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Keywords: Group firm
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Journal Articles
Journal:
Managerial Finance
Managerial Finance (2026) 52 (5): 852–871.
Published: 29 September 2025
...-taking behavior. The inverse relationship holds for both business group-affiliated and standalone firms, with a stronger effect observed in stand-alone firms. While the impact is modest in group firms, ESG remains a significant governance tool, especially in complex structures. Our instrumental variable...
