{"product_id":"financial-crisis-and-transformation-of-korean-business-groups-the-rise-and-fall-of-chaebols-hardback-9780521814355","title":"Financial Crisis and Transformation of Korean Business Groups; The Rise and Fall of Chaebols (Hardback) 9780521814355","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eFinancial Crisis and Transformation of Korean Business Groups\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eThe Rise and Fall of Chaebols\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis book explores the strategies chaebols, Korean business groups, have pursued, and assesses their performance.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eSea-Jin Chang (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521814355, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 28 April 2003\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e378 pages, 39 b\/w illus.  24 tables\u003cbr\u003e23.6 x 16 x 3 cm, 0.72 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'The strength of this book lies in its thorough examination and detailed analysis of the conglomerates' internal operations, their pre-1997 business performance, and the advantages and disadvantages of their growth strategies.' The Business Economist\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eSea-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.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e1. Introduction\u003cbr\u003e 2. The evolution of chaebols\u003cbr\u003e 3. Chaebols' diversified business structure\u003cbr\u003e 4. Vertical integration of chaebols\u003cbr\u003e 5. The capital structure of chaebols\u003cbr\u003e 6. Chaebols' ownership and governance structure\u003cbr\u003e 7. The restructuring of chaebols\u003cbr\u003e 8. Conclusion\u003cbr\u003e Appendices\u003cbr\u003e Notes\u003cbr\u003e References\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Business \u0026amp; management [\u003ca title=\"See our other books on Business \u0026amp; management\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Business%20\u0026amp;%20management%20%5BKJ%5D%22\"\u003eKJ\u003c\/a\u003e], Political economy [\u003ca title=\"See our other books on Political economy\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Political%20economy%20%5BKCP%5D%22\"\u003eKCP\u003c\/a\u003e], Economics [\u003ca title=\"See our other books on Economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economics%20%5BKC%5D%22\"\u003eKC\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46265141592344,"sku":"9780521814355","price":60.68,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521814355i.jpg?v=1692019867","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/financial-crisis-and-transformation-of-korean-business-groups-the-rise-and-fall-of-chaebols-hardback-9780521814355","provider":"Freshly Printed Books","version":"1.0","type":"link"}