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We examine comparative financial performance of business groups in Pakistan employing samples of firms listed on the …-group firms. Our results based on superior financial performance of business groups indicate that business groups in Pakistan are …
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Pakistan in particular. The analysis shows that stock market and accounting performance measures of Pakistani group … firms underperform unaffiliated firms in Pakistan. -- business group ; cross-subsidization ; Pakistan ; Tobin’s q …
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Considering the market imperfection theory, this study analyses the performance of Pakistani business groups using a data set of 253 firms from 2003-2012. We find that group affiliation plays a significant role in firm performance due to the group's ability to better cope with inefficiencies and...
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