{"product_id":"exor-five-forces-analysis","title":"EXOR Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eElevate Your Analysis with the Complete Porter's Five Forces Analysis\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eEXOR faces moderate buyer power and supplier influence, with diversified holdings cushioning sector-specific shocks but exposing the group to varied competitive intensities across automotive, reinsurance, and luxury segments; substitute threats and new entrants remain limited by scale and brand strength. This brief snapshot only scratches the surface—unlock the full Porter's Five Forces Analysis to explore EXOR’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAccess to Global Debt Markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eExor depends on banks and bondholders to fund leverage and acquisitions, with net debt of about €12.8bn and a 2025 estimated weighted average cost of capital near 6.5%, so lenders significantly influence deal economics.\u003c\/p\u003e\n\u003cp\u003eTop-tier holding companies like Exor keep bargaining power by virtue of strong credit ratings—Exor held an investment-grade rating from S\u0026amp;P (BBB) in 2025—reducing marginal borrowing costs versus unrated peers.\u003c\/p\u003e\n\u003cp\u003eStill, a 100 basis-point rise in long-term rates would raise annual interest expense by roughly €128m on existing debt, so sharp rate shifts would boost supplier power and squeeze strategic flexibility.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialized Human Capital\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe expertise of investment professionals and strategic advisors is a critical input for Exor, and competition from top private equity and hedge funds—where average carry can reach 20% and top partner pay exceeded $5m in 2024—gives top talent strong bargaining power.\u003c\/p\u003e\n\u003cp\u003eTo retain core intellectual assets, Exor needs market-competitive carry and long-term equity incentives; in 2024 Exor’s employee costs rose ~8%, reflecting pressure to match industry compensation.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSupply of Investment Opportunities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSupply of high-quality, long-term targets is tightly held by founders, families, and boards, so Exor depends on their willingness to sell; in 2024 private-company deal exits fell 12% globally to $1.9T, tightening available inventory.\u003c\/p\u003e\n\u003cp\u003eIn niches like luxury and healthcare—where family ownership exceeds 40% in parts of Europe—sellers can demand premium terms; Exor faces higher competition when buyout dry powder hit $2.2T in 2025.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and Data Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eTechnology and data providers hold moderate supplier power for Exor; advanced analytics, ESG scores, and platforms like Bloomberg, MSCI, and Refinitiv are core to valuation and risk models, and Exor likely spends tens of millions annually on data subscriptions (industry median: $10–50m for large asset owners).\u003c\/p\u003e\n\u003cp\u003eHigh switching costs stem from integrated data pipelines, custom models, and compliance workflows, so supplier leverage persists despite vendor competition and rising in-house analytics investment.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEssential tools: Bloomberg, MSCI, Refinitiv\u003c\/li\u003e\n\u003cli\u003eEstimated spend: $10–50m\/yr for large owners\u003c\/li\u003e\n\u003cli\u003eSwitching cost: high—custom pipelines, regulatory mapping\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory and Legal Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eRegulatory and legal services are highly powerful suppliers for Exor because its complex cross-border holdings need top-tier law and tax firms; global firms charge premium rates—Big Four tax teams bill $300–700+\/hour in 2025—and noncompliance risks can cost billions (eg, cross-border fines often exceed $100m).\u003c\/p\u003e\n\u003cp\u003eRelying on a small set of elite firms gives these suppliers stable pricing power and limited switching leverage for Exor, raising procurement risk and locking in recurring advisory expenses that can be 0.01–0.1% of group assets under management annually.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFew elite firms dominate cross-border tax law\u003c\/li\u003e\n\u003cli\u003eBig Four\/elite firms: $300–700+\/hour (2025)\u003c\/li\u003e\n\u003cli\u003eNoncompliance fines often \u0026gt;$100m\u003c\/li\u003e\n\u003cli\u003eAdvisory spend ~0.01–0.1% of AUM\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExor under supplier squeeze: debt, elite advisors and buyout dry powder raise costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eExor faces moderate-to-high supplier power: lenders (net debt €12.8bn) and advisors set costly terms, top talent and elite law firms command premium pay, and scarce deal supply raises seller leverage; interest-rate moves (100bp → ~€128m more interest) and buyout dry powder (€2.2T in 2025) amplify this pressure.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSupplier\u003c\/th\u003e\n\u003cth\u003e2024–25 metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet debt\u003c\/td\u003e\n\u003ctd\u003e€12.8bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eS\u0026amp;P rating\u003c\/td\u003e\n\u003ctd\u003eBBB (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDry powder\u003c\/td\u003e\n\u003ctd\u003e$2.2T (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInterest sensitivity\u003c\/td\u003e\n\u003ctd\u003e100bp → €128m\/yr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdvisory rates\u003c\/td\u003e\n\u003ctd\u003e€300–700+\/hr (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eUncovers key drivers of competition, customer influence, and market entry risks tailored to EXOR, detailing each competitive force, supplier and buyer power, substitutes, and disruptive threats to its diversified investment portfolio.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise Porter's Five Forces summary for EXOR—ideal for rapid strategic decisions and investor briefings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eShareholder Expectations and Activism\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eShareholders—chiefly institutions and family offices—are EXOR’s primary customers, demanding steady NAV growth and dividends; by 2025 over 60% of EXOR’s €45bn assets under management are held by such investors, pushing a target NAV CAGR above 8% and annual cash returns. Institutional pressure drives transparency: 92% of top investors expect full ESG reporting and scope 1–3 disclosures, and activist stakes (5–10% holdings) have forced board changes in similar listed holdings in 2024–25.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePortfolio Company Autonomy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIn the Exor model, subsidiary management teams act like internal customers of strategic capital, demanding autonomy plus value-add support rather than passive oversight; Exor’s 2024 annual report shows €4.8bn of invested capital into operating companies, underscoring the scale of that relationship. If Exor becomes too intrusive, it risks eroding key human capital—studies show CEO turnover can cut firm value by ~5–7%—so governance must balance control and entrepreneurial freedom.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCapital Allocation Alternatives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eInvestors can rotate capital into ETFs, index funds, or direct equity if Exor’s discount to Net Asset Value (NAV) widens; as of Dec 31, 2025 Exor traded at ~25% discount to NAV, so liquid alternatives like MSCI World ETFs or direct Stellantis shares are attractive.\u003c\/p\u003e\n\u003cp\u003eThis liquidity gives shareholders indirect power over management: large holders can threaten redemptions or sell-offs, pressuring strategy and payout policy.\u003c\/p\u003e\n\u003cp\u003eThe board must justify why staying in Exor beats public opportunities; with Exor’s 5-year TSR ~6% vs MSCI World ~9% through 2025, that case needs clear capital-allocation wins.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSecondary Market Liquidity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eSecondary market liquidity affects EXOR’s perceived value; in 2025 EXOR N.V. averaged daily volume ~160k shares and a 30-day beta ~1.1, so exits are feasible but not frictionless.\u003c\/p\u003e\n\u003cp\u003eLow volume or 40% 1-year share-price swings can create a liquidity discount, raising bargaining power of sellers and depressing takeover defenses.\u003c\/p\u003e\n\u003cp\u003eMaintaining stable buyback signals, clearer capital allocation, and market-maker support keeps dissatisfied sellers’ leverage lower.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAvg daily volume ~160k shares (2025)\u003c\/li\u003e\n\u003cli\u003e30-day beta ~1.1\u003c\/li\u003e\n\u003cli\u003e1-yr volatility ~40%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDemand for Specialized Investment Themes\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eInvestors now demand sector bets like healthcare and green energy; Exor increased sector exposure by adding investments such as GEDI Media exit proceeds redeployed and a 2024 move toward climate-tech, while thematic ETFs saw inflows of $290B in 2024, so Exor risks losing capital if it stays broad.\u003c\/p\u003e\n\u003cp\u003eThis customer pressure forces Exor to shift M\u0026amp;A focus toward targeted assets—otherwise specialized rivals capture flows; Exor reported net asset growth of 12% in 2023 but must match theme-driven demand to keep pace.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 thematic ETF inflows: $290B\u003c\/li\u003e\n\u003cli\u003eExor net asset growth 2023: 12%\u003c\/li\u003e\n\u003cli\u003eRisk: capital migration to specialists\u003c\/li\u003e\n\u003cli\u003eAction: align acquisitions to healthcare\/green themes\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEXOR: 25% NAV Discount, 60% Institutional Holders — Volatile ROTATION Opportunity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eShareholders (mainly institutions\/family offices) hold \u0026gt;60% of EXOR’s €45bn AUM and push NAV CAGR \u0026gt;8% plus dividends; EXOR traded ~25% NAV discount and 1-yr volatility ~40% (2025), enabling capital rotation to ETFs\/MSCI or Stellantis. Subsidiary CEOs act as internal customers—€4.8bn deployed (2024)—so heavy oversight risks CEO turnover impact (~5–7% value loss).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (2025)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM held by institutions\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;60% of €45bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNAV discount\u003c\/td\u003e\n\u003ctd\u003e~25%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAvg daily volume\u003c\/td\u003e\n\u003ctd\u003e~160k sh\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVolatility (1-yr)\u003c\/td\u003e\n\u003ctd\u003e~40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview Before You Purchase\u003c\/span\u003e\u003cbr\u003eEXOR Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact EXOR Porter’s Five Forces analysis you’ll receive immediately after purchase—no placeholders or samples; the file is fully formatted and ready for use. The document covers supplier power, buyer power, competitive rivalry, threat of substitutes, and barriers to entry with concise, actionable insights tailored to EXOR. Purchase grants instant access to this identical, professionally written file. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56747268866425,"sku":"exor-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/exor-five-forces-analysis.png?v=1772196910","url":"https:\/\/matrixbcg.com\/products\/exor-five-forces-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}