshttps://doi.org/10.1057/s41267-018-0165-5openalex-snapshot
State capitalism and performance persistence of business group-affiliated firms: A comparative study of China and India
inferred← citeshttps://doi.org/10.1057/s41267-020-00395-xopenalex-snapshot
Business groups and the study of international business: A Coasean synthesis and extension
inferred← citeshttps://doi.org/10.1057/s41267-023-00614-1openalex-snapshot
International taxation and the organizational form of foreign direct investment
inferred← citeshttps://doi.org/10.1057/s41267-026-00848-9openalex-snapshot
Multinationals’ solutions to Grand Challenges
inferred← citeshttps://doi.org/10.1057/s41291-017-0021-7openalex-snapshot
Does business group affiliation matter for external debt finance? Evidence from India
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