Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/337213 
Authors: 
Year of Publication: 
2020
Citation: 
[Journal:] Journal of Derivatives and Quantitative Studies: Seonmul yeon'gu (JDQS) [ISSN:] 2713-6647 [Volume:] 28 [Issue:] 2 [Year:] 2020 [Pages:] 51-62
Publisher: 
Emerald, Leeds
Abstract: 
The purpose of this paper is to use China's World Trade Organization accession as a quasi-natural experiment and examine whether conglomeration affects firmss' ability to respond to a significant increase in competitive pressure. Conglomerate segments have higher sales growth and higher profitability than singlesegment firms, when they face intensified import competition. Conglomerates' outperformance is not observed when the markets in which segments operate already have high product market competition. Overall, conglomeration encourages competitiveness, and internal resources are allocated to relatively competitive segments.
Subjects: 
China's World Trade Organization accession
Conglomerates
Import competition
JEL: 
L22
L25
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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