Kim, Daehwan; Sung, Tae Yoon - In: Applied financial economics 19 (2009) 7/9, pp. 659-667
This article critically examines two conventional ideas about cross-ownership: (1) it is almost impossible to takeover a cross-owned group of firms; (2) the controlling shareholder of a cross-owned group of firms extracts certain benefit from his/her control right. Through a simple analysis, we...