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Corporate group
About: Corporate group is a research topic. Over the lifetime, 1747 publications have been published within this topic receiving 46868 citations.
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TL;DR: Guriev et al. as mentioned in this paper analyzed the effect of ownership concentration on the controlling owner's incentives to share with outside investors in the presence of a threat of a takeover and found that up to a certain level, an increase in ownership concentration improves corporate governance.
Abstract: The paper studies corporate governance in non-listed firms. We analyze the effect of ownership concentration on the controlling owner’s incentives to share with outside investors in the presence of a threat of takeover. A simple model predicts that up to a certain level, an increase in ownership concentration improves corporate governance (defined as the costs of diverting profits). Using a dataset on ownership and corporate governance in Russian non-listed industrial firms we find that this model is consistent with the data. ∗This paper is based on a report on MPSF SETT project Guriev et al. (2003). We thank Erik Berflof, Mike Burkart, Boris Kuznetsov, Pavel Kuznetsov, and seminar and conference participants at CEFIR, Federation Council, Higher School of Economics, MPSF, Carnegie Moscow Center. The authors gratefully acknowledge financial support from USAID and Moscow Public Science Foundation through the Strengthening Economic Think Tanks Program, and from Ford Foundation through NES Research Center’s 2002-03 “Demand for economic institutions” project. †Department of Economics, Princeton University, and New Economic School, Moscow. E-mail: sguriev@princeton.edu ‡CEFIR. E-mail: olazareva@cefir.ru §CEFIR. E-mail: arachinsky@cefir.ru ¶Institute for the Economy in Transition, Moscow. E-mail: tsouhlo@iet.ru
16 citations
TL;DR: This paper explored how junior and mid-tier resources companies operating in the world's most impoverished countries understand and practice CSR and its relationship to their assumed social licence to operate (SLO).
16 citations
TL;DR: In this article, the authors examined the governance attributes of post-IPO retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies.
16 citations
TL;DR: The authors investigated the impact of political connections and business group affiliation on the cash holdings of firms listed on two main Chinese stock exchanges, and found political connections to be positively correlated with cash holdings, while business group affiliations is negatively correlated.
16 citations
TL;DR: In this article, the determinants of R&D offshoring of Spanish firms using infor-mation from the Panel of Technological Innovation were analyzed and they found that being an exporter, continuous R&DI engagement, applying for patents, being a subsidiary, and firm size are factors that positively affect the decision to offshore.
Abstract: This paper analyzes the determinants of R&D offshoring of Spanish firms using infor-mation from the Panel of Technological Innovation. We find that being an exporter, continuous R&D engagement, applying for patents, being a subsidiary, and firm size are factors that positively affect the decision to offshore R&D. In addition, we obtain that the factors that influence this decision for firms that belong to a business group differ depending on whether the firm purchases R&D services within the group or through the market.
16 citations