Similar Search Results

Business Groups : Panics, Runs, Organ Banks and Zombie Firms

Colpan, Asli M.; Morck, Randall - National Bureau of Economic Research - 2021

Business groups often contain banks or near banks that can protect group firms from economic shocks. A group bank subordinate to other group firms can become an "organ bank" that selflessly bails out distressed group firms and anticipates a government bailout. A group bank subordinating other...

Persistent link: https://www.econbiz.de/10012599325

Regulating Conglomerates in China : Evidence from an Energy Conservation Program

Chen, Qiaoyi; Chen, Zhao; Liu, Zhikuo; Suárez Serrato, … - National Bureau of Economic Research - 2021

We study a prominent energy regulation affecting large Chinese manufacturers that are part of broader conglomerates. Using detailed firm-level data and difference-in-differences research designs, we show that regulated firms cut output and shifted production to unregulated firms in the same...

Persistent link: https://www.econbiz.de/10012599356

Finance and Governance in Developing Economies

Morck, Randall - 2011

Classic Big Push industrialization envisions state planners coordinating economic activity to internalize a range of externalities that otherwise lock in a low-income equilibrium, but runs afoul of well-known government failure problems. Successful Big Push coordination may occur instead when a...

Persistent link: https://www.econbiz.de/10012461788

Business Groups in Canada : Their Rise and Fall, and Rise and Fall Again

Morck, Randall - 2015

Family-controlled pyramidal business groups were important in Canada early in the 20th century, amid rapid catch-up industrialization, but largely gave way to widely held free-standing firms by mid- century. In the 1970s and early 1980s - an era of high inflation, financial reversal,...

Persistent link: https://www.econbiz.de/10012456963

Does Conflict of Interest Lead to Biased Coverage? Evidence from Movie Reviews

DellaVigna, Stefano - 2014

Media outlets are increasingly owned by conglomerates, inducing a conflict of interest: a media outlet can bias its coverage to benefit companies in the same group. We test for bias by examining movie reviews by media outlets owned by News Corp.--such as the Wall Street Journal--and by Time...

Persistent link: https://www.econbiz.de/10012458004

The Great Pyramids of America : A Revised History of US Business Groups, Corporate Ownership and Regulation, 1930-1950

Kandel, Eugene - 2013

Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups … ownership structure of the United States arose: (1) Until the mid-20th century, US corporate ownership was unexceptional: large … diversified and family controlled; but the others were tightly focused and had widely held apex firms; (3) US business groups …

Persistent link: https://www.econbiz.de/10012458971

Business Group Spillovers

Naaraayanan, S. Lakshmi; Wolfenzon, Daniel - National Bureau of Economic Research - 2023

We compare the investment of standalone firms across regions after a positive shock to the investment opportunities generated by a large-scale highway development project. We show that the standalones' investment sensitivity is lower in regions with a higher density of business groups in the...

Persistent link: https://www.econbiz.de/10014250125

Global Agricultural Value Chains and Structural Transformation

Lim, Sunghun - National Bureau of Economic Research - 2021

Since the mid-1900s, agricultural global value chains (AGVCs) have grown rapidly and transformed the nature of agri-food production around the world. Little is known, however, about how participation in AGVCs changes the structure of participating economies. Using a constructed panel dataset...

Persistent link: https://www.econbiz.de/10012616641

The Human Capital Century and American Leadership : Virtues of the Past

Goldin, Claudia - National Bureau of Economic Research - 2001

The modern concept of the wealth of nations emerged by the early twentieth century. Capital embodied in people human capital mattered. The United States led all nations in mass postelementary education during the human-capital century.' The American system of education was shaped by New World...

Persistent link: https://www.econbiz.de/10012470485

The Race between Education and Technology : The Evolution of U.S. Educational Wage Differentials, 1890 to 2005

Goldin, Claudia; Katz, Lawrence F. - National Bureau of Economic Research - 2007

U.S. educational and occupational wage differentials were exceptionally high at the dawn of the twentieth century and … combined with fluctuations in the growth of relative skill supplies go far to explain the long-run evolution of U.S …

Persistent link: https://www.econbiz.de/10012465672