horizontal, vertical, or conglomerate. Three novel features of CBAs are highlighted. First, horizontal and vertical CBAs are … relatively stable over time. Second, substantial parts of CBAs involve conglomerate acquisitions. Third, the wave-like growth of … CBAs arises primarily from changes in conglomerate activity, which responds to international valuation differences between …

globalization and flexibilization. After enduring the 1997 crisis, the chaebols shifted from growth- to profit-orientedness due to … external pressures, and neoliberal strategy intensified due to an emphasis on globalization and flexibilization. However, the …