Kang, Minjung; Lee, Ho-Young; Lee, Myung-Gun; Park, … - In: Pacific-Basin Finance Journal 29 (2014) C, pp. 272-296
In this study, we examine whether related party transactions (RPT) are used as a mechanism for tunneling among firms belonging to large business groups in Korea (chaebols). Using 982 firm-year data of publicly traded firms in Korea, we find that the control–ownership wedge is positively...