Crisis and Diversification of Entrepreneur Groups at the End of the Nineties

Abstract:     
The article studies the relation between the 1997 crisis and the diversification of the 5 main business groups in Colombia. The entropy measure of diversification did not fall during the crisis, which agrees with the risk-sharing hypothesis of business groups. Diversification fell after the crisis but this did not lead to the disappearance of business groups in Colombia.

Note: Downloadable document in Spanish.

Number of Pages in PDF File: 23

Keywords: Business Groups, Conglomerates, Financial Crises, Diversification, Corporate Governance

JEL Classification: G01, G32, G34, L16, L25

working papers series