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Some scholars have argued that globalization should pressure firms to adopt a common set of the most efficient corporate governance practices, while others maintain that such convergence will not occur because of a variety of forms of path-dependence. With new data on governance in 24 developing...
Persistent link: https://www.econbiz.de/10005045177
We use a new database from fifteen emerging markets as well as from prewar and modern Japan to examine the popular view that business groups - ubiquitous in most emerging markets - facilitate risk sharing by smoothing the performance of affiliated firms. We replicate existing results on risk...
Persistent link: https://www.econbiz.de/10005045220
Diversified business (or corporate) groups, consisting of legally independent firms operating in multiple markets, are ubiquitous in emerging markets and even in some developed economies. The study of groups, a hybrid organizational form between firm and market, is of relevance to industrial...
Persistent link: https://www.econbiz.de/10005045228