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Should business groups be dismantled? The equilibrium costs of efficient internal capital markets

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  • Almeida, Heitor
  • Wolfenzon, Daniel
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Financial Economics.

    Volume (Year): 79 (2006)
    Issue (Month): 1 (January)
    Pages: 99-144

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    Handle: RePEc:eee:jfinec:v:79:y:2006:i:1:p:99-144

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    Web page: http://www.elsevier.com/locate/inca/505576

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    Cited by:
    1. Bena, Jan & Ortiz-Molina, Hernán, 2013. "Pyramidal ownership and the creation of new firms," Journal of Financial Economics, Elsevier, Elsevier, vol. 108(3), pages 798-821.
    2. Pavel Sevcik, 2009. "Financial Frictions, Internal Capital Markets, and the Organization of Production," 2009 Meeting Papers, Society for Economic Dynamics 530, Society for Economic Dynamics.
    3. Stephen Haber & Enrico Perotti, 2008. "The Political Economy of Financial Systems," Tinbergen Institute Discussion Papers 08-045/2, Tinbergen Institute.
    4. Chinmay Pattnaik & James Chang & Hyun Shin, 2013. "Business groups and corporate transparency in emerging markets: Empirical evidence from India," Asia Pacific Journal of Management, Springer, vol. 30(4), pages 987-1004, December.
    5. Dietrich, Diemo & Hauck, Achim, 2014. "Bank capital regulation, loan contracts, and corporate investment," The Quarterly Review of Economics and Finance, Elsevier, Elsevier, vol. 54(2), pages 230-241.
    6. Manos, Ronny & Murinde, Victor & Green, Christopher J., 2012. "Dividend policy and business groups: Evidence from Indian firms," International Review of Economics & Finance, Elsevier, vol. 21(1), pages 42-56.
    7. Enrico Perotti, 2013. "The Political Economy of Finance," Tinbergen Institute Discussion Papers 13-034/IV/DSF53, Tinbergen Institute.
    8. Tarun Khanna & Yishay Yafeh, 2007. "Business Groups in Emerging Markets: Paragons or Parasites?," Journal of Economic Literature, American Economic Association, vol. 45(2), pages 331-372, June.
    9. Wandel, Jürgen, 2011. "Integrierte Strukturen im Agrar- und Ernährungssektor Russlands: Entstehungsgründe, Funktionsweise, Entwicklungsperspektiven und volkswirtschaftliche Auswirkungen. Band I und II," Studies on the Agricultural and Food Sector in Central and Eastern Europe, Leib­niz Institute of Agricultural Development in Central and Eastern Europe (IAMO), volume 63, number 63.
    10. Becker Bo & Sivadasan Jagadeesh, 2010. "The Effect of Financial Development on the Investment-Cash Flow Relationship: Cross-Country Evidence from Europe," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-49, May.
    11. Stephen Haber & Enrico Perotti, 2008. "The Political Economy of Financial Systems," Tinbergen Institute Discussion Papers 08-045/2, Tinbergen Institute.
    12. Paligorova, Teodora & Xu, Zhaoxia, 2012. "Complex ownership and capital structure," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 701-716.
    13. Byun, Hae-Young & Choi, Sunhwa & Hwang, Lee-Seok & Kim, Robert G., 2013. "Business group affiliation, ownership structure, and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 23(C), pages 311-331.
    14. Randall Morck & M. Deniz Yavuz & Bernard Yeung, 2013. "State-controlled Banks and the Effectiveness of Monetary Policy," NBER Working Papers 19004, National Bureau of Economic Research, Inc.
    15. Randall Morck & M. Deniz Yavuz & Bernard Yeung, 2009. "Banking System Control, Capital Allocation, and Economy Performance," NBER Working Papers 15575, National Bureau of Economic Research, Inc.
    16. Randall Morck, 2009. "The Riddle of the Great Pyramids," NBER Working Papers 14858, National Bureau of Economic Research, Inc.

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