Download Business Groups in East Asia: Financial Crisis, by Sea-Jin Chang PDF

By Sea-Jin Chang

The 1997 Asian quandary mostly affected Thailand, Indonesia, Malaysia, and Korea in addition to different East Asian international locations seriously depending on intra-regional alternate. Banks and different monetary associations fast develop into bancrupt, and seriously indebted commercial businesses went bankrupt. lots of those companies have been affiliated with the enterprise teams of this sector, but so much teams didn't instantly cave in, certainly they proved remarkably powerful, a few surviving or even prospering. This ebook examines those East Asian company teams and offers very important up to date information on their next restructuring following the Asian Crisis.

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Additional info for Business Groups in East Asia: Financial Crisis, Restructuring, and New Growth

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A broken tie occurred when an auto manufacturer and a supplier that had one or more transactions in period 1 ceased all transactions in period 2. 3 shows that broken ties (as measured by the ratio of broken ties) increased over time. 048 between 1993 and 1996. Auto manufacturers during this period were increasingly likely to break ties, although the rate of broken ties remained low. 3. 4 suggests that this propensity towards broken ties varied considerably by Wrm. Toyota was the least likely to break ties, while Isuzu, one of the more troubled Wrms, and one with a large foreign ownership stake, was more likely than others to break ties.

In the last column I examine dyads that involve Wrms and shareholders that are members of the same horizontal business group (here, I deWne horizontal business as a member of either the Mitsubishi, Mitsui, Sumitomo, Fuyo, Sanwa, or DKB group). Again, the rate of broken ties was lower than it was for the same period: only 17 percent of ties were broken. 2. 17 184 Japanese Business Groups 45 These tables are simple, and lack the controls of a multivariate analysis. They suggest, however, that when examining the dissolution of shareholding ties it is important to look not only at the rate of broken ties across all Wrms but also at how the rate diVers by Wrm category, and by Wrms themselves.

Sachs, J. ’, Manuscript 1998; ‘World Bank, IMF at Odds Over Asian Austerity—Some Economists Contend That Harsh Measures Could Worsen the Crisis’, Wall Street Journal, January 8, 1998. 26 Business Groups in East Asia 8. See the following for more information on the structural weaknesses of East Asian countries: IMF, IMF-Supported Programs in Indonesia, Korea and Thailand: A Preliminary Assessment, IMF, 1999; World Bank, East Asia: Road to Recovery, 1998; World Bank, East Asia: Recovery and Beyond, 2000.

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