Article

Business Groups in Chile

Fernando Lefort

in The Oxford Handbook of Business Groups

Published in print August 2010 | ISBN: 9780199552863
Published online September 2010 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199552863.003.0014

Series: Oxford Handbooks in Business and Management

 Business Groups in Chile

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Chilean business groups tend to be structured as a collection of listed and non-listed companies presenting highly concentrated ownership and hanging under a listed holding company. These characteristic pyramidal structures are used to obtain funding from minority shareholders without losing control. Many of the large companies affiliated to Chilean business groups have traded in a relatively developed capital market with a considerable participation of institutional investors since 1986. Most Chilean business groups are relatively young and are successfully run by the second or third generation of the founding families. However, in some cases, control has passed to teams of executives and to foreign companies. This article looks at the main features of Chilean business groups and tries to find some stylized factors that help in an understanding of their dynamic evolution.

Keywords: Chilean business groups; shareholders; capital market; institutional investors; dynamic evolution

Article.  11968 words. 

Subjects: Business and Management ; Organizational Theory and Behaviour ; International Business

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