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The Evolution of Ownership Structures: Privatization, Business Groups, and Pyramids

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dc.contributor.gruplacGrupo de Investigaciones. Facultad de Economía. Universidad del Rosariospa
dc.creatorAldunate, Felipe
dc.creatorGonzález, Felipe
dc.creatorPrem, Mounu
dc.creatorUrzúa I., Francisco
dc.date.accessioned2019-07-26T20:37:13Z
dc.date.available2019-07-26T20:37:13Z
dc.date.created2019-07-25
dc.date.issued2019
dc.description.abstractWhat is the contribution of privatization to the formation of business groups and pyramids? We use new data to study how Pinochet’s privatizations in Chile (1973-1990) affected the evolution of ownership structures. Using non-privatized firms in the same industry as comparison, and accounting for pre-privatization characteristics, we find that privatized firms were more likely to become part of business groups, began to act as providers of credit within groups, and pyramidal ownership structures were built on top of them. As most privatized firms became part of new (instead of traditional) business groups we argue that this privatization reform facilitated the renovation of elites and contributed to the formation of contemporaneous business groups.eng
dc.format.extent37spa
dc.format.mimetypeapplication/pdf
dc.format.mimetypetext/html
dc.identifier.doihttps://doi.org/10.48713/10336_20004
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/20004
dc.language.isoengspa
dc.relation.citationTitleSerie Documentos de trabajo. Economía
dc.relation.urihttps://ideas.repec.org/p/col/000092/017348.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto Completo)spa
dc.source.instnameinstname:Universidad del Rosario
dc.source.reponamereponame:Repositorio Institucional EdocUR
dc.subjectGrupos empresarialesspa
dc.subjectPrivatizaciónspa
dc.subjectPropiedadspa
dc.subject.ddcProducciónspa
dc.subject.jelG32spa
dc.subject.jelL33spa
dc.subject.keywordBusiness groupsspa
dc.subject.keywordPrivatizationspa
dc.subject.keywordOwnershipspa
dc.subject.lembGrupos empresarialesspa
dc.subject.lembPrivatizaciónspa
dc.titleThe Evolution of Ownership Structures: Privatization, Business Groups, and Pyramidsspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaDocumento de trabajospa
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