Business Groups Looted by Controlling Families, and the Asian Crisis
Nam, Sang-Woo | November 2001
Abstract
Why do the founding families of many East Asian companies hold on today-to-daymanagement Is there more going on than meets the eye?This paper uncovers the disturbing patterns of unfair internal transactions among subsidiaries to maximize the wealth of controlling families at the expense of individual corporate or group profits and minority shareholders.The author recommends that concerned governments should adopt as their primary policy focus the strengthening of corporate governance mechanisms and transparency so as to counter this abusive behavior by some controlling owners.
Citation
Nam, Sang-Woo. 2001. Business Groups Looted by Controlling Families, and the Asian Crisis. © Asian Development Bank Institute. http://hdl.handle.net/11540/4133. License: CC BY 3.0 IGO.Keywords
Regional Development Finance
Public Scrutiny of City Finances
Non-Bank Financial Institutions
Local Government Finance
Government Financial Institutions
Foreign and Domestic Financing
Financial Risk Management
Assessing Corporate Governance
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Citable URI
http://hdl.handle.net/11540/4133Metadata
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