Financial Crisis and Transformation of Korean Business Groups

Released on by Sea-Jin Chang
preview-18

  • Financial Crisis and Transformation of Korean Business Groups Book Detail

  • Author : Sea-Jin Chang
  • Release Date : 2003-04-28
  • Publisher : Cambridge University Press
  • Genre : Business & Economics
  • Pages : 380
  • ISBN 13 : 1139440071
  • File Size : 76,76 MB
DOWNLOAD BOOK

Financial Crisis and Transformation of Korean Business Groups by Sea-Jin Chang PDF Summary

Book Description: Sea-Jin Chang argues that the Korean financial crisis of 1997 was due to the inertia of both the business groups known as chaebols and the Korean government which prevented adaptation to changing external environments. Once the Korean government stopped central economic planning and pursued economic liberalization in the 1980s, the transition created a void under which neither the government nor markets could monitor chaebols' investment activities. The intricate web of cross-shareholding, debt guarantees, and vertical integration resulted in extensive cross-subsidization and kept chaebols from shedding unprofitable businesses. The government's continued interventions in banks' lending practices created 'moral hazards' for both chaebols and banks. This treatment demonstrates how the structure of chaebols later inhibited other adaptations and for all practical purposes became nearly dysfunctional. The book argues that restructuring of chaebols should focus on improving corporate governance systems. After such restructuring, the author predicts, chaebols will re-emerge as stronger, more focused global players.

Disclaimer: www.yourbookbest.com does not own Financial Crisis and Transformation of Korean Business Groups books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Sony vs Samsung

Sony vs Samsung

File Size : 81,81 MB
Total View : 2251 Views
DOWNLOAD

"Sony vs. Samsung is business history at its best! It explores the divergent fortunes of these two electronics giants in the last decade and identifies the true

Multinational Firms in China

Multinational Firms in China

File Size : 4,4 MB
Total View : 2893 Views
DOWNLOAD

Based on statistical and case study evidence, this book examines how multinational firms grew their operations in China and how successful local firms emerged f

Business Groups in East Asia

Business Groups in East Asia

File Size : 86,86 MB
Total View : 5137 Views
DOWNLOAD

'Business Groups in East Asia' examines some East Asian business groups and their subsequent restructuring following the Asian Crisis of 1997. This crisis affec

Multinational Firms in China

Multinational Firms in China

File Size : 27,27 MB
Total View : 3840 Views
DOWNLOAD

Sea-Jin Chang examines how multinational firms grew their operations in China and how successful local firms emerged from the restructuring process, as well the