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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: lasting structures in which listed firms control other listed firms. Hand-collected historical data illuminate how the present ownership structure of the United States arose: (1)...
Persistent link: https://www.econbiz.de/10013071909
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Emerging Market Business Groups, Foreign Investors, and Corporate Governance
Khanna, Tarun - 2010
We examine the interaction between three kinds of concentrated owners commonly found in an emerging market: family-run business groups, domestic financial institutions, and foreign financial institutions. Using data from India in the early 1990s, we find evidence that domestic international...
Persistent link: https://www.econbiz.de/10012763811
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Corporate Governance, Economic Entrenchment and Growth
Morck, Randall - 2013
innovation. The result is an economy-wide misallocation of resources, and slower economic growth. Second, political influence is …
Persistent link: https://www.econbiz.de/10012754592
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Intracompany Governance and Innovation
Belenzon, Sharon - 2014
This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …
Persistent link: https://www.econbiz.de/10013070812
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Mixing Family with Business : A Study of Thai Business Groups and the Families Behind Them
Bertrand, Marianne - 2010
Families run a large fraction of business groups around the world. In this paper, we analyze how the structure of the families behind these business groups affects the groups' organization, governance and performance. To address this question, we constructed a unique data set of family trees and...
Persistent link: https://www.econbiz.de/10012759606
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Corporate Ownership in France : The Importance of History
Murphy, Antoin E. - 2009
This paper attempts to show the importance of history in influencing the structure of corporate ownership in France. The strong concentration of family ownership in France is traced to historical weaknesses in the money and capital markets that forced families to have recourse to self-financing....
Persistent link: https://www.econbiz.de/10012767636
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How Do CEOS See Their Role? Management Philosophy and Styles in Family and Non-Family Firms
Mullins, William - 2014
Using a survey of 800 CEOs in 22 emerging economies we show that CEOs' management styles and philosophy vary with the control rights and involvement of the owning family and founder: CEOs of firms with greater family involvement have more hierarchical management, and feel more accountable to...
Persistent link: https://www.econbiz.de/10013063090
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The Riddle of the Great Pyramids
Morck, Randall - 2013
Large pyramidal family controlled business groups are the predominant form of business organization outside America, Britain, Germany, and Japan. Large pyramidal groups comprising dozens, even hundreds, or listed and unlisted firms place the governance of large swathes of many countries' big...
Persistent link: https://www.econbiz.de/10012753143
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Related Investing : Corporate Ownership and Capital Mobilization During Early Industrialization
Khan, B. Zorina - 2017
Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as asymmetrical information, while others regard familial connections as conduits for inefficiency, with...
Persistent link: https://www.econbiz.de/10012965431
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The Structure and Formation of Business Groups : Evidence from Korean Chaebols
Almeida, Heitor; Park, Sang Yong; Subrahmanyam, Marti G.; … - 2021
In this paper we study the determinants of business groups' ownership structure using unique panel data on Korean chaebols. In particular, we attempt to understand how pyramids form over time. We find that chaebols grow vertically (that is, pyramidally) as the family uses well-established group...
Persistent link: https://www.econbiz.de/10013311947