Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
958570 | Journal of Empirical Finance | 2010 | 13 Pages |
Abstract
This article studies the impact of group affiliation on the performance of firms in India during 1996–2001, with the goal of determining whether the positive valuation effects of group affiliation depend on the degree of group diversification. The results from this study indicate that prior support for that hypothesis actually is fragile and highly influenced by extreme outliers. The authors also provide preliminary evidence for the hypothesis that group affiliation is particularly beneficial for firms that suffer financial constraints.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Robert Lensink, Remco van der Molen,