Business Groups and Risk Sharing around the World

By Tarun Khanna, Yishay Yafeh. 2001

637 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/3e6b36166d0fe356e206eeb49067eaf5e90b9933

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Citations in the corpus

The Adolescence of Family Firm Research (2012, positive): “These groups are sometimes viewed as quasi-capital markets that can share risk (Khanna & Yafeh, 2005) and allocate credit to affiliated firms (Almeida & Wolfenzon, 2006).”
Large Shareholder Diversification and Corporate Risk-Taking (2010, background): “Limited empirical evidence that at least some large shareholders are well diversified is found in the literature on business groups (Bertrand, Johnson, Samphantharak and Schoar, 2008, Bertrand, Metha and Mullainathan, 2002, Faccio, Lang and Young, 2001, Khanna and Yafeh, 2005, Morck, 2005).”
Innovation and Family Ownership: Empirical Evidence from India (2014, background): “Unlike conglomerates, family group firms often share structural features across firms (Khanna & Yafeh, 2005) that affect innovation.”
How do corporate governance model differences affect foreign direct investment in emerging economies? (2009, background): “For instance, member firms of Taiwanese business groups are known to cross-subsidize one another in order to maintain stable performance in turbulent times (Khanna & Yafeh, 2005).”
Corporate Governance Research on Listed Firms in China: Institutions, Governance and Accountability (2016, background): “Past research finds that East Asian group firms exhibit low transparency and use related-party transactions among member firms within the corporate group to smooth individual firms’ earnings [Fan and Wong, 2002, Khanna and Yafeh, 2005].”
Institutions matter, but which ones? (2005, positive): “With a new data set on business groups in 15 emerging markets, Khanna and Yafeh (2000) examine this, and find that while there is some corroborative evidence for this in Brazil, Korea, Taiwan and Thailand, this kind of co-insurance is not generally significant or adequate in the larger set of…”
Business group affiliation, ownership structure, and the cost of debt (2013, background): “With respect to debt financing, a particularly important feature of business groups is that they enablemember firms to share risks by smoothing out income flows and reallocating resources (Ferris et al., 2003; Khanna and Yafeh, 2005, 2007).”
Ownership of Corporations (2016, background): “For example, families often have more conservative strategies (Chrisman & Patel, 2012), while BG shareholders, thanks to their larger pool of resources, can enter new markets and bear more risk (e.g., Khanna & Yafeh, 2005).”
What determines the scope of the firm over time and around the world? An Asia Pacific perspective (2007, background): “Their findings thus add more weight to the recent global findings by Khanna and Yafeh (2005) .”
The Effects of Focus versus Diversification on Bank Performance: Evidence from Chinese Banks (2010, background): “(Pulley and Humphrey (1993), McKillop et al. (1996)) and bank revenue scope economies (Berger et al.”
Indian business groups: Evolution and transformation (2007, background): “Despite the fact that conclusions from empirical works on diversification–performance linkage have been mixed ( Khanna & Yafeh, 2005; Lee, Peng, & Lee, 2007), scholars have observed that in the pre-reform era, BGs have been successful in adding business value.”