Family Business Groups around the World: Financing Advantages, Control Motivations and Organizational Choices

By Ronald W. Masulis, Peter K. Pham, Jason Zein. 2011

466 citations recorded by the source corpus.

Subfields: Accounting, Organizational Behavior and Human Resource Management

View Paper: https://www.semanticscholar.org/paper/2a89d0de376f8fcf19ecf71a5de3d7b88066362f

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In Organizational Behavior and Human Resource Management

Citations in the corpus

Shareholder Wealth Consequences of Insider Pledging of Company Stock as Collateral for Personal Loans (2019, methodology): “Lastly, we merge our sample to the data from Masulis, Pham, and Zein (2011) which contain manually collected information on shareholder affiliations among Taiwanese firms.”
Large Foreign Ownership and Firm-Level Stock Return Volatility in Emerging Markets (2011, unknown): “Similar to Masulis, Pham, and Zein (2011), we measure the extent to which a sample firm is pyramidcontrolled as the number of layers (i.e., other listed firms) separating the firm from its ultimate controlling owner, and use this as our 2nd instrument.”
The Global Financial Crisis, Family Control, and Dividend Policy: The Global Financial Crisis, Family Control, and Dividend Policy (2016, unknown): “This result lends support to Masulis, Pham, and Zein (2011), who show that family firms use their resources more efficiently under normal business conditions.”
Business group affiliation, ownership structure, and the cost of debt (2013, background): “For example, many studies have shown that much of the cross-country ownership differences and group structures can be explained by country-level factors such as legal institutions and capital availabilities (La Porta et al., 1999; Masulis et al., 2011).”
The Internal Capital Markets of Business Groups: Evidence from Intra-Group Loans (2014, unknown): “More generally, recent research suggests that the financing advantage of business groups outweighs tunneling problems (Masulis, Pham, and Zein (2011)), and thus the debate about the advantages and disadvantages of business groups remains open.”
Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis (2014, unknown): “In contrast, recent papers point out that some of the ﬁ ndings of this previous literature can be explained by selection of particular types of ﬁ rms into pyramidal business groups, and may not be due to tunneling (see, e.g., Almeida et al. (2011) and Masulis, Pham and Zein (2011)).”