Byun, Hae-Young; Choi, Sunhwa; Hwang, Lee-Seok; Kim, … - In: Journal of Corporate Finance 23 (2013) C, pp. 311-331
This paper examines the relation between business group affiliation and the cost of debt capital. The co-insurance effect associated with business groups can reduce the cost of debt, while expropriation by controlling shareholders can raise the cost of debt. We find that firms affiliated with...
