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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: In this article, the authors examined the economic history and development of the corporate form in Ancient India and found that the use of the sreni was widespread including virtually every kind of business, political and municipal activity.
Abstract: The corporation is the most popular form of business organization. Moreover, as the economies of emerging markets leap forward the popularity of the corporate form continues to grow. In light of its widespread appeal, one is naturally inclined to inquire more about the corporation and how it developed over time. Many questions can be pondered including: where did the corporate form originate; how old is it; has the corporation taken the same form everywhere or have there been local variations; and what are the pre-conditions for the development of the corporate form. All these questions are important not only for their own intrinsic value, but also because of the insights they provide about the development of the corporate sector in emerging markets and about the prospects for convergence, of one kind or another, in corporate governance. Indeed, a series of important papers by Henry Hansmann & Reinier Kraakman and other authors examine these questions both in Rome and in Medieval Europe. The aim of this paper is to explore a number of these questions by examining the economic history and development of the corporate form in Ancient India. The paper finds considerable evidence that urges us toward a significant revision of the history and development of the corporate form. The examination reveals that business people on the Indian subcontinent utilized the corporate form from a very early period. The corporate form (e.g., the sreni) was being used in India from at least 800 B.C., and perhaps even earlier, and was in more or less continuous use since then until the advent of the Islamic invasions around 1000 A.D. This provides evidence for the use of the corporate form centuries before the earliest Roman proto-corporations. In fact, the use of the sreni in Ancient India was widespread including virtually every kind of business, political and municipal activity. Moreover, when we examine how these entities were structured, governed and regulated we find that they bear many similarities to corporations and, indeed, to modern US corporations. The familiar concerns of agency costs and incentive effects are both present and addressed in quite similar ways as are many other aspects of the law regulating business entities. Further, examining the historical development of the sreni indicates that the factors leading to the growth of this corporate form are consistent with those put forward for the growth of organizational entities in Europe. These factors include increasing trade, methods to contain agency costs, and methods to patrol the boundaries between the assets of the sreni and those of its members (i.e., to facilitate asset partitioning and reduce creditor information costs). Finally, examination of the development of the sreni in Ancient India sheds light on the importance of state structure for the growth of trade and the corporate form as well as on prospects for some kind of convergence in corporate governance.

15 citations

Journal ArticleDOI
TL;DR: Based on resource-dependence theory, three hypotheses are developed and tested regarding the negative relationship between equity stakes in group-affiliated firms held by business-group headquarters and the slack resources of group- affiliated firms as mentioned in this paper.

15 citations

Journal ArticleDOI
TL;DR: In this article, the authors revisited an old issue on the relation between management ownership and firm's value, and computed ownership right and control right separately for each business group affiliated firm.

15 citations

Journal ArticleDOI
TL;DR: Using resource-based and institutional theory, the authors hypothesize that affiliation with a domestically diversified business group confers pre- and post-acquisition advantages and legitimacy, fostering unrelated foreign acquisitions, and argue that private ownership as well as a motive to seek strategic assets amplify this tendency among Chinese firms affiliated to diversified groups.

15 citations

Journal ArticleDOI
TL;DR: The role of international organizations such as the OECD, World Bank, IMF and the World Trade Organization (WTO) has been examined in the context of soft law and corporate governance.
Abstract: Scholars today are inquiring as to what, other than formal legal commands or lawsuits based thereon, influences the behavior of human actors in corporations. "Norms versus corporate law" has become a subject of symposia and other fora of inquiry. In that inquiry, arguably two neglected, overlapping aspects have been "soft law" and the role of international organizations such as the OECD, World Bank, IMF and the World Trade Organization (WTO). International and comparative scholars define soft law to include aspirational codes of conduct for corporate actors, corporate governance codes of best practices, treaty provisions, trade agreement provisions, and the like, all of "which may provide a conceptual framework for decisionmaking" in the corporate setting "but do not seriously constrain [corporate] decisionmakers." Codes of best practices also include a substantial comparative aspect as scholars and teachers compare the Vienot Report in France with the Cadbury Report in the UK, the ALI Corporate Governance Project and General Motors' 29 points in the United States, the Bosch Report in Australia and similar codes around the world. Newer codes of best practices include those in Italy, Korea and Japan. The growth of large multinational corporations and the collective action problem host nation states face in policing multinationals' activities highlight the need for study of soft law, the role of international organizations, and their effects on corporate activities with respect to core worker welfare and safety protections, environmental degradation, and similar subjects. The time may soon be arriving when these subjects have a place in the basic business organizations classes taught in law schools here in the United States as well as elsewhere.

15 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
202321
202249
202165
202078
201967
201874