The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups
Open accessAbstract
Emerging markets like India have poorly functioning institutions, leading to severe agency and information problems. Business groups in these markets have the potential both to offer benefits to member firms, and to destroy value. We analyze the performance of affiliates of diversified Indian business groups relative to unaffiliated firms. We find that accounting and stock market measures of firm performance initially decline with group diversification and subsequently increase once group diversification exceeds a certain level. Unlike U.S. conglomerates' lines of business, and similar to the affiliates of U.S. LBO associations, affiliates of the most diversified business groups outperform unaffiliated firms.
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Cited by
Financial and Legal Constraints to Growth: Does Firm Size Matter?
BECK, T., DEMIRGÜÇ‐KUNT, A., & MAKSIMOVIC, V. (2005) · The Journal of Finance · doi:10.1111/j.1540-6261.2005.00727.x · Cited by 2,557
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Emerging multinationals from mid‐range economies: the influence of institutions and factor markets
Hoskisson, R. E., Wright, M., Filatotchev, I., & Peng, M. W. (2013) · Journal of Management Studies · doi:10.1111/j.1467-6486.2012.01085.x · Cited by 756
Institutional Strategies in Emerging Markets
Marquis, C., & Raynard, M. (2015) · Academy of Management Annals · doi:10.5465/19416520.2015.1014661 · Cited by 580
Masulis, R. W., Pham, P. K., & Zein, J. (2011) · Review of Financial Studies · doi:10.1093/rfs/hhr052 · Cited by 523
Metadata
- Authors
- Khanna, T., & Palepu, K.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2000-04
- Volume
- 55
- Issue
- 2
- Pages
- 867-891
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3125202188
- Cited by
- 2,582
- References
- 3
- FWCI
- 152.72
- Type
- journal article
- Language
- en
- Open access
- green
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