Аннотация
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.
© 2009 Elsevier B.V.
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