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This paper examines how investors perceive business group membership in Korea during the COVID-19 pandemic. Stock price performance analysis reveals evidence of a time-varying and heterogeneous value of affiliation: investors discount business group affiliation during a market collapse, but are...
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as a conglomerate or with several independently run companies as a conglomerate. In India, conglomerates are large and … establish that firms affiliated to a conglomerate are far more leveraged than their unaffiliated counterparts. Regulators and …
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