Business Groups and Tunneling: Evidence from Private Securities Offerings by Korean Chaebols

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The Internal Capital Markets of Business Groups: Evidence from Intra-Group Loans (2014, unknown): “Tunneling has been shown in private placements of equity (Baek, Kang, and Lee, 2006), mergers and acquisitions (Bae, Kang, and Kim, 2002; Cheung, Rau, and Stouraitis, 2006), dilutive equity offerings (Atanasov, Black, Ciccotello, and Gyoshev, 2010), privatizations (Atanasov, 2005), dividend…”
Family Business Groups around the World: Financing Advantages, Control Motivations and Organizational Choices (2011, background): “For example, Bertrand et al. (2002), Bae et al. (2002), Baek et al. (2006), and Cheung, Rau and Stouraitis (2006) examine tunneling activities of business groups in India, Korea and Hong Kong by using various types of corporate events.”
Tunneling through intercorporate loans: The China experience☆ (2010, background): “…Dyck and Zingales, 2004; Nenova, 2003; and Atanasov, 2005); or from the market reaction to related-party transactions (Bae, Kang, and Kim, 2002; Baek, Kang, and Lee, 2006) or earnings (Bertrand, Mehta, and Mullainathan, 2002) within a commonly controlled business group; or from the relative…”