The Future of Business Groups in Emerging Markets: Long Run Evidence from Chile
Abstract
We demonstrate variation in the extent to which firms benefit from their affiliation with Chilean business groups in the 1988-1996 period. The net benefits of unrelated diversification are positive if group diversification exceeds a threshold level, though this threshold increases with time. We find evidence of non-diversification related group benefits, which atrophy over time. We conjecture that the evolution of institutional context alters...
Paper Details
Title
The Future of Business Groups in Emerging Markets: Long Run Evidence from Chile
Published Date
Jan 1, 1999
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