The birth of Alphabet, Google's new holding company, prompted much talk of a conglomerate
not all jurisdictions have in place a specific supervision framework for financial conglomerates
or coordination agreements with other supervisors of financial conglomerates
on a cross-sectoral level.
Seven out of the top-100 conglomerates
saw a year-on-year growth in after-tax earnings in 2008, including Taiwan Cogeneration Group, Lee Chang Yung Group, Fubon Group, CTCI Group, Quanta Computer Group, Far Glory Group, and VIA Technologies Group.
I test two hypotheses in the article: first, when external capital is more costly at the aggregate level, the value of conglomerates
increases relative to the value of focused firms; and second, such value increase is greater for those conglomerates
that are more financially constrained in external capital markets.
Provided the right levers are pulled, all conglomerates
can produce above-average returns.
For instance, when a financial conglomerate
becomes aware that a corporate borrower of a bank under its umbrella has fallen into financial difficulties, the parent unit might have the borrower issue debentures through a securities firm, also under its umbrella, thus recovering the loaned money the affiliated bank has extended.
For ABC, CBS, CNN, and Fox, see "Mega-Media Conglomerates
Faced with the option of radically altering the way they do business or paying lawyers to try prevent that day from coming, the nation's media conglomerates
have chosen the latter.
But nothing is more distressing to the markets than concerns about its fundamental conglomerate
He recounts how ITT'S CEO Lyman Hamilton, successor to the legendary Harold Geneen, conceived of naming a sub-CEO to each of the large entities under ITT's umbrella, partly because he felt the company was becoming too vast for a single CEO to manage and partly to head off antitrust crusades by a federal government itching to restrain conglomerates
The mining conglomerate
owns stakes in Companhia Siderurgica Tubarao (CST), Brazil's No.
Chip-making divisions at the three conglomerates
have been hit hard by this year's information-technology slump and the global economic slowdown.