On the Financial Efficiency and Control in Business Groups

2010 ◽  
Author(s):  
Jongsub Lee
Keyword(s):  
Business Groups ◽  
Financial Efficiency ◽  
And Control

Portugal

2018 ◽  
Author(s):  
Álvaro Ferreira da Silva ◽  
Pedro Neves
Keyword(s):  
Experimental Situation ◽  
Business Groups ◽  
Late Nineteenth Century ◽  
Control Rights ◽  
Control Structures ◽  
The Great Depression ◽  
Quasi Experimental ◽  
Institutional Contexts ◽  
And Control ◽  
Financial Groups

Business groups emerged in Portugal in the late nineteenth century amid nascent industrialization and revealing strong ties to colonial business. Economic nationalism, corporatism, and the decreasing importance of colonies nurtured different business groups in the aftermath of the Great Depression: increasingly diversified while oriented to the domestic market; inward-looking and with large capital shares in affiliate firms; internalizing corporate finance in intra-group capital flows. Everything changed dramatically in 1975, when large industrial and financial groups were nationalized. When they re-emerged twenty years later, they had metamorphosed into a different species: more focused, yet still with unrelated product portfolios; transmuted into multinationals active overseas; organized in pyramidal structures that magnify their control rights; and employed financing based on capital markets and intermediation. The quasi-experimental situation created by the 1975 nationalization emphasizes the importance of flexibility in adapting strategy and control structures to different economic and institutional contexts.

Risk capital financing and the separation of ownership and control in business groups

1989 ◽  
Vol 13 (4-5) ◽  
pp. 747-772 ◽  
Author(s):  
Francesco Brioschi ◽  
Luigi Buzzacchi ◽  
Massimo G. Colombo
Keyword(s):  
Business Groups ◽  
Risk Capital ◽  
Capital Financing ◽  
And Control

Structures and Functions of Holding Companies in Different Countries

2021 ◽  
pp. 41-57
Author(s):  
Pınar Avci
Keyword(s):  
Latin America ◽  
South Korea ◽  
Business Groups ◽  
English Word ◽  
Holding Companies ◽  
The World ◽  
And Control

The word “holding” is an English word. Some researchers state that this word derives from the root “hold” and means to hold management as “to hold and control,” while others state that it means to own a stock with the phrase “shareholder” or “to hold and control.” The word “holding” used by the countries of the world for business groups is expressed in different words by different countries. The following words are used: “holding” in Turkey, “chaebol” in South Korea, “keiretsu” in Japan, and “grupos economicos” in Latin America. At the same time, business groups are referred to as Qiye Jituan in China, Guanxi Qiye in Taiwan, Grupos in Spain, and Konzerne in Germany. In addition to these words mentioned, an American term “conglomerate” (holding) is sometimes stated in the alternative with business groups.

Supply Chain Process Efficiency (SCPE) and Firm's Financial Efficiency (FFE)

2016 ◽  
pp. 49-70
Author(s):  
Viqar Ali Baig ◽  
Javaid Akhtar
Keyword(s):  
Supply Chain ◽  
Process Efficiency ◽  
Financial Policy ◽  
Chain Process ◽  
Monitoring And Control ◽  
Financial Efficiency ◽  
Remedial Actions ◽  
Continuous Feedback ◽  
Supply Chain Process ◽  
And Control

The core object of this chapter is to develop efficiency measurement technique which links SC processes' efficiency (SCPE) to a firm's financial policy (FFP) through demonstrating and utilising the connection between SCPE and a firm's financial efficiency (FFE). The Dempster Shafer/Analytical Hierarchy Processes (DS/AHP) model is employed to link SCPE to the firm's financial efficiency through defining the relevant importance weights of SCPE measures regarding the preferences of FFE. The chapter also introduces a SC Financial Link Index (SCFLI) to examine the degree to which SCPE is linked to the FFE objectives. This index offers an effective supply chain management (SCM) tool to provide continuous feedback on SCPE and recognise the suitable employed remedial actions. Analysing this index offers opportunities for detailed evaluation of SCPE and empowers firms to trace SC processes that need improvement, causing in more control on daily SC operations. The proposed method permits the evaluation, monitoring, and control of SCPE to enhance SC policy for better alignment with the FFP. Linking SCPE to the FFP objectives empowers firms to gain competitive advantages and formulate strategies for improved SCM through linking such strategies to the focus area of improving the FFE.

scholarly journals What does the literature say about business groups and pyramidal ownership in the period of 1960-2018?

2019 ◽  
Author(s):  
Silvia Amélia Mendonça Flores ◽  
Wesley Vieira da Silva ◽  
Igor Bernardi Sonza
Keyword(s):  
Large Scale ◽  
Web Of Science ◽  
Social Role ◽  
Business Groups ◽  
Political Connections ◽  
The Political ◽  
Research Fields ◽  
The Social ◽  
Pyramidal Ownership ◽  
And Control

This paper aims to analyze the results of the research in pyramidal structures within the scope of the business groups, based on a systematic literature review. The research was conducted on two large-scale journals databases (Web of Science and Scopus), using VOSviewer, HistCite™, and Iramuteq software. The textual corpus is consisting of 65 articles and 137 authors and co-authors. Bae et al. (2002) and Almeida and Wolfenzon (2006) are the most influential for the research fields. We infer as a conceptual framework that searches in pyramidal structures are contained in the field of business groups since they represent a form of organization and representation of ownership and control. We identify as a theoretical gap the analysis of the political connections and the social role. Thus, the contributions are in the sense of presenting a panorama on the themes, supporting future researches.

scholarly journals Profit redistribution in family-controlled, group-affiliated publicly-listed corporations in Malaysia

2013 ◽  
Vol 10 (3) ◽  
pp. 142-163
Author(s):  
Sin-Huei Ng ◽  
Philip Shrives ◽  
Yeoh Ken Kyid
Keyword(s):  
Business Groups ◽  
Business Group ◽  
Family Ownership ◽  
Board Independence ◽  
Allocation Of Resources ◽  
And Control ◽  
Extensive Family

This paper attempts to examine the potential occurrence of profit redistribution in family-controlled business groups in Malaysia. It is argued that there exists a tendency for business groups with extensive family ownership and control to redistribute resources from group affiliates that outperformed to affiliates that underperformed. This phenomenon is prevalent particularly in large business groups where the link between business groups and politics is most clearly displayed. Such „propping up‟ activities are believed to adversely affect the shareholders of the outperforming affiliates as the performance of these affiliates diminishes due to the profit redistribution. They also result in inefficient allocation of resources within the business group, though it is found that higher board independence may reduce such inefficiency

scholarly journals What does the literature say about business groups and pyramidal ownership in the period of 1960-2018?

2019 ◽  
Author(s):  
Silvia Amélia Mendonça Flores ◽  
Wesley Vieira da Silva ◽  
Igor Bernardi Sonza
Keyword(s):  
Large Scale ◽  
Web Of Science ◽  
Social Role ◽  
Business Groups ◽  
Political Connections ◽  
The Political ◽  
Research Fields ◽  
The Social ◽  
Pyramidal Ownership ◽  
And Control

This paper aims to analyze the results of the research in pyramidal structures within the scope of the business groups, based on a systematic literature review. The research was conducted on two large-scale journals databases (Web of Science and Scopus), using VOSviewer, HistCite™, and Iramuteq software. The textual corpus is consisting of 65 articles and 137 authors and co-authors. Bae et al. (2002) and Almeida and Wolfenzon (2006) are the most influential for the research fields. We infer as a conceptual framework that searches in pyramidal structures are contained in the field of business groups since they represent a form of organization and representation of ownership and control. We identify as a theoretical gap the analysis of the political connections and the social role. Thus, the contributions are in the sense of presenting a panorama on the themes, supporting future researches.

Supply Chain Process Efficiency (SCPE) and Firm's Financial Efficiency (FFE)

2020 ◽  
pp. 651-672
Author(s):  
Viqar Ali Baig ◽  
Javaid Akhtar
Keyword(s):  
Supply Chain ◽  
Process Efficiency ◽  
Financial Policy ◽  
Chain Process ◽  
Monitoring And Control ◽  
Financial Efficiency ◽  
Remedial Actions ◽  
Continuous Feedback ◽  
Supply Chain Process ◽  
And Control

The core object of this chapter is to develop efficiency measurement technique which links SC processes' efficiency (SCPE) to a firm's financial policy (FFP) through demonstrating and utilising the connection between SCPE and a firm's financial efficiency (FFE). The Dempster Shafer/Analytical Hierarchy Processes (DS/AHP) model is employed to link SCPE to the firm's financial efficiency through defining the relevant importance weights of SCPE measures regarding the preferences of FFE. The chapter also introduces a SC Financial Link Index (SCFLI) to examine the degree to which SCPE is linked to the FFE objectives. This index offers an effective supply chain management (SCM) tool to provide continuous feedback on SCPE and recognise the suitable employed remedial actions. Analysing this index offers opportunities for detailed evaluation of SCPE and empowers firms to trace SC processes that need improvement, causing in more control on daily SC operations. The proposed method permits the evaluation, monitoring, and control of SCPE to enhance SC policy for better alignment with the FFP. Linking SCPE to the FFP objectives empowers firms to gain competitive advantages and formulate strategies for improved SCM through linking such strategies to the focus area of improving the FFE.

scholarly journals Pathways from Deglobalisation: Colombian Business Groups, 1950-1985

2020 ◽  
Vol 5 (2) ◽  
pp. 177-214
Author(s):  
Beatriz Elena Rodriguez-Satizabal
Keyword(s):  
Twentieth Century ◽  
Business Groups ◽  
Primary Sources ◽  
Historical Evolution ◽  
Unit Of Analysis ◽  
Secondary Literature ◽  
Track Record ◽  
Colombian Government ◽  
And Control ◽  
First Time

What are the characteristics of the Colombian business groups and how did they evolve between 1950 and 1985? How did the characteristics change during a period of deglobalisation? This paper provides a description of the Colombian business groups. It tracks the evolution of 25 groups since their consolidation in the 1950s, during a period of Industrialization by Substitution of Imports (ISI), until 1985, a year before the Colombian government considered for the first time trade liberalisation policies. By concentrating on descriptive variables such as size, ownership and control, foundation year, and diversification, this paper provides an overview of the consolidation, development and restructuring of the groups. The task implied answering the underlying questions of what and who the business groups are by relying extensively on secondary literature for the main concepts and primary sources, valued for their ‘first-handedness’, to illustrate and complement the arguments on their characteristics. Combining the analysis of the track record of 25 groups, this research places the business group as the unit of analysis, and also includes 428 group-affiliated firms. Despite their current importance and presence in the economy since the second half of the twentieth century, a profile of the largest Colombian business groups during this period has not yet been produced. Most of the variables used to characterise the groups are the ones set out by the literature, however, the paper also brings indexes to quantify the historical evolution of the characteristics.

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