Corporate group

About: Corporate group is a research topic. Over the lifetime, 1747 publications have been published within this topic receiving 46868 citations.

Revisiting profitability: firm, business group, industry and country effects

Abstract: There is a large body of research in the fields of strategic management and economics that seeks to understand the sources of heterogeneity in firm performance. One approach to this has been to dec...

Strategic Choices of Convenience Store Chains in China: 7-Eleven and FamilyMart

Abstract: Two large Japanese convenience store chain companies, namely 7-Eleven Japan and FamilyMart, both of which set up businesses in China in 2004, have followed entirely different strategies. FamilyMart chose a team management strategy which is distinguished by fully utilizing the resources of its Taiwanese subsidiary and forming a partnership with a big Taiwanese business group, Ting Hsin International Group in China. By contrast, 7-Eleven Japan built up its China subsidiary almost wholly by itself, a policy that can be described as a managing-alone strategy. The differences in strategy stem fundamentally from differences in the two companies' experience of international management and from the knowledge derived from that experience. And their choice of strategies has also been shaped by the interactions between two Taiwanese business groups, namely the Ting Hsin International Group and the President Group. Furthermore, we find that FamilyMart's strategy enabled it to build up its operations more quickly than...

An Empirical Study of Influential Factors of Debt Financing

Abstract: Grouping all listed companies into two categories - companies with an average re- turn to equity (ROE) ‚ 10% and companies with an average ROE <10% in three consecutive years - this paper attempts to analyze the influential factors of debt financing with step-wise lin- ear regression. The results show that there is no significant difference between the two groups in average asset/liability ratio, representing that the qualifications for rights issue prescribed by the China Securities Regulatory Commission (CSRC) has no significant impact on the ratio of debt financing of listed companies. In the first group of companies qualified for rights issue and with various financing channels, several non-financial indexes and industry variables are excluded out of the model, representing that the market factors play a key role in debt financing and that the debt financing decisions are more or less the same across the industries. In the sec- ond group of companies disqualified for rights issue, the industry variables become important, and their influential factors are significantly different from those of the first group of companies.

New trends in consolidation - challenging the changes of new IFRS rules

Abstract: In 2011, the consolidation rules changed repeatedly and substantially in IFRS. In earlier years, consolidation regulations have been modified many times, changing the impact of transactions with entities covered by the scope of consolidation, and that of the transactions with non-controlling interests, but in 2011 less technical, but rather significant changes took place, which altered the scope of consolidation. The purpose of this paper is to describe the comparison of changes with earlier regulations, and to examine how the financial statements of a group of companies would be modified as a result of these changes, and also to explore what effect this change makes on the financial indicators of a group of companies. It is shown that the financial statements of a group of companies may change substantially even if no modification occurs in the group of companies, and only the modification of the rules is executed. The paper points out the outstanding fact that as a result of the revised regulations, the con solidated financial statements are to be assessed from a different perspective, because the so far unambiguous rules which we have become accustomed to for years have been overwritten, and hence the liquidity, solvency and profitability of a consolidated group of companies may change significantly vis-a-vis the earlier years.