공정위 대기업집단 계열사 수 발표의 타당성에 대한 고찰

초록

This study aims to empirically show that there is a logical flaw in concluding that the increase in the number of affiliates of large business groups is simply an indiscriminate expansion and concentration of economic power. We examine 15 subsamples based on the number of affiliates. When sorting from a group with a large number of affiliates (Big) to a group with a small number of affiliates (Small), we find that the values of all diversification indices and the proportion of unrelated diversification do not monotonically decrease. Finally, profitability improved as the number of affiliates increased, but profitability worsened as the unrelated diversification index increased.

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