The Future of Business Groups in Emerging Markets: Long-run Evidence From Chile.
Year: 2000
Type: article
Abstract: We demonstrate variation in the extent to which firms benefit from their affiliation with Chilean business groups in the 1988-1996 period. The net benefits of unrelated diversification are positive if group diversification exceeds a threshold level, though this threshold increases with time. We find evidence of non-diversification related group benefits, which atrophy over time. We conjecture that the evolution of institutional context alters the value creating potential of business groups, though it does so slowly.
Source: Academy of Management Journal
DOI: 10.5465/1556395
Authors: Tarun Khanna, Krishna Palepu
Institutions: Harvard University, National Bureau of Economic Research
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3123190435