This study attempts a statistical examination and analysis of the characteristics and situation surrounding business groups (Chaebol) in Korea in order to provide basic information for corporation policy and the ongoing business group debate. Business groups have continued to account for an...

We identify and examine the efficacy of organizational mechanisms through which diversified firms are effectively managed without loss of control. Building on the resource based view of business groups, we argue that business groups in emerging markets use these mechanisms more often and derive...

The authors show that there is a negative relationship between economic policy uncertainty (EPU) and firm overinvestment using Korean data from 2007 to 2016. Since Jensen (1986) shows that a firm's free cash flow is an important factor of overinvestment, the authors examine how free cash flow...