Topic
Corporate group
About: Corporate group is a research topic. Over the lifetime, 1747 publications have been published within this topic receiving 46868 citations.
Papers published on a yearly basis
Papers
More filters
••
TL;DR: Bauguess, Moeller, Schlingemann, and Zutter as discussed by the authors discussed the effectiveness of the market for corporate control and the ownership structure and target returns of companies.
6 citations
••
TL;DR: Achlioptas et al. as discussed by the authors analyzed the financial performance of business groups and group affiliated firms relative to stand-alone firms in Pakistan and found that business groups evolve differently in the post financial reforms and privatisation programs during the post privatisation era.
Abstract: This study analyses the financial performance of business
group affiliated firms relative to stand-alone firms in Pakistan. The
investigations are done across the sample period of 1993-2012. The study
employs ‘Chop shop’ methodology to construct the excess values
(performance measure); in order to compare the results with earlier well
documented studies of both developed and emerging countries. Both
univariate and regression analyses clearly demonstrate that group
affiliated firms are trading at discount (underperform relative to
stand-alone firms) during the sample period. Despite the historical
success in the past, the findings suggest that business groups evolve
differently in the post financial reforms and privatisation programs
era. The findings are consistent with the market failure argument and
agency theory. However, the study finds a little evidence of efficient
internal markets of Pakistani business groups. Keywords: Business
Groups, Group Affiliation, Excess Value, Market Failure Theory, Agency
Theory, Chop Shop Methodology
6 citations
•
TL;DR: The head of the branded private investment company owner of the Virgin brand reflected on the group's new pillars of growth as discussed by the authors, including airlines, health, financial services, mobile and media businesses.
Abstract: The head of the branded private investment company owner of the Virgin brand reflected on the group's new pillars of growth. Since the 1970s when Richard Branson created the Virgin record retailing company, Virgin had developed from scratch six companies worth more than $1 billion each and changed their focus from record retailing and music production to a broader one based on airlines, health, financial services, mobile and media businesses. In addition, Virgin had been able to apply the Virgin brand to several different products without harming the brand. Their challenge had been finding the capital to finance the new ventures rather than the brand. Since 2005, Branson was dedicating more and more time to a charitable organization, Virgin Unite, and had appointed Stephen Murphy the new CEO of the Group. As Murphy contemplated their growth strategy for the next decade he faced a number of difficult decisions. First, how should he fund new ventures? While growing, the Group had sold stakes in its companies and had signed with them licensing agreements for the use of the Virgin brand name. The Virgin Group was today a loose group of companies some linked to Virgin only by brand licensing agreements. Should they expand by signing new licensing agreements? Second, what kind of opportunities should he seek? Should they keep acting as a venture capital firm, nurturing new ventures as in the past or should they invest in larger and more established companies? What would be the consequences of their choices on the brand and on the Group? Would they always be able to inject the Virgin culture and turn around companies?Learning Objective: Growth strategy.
6 citations
••
TL;DR: In the context of corporate groups, related party transactions pose particular challenges as mentioned in this paper, as the very frequency, volume, and depth of intragroup transactions make them particularly suitable vehicles for illicitly extracting wealth from a corporation at the expense of minority shareholders and creditors, and therefore, traditional techniques for policing related-party transactions, such as judicial fairness review and or requirements that the transaction be approved by disinterested decision-makers can easily become impracticable where, as in the intraggroup context, self-dealing transactions are the norm rather than the exception.
Abstract: In the context of corporate groups, related party transactions pose particular challenges. On the one hand, transactions within corporate groups are often economically desirable. The very raison d’etre of a corporate group may be to facilitate transaction between its constituent companies. On the other hand, the very frequency, volume, and depth of intragroup transactions make them particularly suitable vehicles for illicitly extracting wealth from a corporation at the expense of minority shareholders and creditors. Moreover, traditional techniques for policing related party transactions, such as judicial fairness review and or requirements that the transaction be approved by disinterested decision-makers can easily become impracticable where, as in the intragroup context, self-dealing transactions are the norm rather than the exception. It is therefore unsurprising that different legal systems have developed additional legal techniques for policing intra-group transactions in the context of corporate groups. The present contribution seeks to provide a survey over these different approaches and explain how they help to reduce the social costs of self-dealing.
6 citations
••
TL;DR: The Wells Fargo and Company's Employee Assistance Consulting (EAC) is an internal corporate-based EAP that delivers organizationally congruent services to a diversified financial services company with 80+ businesses and over 146,000 team members.
Abstract: Wells Fargo and Company's Employee Assistance Consulting (EAC) is an established and successful internal corporate-based EAP that delivers organizationally congruent services to a diversified financial services company with 80+ businesses and over 146,000 team members. While some elements of traditional EAPs are evident in the services provided by this entity, EAC also provides highly specialized and customized consultations to its corporate partners, business group customers and employees. Using a highly integrated service model that aligns closely with the specific strategy and operations of each Wells Fargo business, EAC is an invited guest at many of the company's most influential tables. EAC collaboratively partners with senior and line management, Human Resources, the Employment Law Department, Disability Management (called WorkAbility at Wells Fargo) and Risk Management, Corporate Benefits, Corporate Security, Learning and Development, and others to provide leadership and organizational in...
6 citations