Pattnaik, Chinmay; Chang, James; Shin, Hyun - In: Asia Pacific Journal of Management 30 (2013) 4, pp. 987-1004
This study examines the difference in corporate transparency of firms affiliated with business groups and unaffiliated … dispersion. We find that firms affiliated with business groups are less transparent than unaffiliated firms. Lack of transparency … affiliated with business groups are less transparent due to their reliance on internal capital markets, and therefore lack …