A Reexamination of Tunneling and Business Groups: New Data and New Methods

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Beyond institutional voids: Business groups, incomplete markets, and organizational form (2015, background): “…(Carney, 2008; Colpan, Hikino, and Lincoln, 2010; Khanna and Palepu, 1999; Kim, Kim, and Hoskisson, 2010; Ramaswamy, Li, and Petitt, 2012; Siegel and Choudhury, 2012), coupled with the presence of business groups in some of the advanced economies of the world with well-developed markets…”
The Internal Capital Markets of Business Groups: Evidence from Intra-Group Loans (2014, unknown): “…(2002) show that Indian groups channel resources away from firms in which the controlling shareholder has low cash flow rights toward firms in which he has high cash flow rights, although Siegel and Choudhury (2012) question the robustness of their result using the same data set of Indian firms.”
Firm performance, corporate governance and executive compensation in Pakistan (2018, background): “Similarly, behaviour of business group firms is known to be different from their counterparts (Siegel and Choudhury 2012).”
Do Debt Contract Enforcement Costs Affect Financing and Asset Structure (2014, unknown): “Importantly, as discussed in Siegel and Choudhury (2012), the Prowess database earlier had an explicit survivorship bias.”