A Reexamination Of Tunneling And Business Groups
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A Reexamination Of Tunneling And Business Groups
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Author : Jordan Siegel
language : en
Publisher:
Release Date : 2010
A Reexamination Of Tunneling And Business Groups written by Jordan Siegel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
The last decade of corporate governance research has been focused in large part on identifying what leads to superior or deficient corporate governance in emerging economies. We propose that firms' corporate governance and firms' strategic business activities within an industry are interlinked. By conducting a simultaneous economic analysis of business strategy and corporate governance, scholars can better discern the quality of a firm's governance. We look at one of the most rigorous extant methodologies for detecting "tunneling," or efforts by firms' controlling owner managers to take money for themselves at the expense of minority shareholders. We find that, in contrast to prior views, Indian business groups are not, on average, engaging in tunneling (expropriation), but are on average exhibiting good corporate governance, especially in light of the markedly different business strategies they typically undertake. Moreover, unlike many past conceptions of business groups from financial economics, sociology, and strategy, we find evidence for a knowledge-based "recombinative capabilities" view of business groups-that such groups have done the most to invest in R & D and other skills necessary to combine inputs in ways that lead to greater added value. Further, our finding that Indian business groups have grown larger and more diversified since liberalization and since broad-based corporate governance reforms were implemented, goes expressly against the prediction of prior schools of thought about business groups. We argue that the conventional wisdom about tunneling and business groups will need to be questioned and reformulated in light of the new data, methodology, and findings presented in this study.
Business Groups In The West
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Author : Asli M. Colpan
language : en
Publisher: Oxford University Press
Release Date : 2018
Business Groups In The West written by Asli M. Colpan and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Business & Economics categories.
This volume aims to explore the evolution of large enterprises in today's developed economies in the West. It focuses on the economic institution of the business group and understanding the factors behind its rise, growth, resilience, and/or fall; its behavioural and organizational characteristics; and its contributions to economic development.
Comparative Takeover Regulation
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Author : Umakanth Varottil
language : en
Publisher: Cambridge University Press
Release Date : 2017-10-26
Comparative Takeover Regulation written by Umakanth Varottil and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-26 with Business & Economics categories.
Comparative Takeover Regulation compares the laws relating to takeovers in leading Asian economies and relates them to broader global developments. It is ideal for educational institutions that teach corporate law, corporate governance, and mergers and acquisitions, as well as for law firms, corporate counsel and other practitioners.
The Marwaris
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Author : Thomas A Timberg
language : en
Publisher: Penguin UK
Release Date : 2015-05-22
The Marwaris written by Thomas A Timberg and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-22 with Literary Collections categories.
In the nineteenth century, a tiny community from the deserts of Rajasthan spread out to every corner of India. The Marwaris controlled much of the country’s inland trade by the time of the First World War. They then turned their hand to industry and, by the 1970s, owned most of India’s private industrial assets. Today, Marwari businessmen account for a quarter of the Indian names on the Forbes billionaires list.// What makes the Marwaris so successful? Is it their indomitable enterprise, or their incredible appetite for risk? In this new book, Thomas Timberg shows how the Marwaris rely on a centuries-old system for conserving and growing capital which has stood them in good stead, alongside a strong sense of business ethics which has earned them respect.// Family businesses in general and the Marwaris in particular might have a vital role to play in shaping India’s economic future.
Research Handbook On Shareholder Power
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Author : Jennifer G. Hill
language : en
Publisher: Edward Elgar Publishing
Release Date : 2015-07-31
Research Handbook On Shareholder Power written by Jennifer G. Hill and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-31 with Law categories.
Much of the history of corporate law has concerned itself not with shareholder power, but rather with its absence. Recent shifts in capital market structure require a reassessment of the role and power of shareholders. These original, specially commiss
Global Themes And Local Variations In Organization And Management
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Author : Gili S. Drori
language : en
Publisher: Routledge
Release Date : 2013-07-24
Global Themes And Local Variations In Organization And Management written by Gili S. Drori and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-24 with Business & Economics categories.
Global Themes and Local Variations in Organization and Management: Perspectives on Glocalization offers a broad exposition of the relations between the global and the local with regard to organizational and managerial ideas, practices, and forms. This edited volume forges ahead to capture the complexity of modern management and organization that results from the processes of glocalization. Universality is among the core underlying principles of the management of organizations, as well as of organization and management science itself. Yet, reality reveals enormous variation across social and cultural contexts. For instance, multinational corporations must adjust their management practices to adhere to national regulation and local standards; manufacturers and service providers routinely tailor their products to suit the local preferences of consumers; and non-profit organizations amend their advocacy agenda to appeal to local sentiments. The work assembled here goes beyond merely describing such patterns of variation and adaptation in organization and management; research and commentary engage directly with the tensions between homogeneity and heterogeneity, convergence and divergence, global and local. With contributions from leading scholars in the field of comparative organization studies, this collection offers a substantive contribution to the investigation of organization and management, as well as providing a valuable resource for students of organization studies, international business, and sociology.
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Author : 顧婧
language : zh-CN
Publisher: 崧燁文化事業有限公司
Release Date : 2018-09-01
written by 顧婧 and has been published by 崧燁文化事業有限公司 this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-01 with Business & Economics categories.
本書描述了中小企業融資現狀以及影響融資的成因分析；透過對成都市科技型中小企業的調研分析，挖掘了科技型中小企業的融資困境因素；並對白酒行業的中小企業融資現狀行分析。 本書試圖將現代金融服務業與白酒製造結合起來，搭建好白酒製造業與金融資本結合的平台，在供應金融創新模式構建以及供應金融風險度量的基礎上，提出了供應金融生態圈的構想，有助於白酒供應的良好發展，並實現各利益主體的多贏格局。
Panel Methods For Finance
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Author : Marno Verbeek
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2021-10-25
Panel Methods For Finance written by Marno Verbeek and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-25 with Business & Economics categories.
Financial data are typically characterised by a time-series and cross-sectional dimension. Accordingly, econometric modelling in finance requires appropriate attention to these two – or occasionally more than two – dimensions of the data. Panel data techniques are developed to do exactly this. This book provides an overview of commonly applied panel methods for financial applications, including popular techniques such as Fama-MacBeth estimation, one-way, two-way and interactive fixed effects, clustered standard errors, instrumental variables, and difference-in-differences. Panel Methods for Finance: A Guide to Panel Data Econometrics for Financial Applications by Marno Verbeek offers the reader: Focus on panel methods where the time dimension is relatively small A clear and intuitive exposition, with a focus on implementation and practical relevance Concise presentation, with many references to financial applications and other sources Focus on techniques that are relevant for and popular in empirical work in finance and accounting Critical discussion of key assumptions, robustness, and other issues related to practical implementation
Corporate Governance And Organisational Performance
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Author : Naeem Tabassum
language : en
Publisher: Springer Nature
Release Date : 2020-06-28
Corporate Governance And Organisational Performance written by Naeem Tabassum and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-28 with Business & Economics categories.
Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.
Ferreting Out Tunneling
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Author : Marianne Bertrand
language : en
Publisher:
Release Date : 2000
Ferreting Out Tunneling written by Marianne Bertrand and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Conflict of interests categories.
In many countries, controlling shareholders are accused of tunneling, transferring resources from companies where they have few cash flow rights to ones where they have more cash flow rights. Quantifying the extent of such tunneling, however, has proven difficult because of its illicit nature. This paper develops a general empirical technique for quantifying tunneling. We use the responses of different firms to performance shocks to map out the flow of resources within a group of firms and to quantify the extent to which the marginal dollar is tunneled. We apply our technique to data on Indian business groups. The results suggest a significant amount of tunneling between firms in these groups