The Value of Official Business Group Affiliation : Evidence from a Change in Korean Chaebol Designation Policy

The Korean government doubled the total assets threshold for its large business group (chaebol) designation policy in 2016. Exploiting this policy change, I examine the value implications of a firm’s chaebol affiliation. My results suggest that firms affiliated with business groups that had become non-chaebols because of the policy change experienced substantial decreases in value and investment and increased financial frictions, compared with similar but unaffected chaebol-affiliated firms. Stock market reactions to announcements regarding the policy change did not predict its long-term value implications

MoreLess

Year of publication:	[2021]
Authors:	Lee, Sangwon
Publisher:	[S.l.] : SSRN
Subject:	Südkorea \| South Korea \| Konglomerat \| Conglomerate \| Konzern \| Corporate group \| Eigentümerstruktur \| Ownership structure \| Unternehmenserfolg \| Firm performance \| Corporate Governance \| Corporate governance

freely available

Full text |

More access options

doi.org

Check Google Scholar

In German libraries (KVK)

I need help

Which error do you want to report?

Report: URL of this record is broken

Please note: Sometimes more than one URL is available for a resource. Please click on "More Options" to display these URLs

Report: Addition of an URL to that resource

Please note: Sometimes more than one URL is available for a resource. Please click on "More Options" to display these URLs

Report: The language(s) of that resource is/are…

Please note: Required language not in the list? Please use comment field

Report: Addition of an identifier to that resource

Report: report typo

Report: Add statement

Report: Add keywords

Please use the commentary box to describe other errors

Would you like to receive a feedback?

Commentary

Please type the code from the image

For general questions please use this address.

Persistent link: https://www.econbiz.de/10013213850