Record Details
 
  « New Search    
   
 
Bibliographic Data
Control Number309321
Date and Time of Latest Transaction20150706095135.AM
General Information150706s |||||||||b ||00|||
Cataloging SourceSTII-DOST
Local Call NumberScienceDirect
Main Entry - Personal NameKeun Lee
 Kineung Choo
 Kwang Soo Cheong
Title StatementUnderstanding the behavior of business groups A dynamic model and empirical analysis by Kwang Soo Cheong, Kineung Choo and Keun Lee
Physical Descriptionpages 141-152 computer file; text; 388kb
Summary, Etc.Business groups play significant economic roles in many countries. Motivated by the observation that the literature on business groups is ever-expanding yet providing ambiguous or conflicting results based on empirical investigations, this paper intends to first develop a theoretical model to explain behavior and performance of business groups and then conduct complementary empirical analysis. Drawing on Penrose’s (1959) resource-based theory of firm growth, this paper models the firms of which some key resources are lumpy or indivisible and thus they must be purchased or installed only in certain sizes. This premise in the basic model leads to an advantage for business-group firms relative to stand-alone firms without respect to the existence of market failure. The model also predicts that business group firms will be more profitable in terms of profit-to-sales and will have higher sales and asset, leading to faster growth, other things being equal. Implications of such advantage on firms’ performance and behavior are investigated first using numerical experiments based on a dynamic optimization model and then regression analyses based on the Korean firm data. It turns out that a set of testable predictions derived from the basic theoretical model is generally consistent with the conclusions from numerical experiments and empirical tests.04
Subject Added Entry - Topical Termcial sciences
LocationST STII ScienceDirect NONPRINTS NP 13-14561 1 13-14561 Online/Download 2010-11-03
  
     
 
Physical Location
Department of Science and Technology
Science and Technology Information InstituteScienceDirect
  
     
 
Digital Copy
Not Available
  
     
  |  Download MARC record Download MARC
 
         
         
Online Catalog
Basic Search
Advanced Search
Browse Subjects
Book Cart
 
         

Text Size:
S  -  M  -  L
Copyright © 2004-2024. Philippine eLib Project
Host: U.P. Diliman University Library