Considering the recent impact of the capital market on corporate strategy, this book offers analysis of the pressures created by the capital bull market of the 1990s & the bear market of more recent times, showing how management action & calculation in publicly quoted corporations has been...

The past twenty years have witnessed the emergence of internet conglomerates fueled by acquisitions. We provide a simple theoretical model to shed some light on this. Following a large literature in management (Wernerfelt, 1984) we endow firms with a set of scarce competencies which drive their...

Large business groups, which played a key role in Korea's economic development, are still dominant today, especially in exporting. The concentration of economic power creates a number of problems and risks. Ensuring a level-playing field between the business groups, also called chaebols, and...