Fundamentals of divestiture as a restructuring method : case study of LG demergers in terms of shareholders value and corporate governance in the context of Korean practice
Name
53982164-MIT.pdf
Description
Full printable version
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5.46 MB
Format
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Checksum (MD5)
1c661bf3ec5d0324a4aa75cf85485124
Author(s)
Yang, Kisuk, 1962-
Advisor(s)
Arnoldo C. Hax.
Date Issued
2003
Publisher
Massachusetts Institute of Technology
Abstract
This thesis is to generally review the practices and cases in the global capital market places in regard to the divestitures as one of the corporate restructuring instruments and to confirm the generally acceptable hypothesis that the most of breakup cases driven by the strategic purpose of "focus and concentration" would be justified by the enhancement of shareholders value. And the discussion expands to the divestitures in Korea introduced in late 1990s, which prevailed and practiced widely in the market ever since, but in some cases, it was combined with formation of the holding company structure in accordance to the Monopoly Regulation and Fair Trade Act making the issue complicated one in regard to the reform and restructuring of major conglomerates, the "Chaebol" in Korea. The LG demerger cases were right in the center of the discussions, and this thesis is to address four hypotheses in regard to the background, key components, aftermaths, and the implication of the LG's transaction through which it would be assessed in terms of shareholders value and corporate governance in the context of Korean practice.
Description
Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2003.
Includes bibliographical references (leaves 79-82).
Subjects
Sloan School of Management.
MIT Department
Sloan School of Management
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