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Citations for "Do Conglomerate Firms Allocate Resources Inefficiently?"

by Gordon M Phillips & Vojislav Maksimovic

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  1. Jeremy C. Stein, 2001. "Agency, Information and Corporate Investment," NBER Working Papers 8342, National Bureau of Economic Research, Inc.
  2. GAUTIER, Axel & HAMADI, Malika, 2004. "Internal capital market efficiency of Belgian holding companies," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2004086, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Berg, Aron & Norbäck, Pehr-Johan & Persson, Lars, 2012. "International Mergers with Financially Constrained Owners," Working Paper Series, Research Institute of Industrial Economics 927, Research Institute of Industrial Economics.
  4. Jose Manuel Campa & Simi Kedia, 2002. "Explaining the Diversification Discount," Journal of Finance, American Finance Association, American Finance Association, vol. 57(4), pages 1731-1762, 08.
  5. Luc Laeven & Martin R. Goetz & Ross Levine, 2012. "The Valuation Effects of Geographic Diversification," IMF Working Papers 12/50, International Monetary Fund.
  6. Stanley C. W. Salvary, 2004. "The Neoclassical Model, Corporate Retained Earnings, And The Regional Flows Of Financial Capital," Urban/Regional, EconWPA 0410007, EconWPA.
  7. Toxvaerd, Flavio, 2007. "Strategic Merger Waves: A Theory of Musical Chairs," CEPR Discussion Papers, C.E.P.R. Discussion Papers 6159, C.E.P.R. Discussion Papers.
  8. Glaser, Markus & Lopez-de-Silanes, Florencio & Sautner, Zacharias, 2010. "Opening the Black Box: Internal Capital Markets and Managerial Power," MPRA Paper 28488, University Library of Munich, Germany.
  9. Xavier Boutin & Giacinta Cestone & Chiara Fumagalli & Giovanni Pica & Nicolas Serrano-Velarde, 2009. "The Deep-Pocket Effect of Internal Capital Markets," 2009 Meeting Papers, Society for Economic Dynamics 1070, Society for Economic Dynamics.
  10. Viral V. Acharya & Iftekhar Hasan & Anthony Saunders, 2002. "The effects of focus and diversification on bank risk and return: evidence from individual bank loan portfolios," Proceedings, Federal Reserve Bank of Chicago 905, Federal Reserve Bank of Chicago.
  11. Frederik P. Schlingemann & Rene M. Stulz & Ralph A. Walkling, 2000. "Asset Liquidity and Segment Divestitures," NBER Working Papers 7873, National Bureau of Economic Research, Inc.
  12. Iftekhar Hasan & Anthony Saunders & Viral V. Acharya, 2002. "Should banks be diversified? Evidence from individual bank loan portfolios," BIS Working Papers 118, Bank for International Settlements.
  13. Peter G. Klein, 1997. "Were the Acquisitive Conglomerates Inefficient?," Industrial Organization, EconWPA 9711001, EconWPA, revised 04 Feb 2002.
  14. Axel Gautier & Florian Heider, 2001. "What do internal capital markets do?: redistribution vs. incentives," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 25062, London School of Economics and Political Science, LSE Library.
  15. Bernardo, Antonio E & Luo, Jiang & Wang, James J.D., 2005. "A Theory of Socialistic Internal Capital Markets," University of California at Los Angeles, Anderson Graduate School of Management, Anderson Graduate School of Management, UCLA qt29x1966g, Anderson Graduate School of Management, UCLA.
  16. Alain Praet, 2011. "Voluntary firm restructuring: why do firms sell or liquidate their subsidiaries?," Annals of Finance, Springer, Springer, vol. 7(4), pages 449-476, November.
  17. Brusco, Sandro & Panunzi, Fausto, 2000. "Reallocation of Corporate Resources and Managerial Incentives in Internal Capital Markets," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2532, C.E.P.R. Discussion Papers.
  18. Laeven, Luc & Levine, Ross, 2007. "Is there a diversification discount in financial conglomerates?," Journal of Financial Economics, Elsevier, Elsevier, vol. 85(2), pages 331-367, August.
  19. Whited, Toni M., 2006. "External finance constraints and the intertemporal pattern of intermittent investment," Journal of Financial Economics, Elsevier, Elsevier, vol. 81(3), pages 467-502, September.
  20. Missaka Warusawitharana, 2007. "Corporate asset purchases and sales: theory and evidence," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2007-27, Board of Governors of the Federal Reserve System (U.S.).
  21. Campa, Jose M. & Chang, Kevin & Refalo, James F., 2000. "Options-based analysis of emerging market exchange rate expectations: Brazil's real plan, 1994-1999, An," IESE Research Papers, IESE Business School D/425, IESE Business School.
  22. Axel Gautier & Florian Heider, 2002. "The Benefit and Cost of Winner Picking: Redistribution Vs Incentives," Bonn Econ Discussion Papers, University of Bonn, Germany bgse31_2002, University of Bonn, Germany.
  23. Eberl, Stephan, 2008. "Licht und Schatten zentralisierter Kapitalallokation: die Wirkung Interner Kapitalmärkte auf den Unternehmenswert," Hohenheimer Schriften: Rechnungswesen - Steuern - Wirtschaftsprüfung 2008,1, University of Hohenheim, Department of Business Administration.
  24. Laeven, Luc, 2001. "International evidence on the value of product and geographic diversity," Policy Research Working Paper Series 2729, The World Bank.
  25. Ayyagari, Meghana & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2011. "Small vs. young firms across the world : contribution to employment, job creation, and growth," Policy Research Working Paper Series 5631, The World Bank.
  26. Giacomo Rodano & Emanuele Tarantino & Nicolas Serrano-Velarde, 2012. "Bankruptcy Law and the Cost of Banking Finance," Working Papers, Oxford University Centre for Business Taxation 1218, Oxford University Centre for Business Taxation.
  27. Gomes, Joao F & Livdan, Dmitry, 2002. "The Performance of Optimally Diversified Firms: Reconciling Theory and Evidence," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3546, C.E.P.R. Discussion Papers.
  28. Marinelli, Federico, 2008. "Persistence of outstanding performance and shareholder value among diversified firms: The impact of past performance, efficient internal capital market, and relatedness of business segments," IESE Research Papers, IESE Business School D/758, IESE Business School.
  29. Campa, Jose M. & Hernando, Ignacio, 2002. "Value creation in European M&As," IESE Research Papers, IESE Business School D/471, IESE Business School.
  30. Belen Villalonga, 2001. "Diversification Discount or Premium? New Evidence from BITS Establishment-Level Data," Working Papers, Center for Economic Studies, U.S. Census Bureau 01-13, Center for Economic Studies, U.S. Census Bureau.
  31. William H. Greene & Abigail S. Hornstein & Lawrence J. White & Bernard Yeung, 2006. "Multinationals Do It Better: Evidence on the Efficiency of Corporations’ Capital Budgeting," Wesleyan Economics Working Papers, Wesleyan University, Department of Economics 2006-012, Wesleyan University, Department of Economics.
  32. Lamont, Owen A. & Polk, Christopher, 2002. "Does diversification destroy value? Evidence from the industry shocks," Journal of Financial Economics, Elsevier, Elsevier, vol. 63(1), pages 51-77, January.
  33. Gomes, Joao F & Livdan, Dmitry, 2002. "Optimal Diversification," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3461, C.E.P.R. Discussion Papers.
  34. Sheng-Syan Chen & I-Ju Chen, 2011. "Inefficient Investment and the Diversification Discount: Evidence from Corporate Asset Purchases," Journal of Business Finance & Accounting, Wiley Blackwell, Wiley Blackwell, vol. 38(7-8), pages 887-914, 09.
  35. Donald S. Siegel & Kenneth L. Simons & Tomas Lindstrom, 2009. "Ownership Change, Productivity, and Human Capital: New Evidence from Matched Employer-Employee Data," NBER Chapters, in: Producer Dynamics: New Evidence from Micro Data, pages 397-442 National Bureau of Economic Research, Inc.
  36. Bardong, Florian & Bartram, Söhnke M. & Yadav, Pradeep K., 2006. "The Effect of Corporate Break-ups on Information Asymmetry: A Market Microstructure Analysis," MPRA Paper 13155, University Library of Munich, Germany, revised 26 Oct 2008.
  37. Thorsten Koeppl & James MacGee, 2005. "What Banks Do and Markets Don't: Cross-subsidization," Working Papers, Queen's University, Department of Economics 1052, Queen's University, Department of Economics.
  38. José Manuel Campa & Ignacio Hernando, 2002. "Value creation in European M&As," Banco de Espa�a Working Papers 0223, Banco de Espa�a.
  39. Ferris, Stephen P. & Kim, Kenneth A. & Kitsabunnarat, Pattanaporn, 2003. "The costs (and benefits?) of diversified business groups: The case of Korean chaebols," Journal of Banking & Finance, Elsevier, Elsevier, vol. 27(2), pages 251-273, February.
  40. Anjos, Fernando, 2010. "Costly refocusing, the diversification discount, and the pervasiveness of diversified firms," Journal of Corporate Finance, Elsevier, Elsevier, vol. 16(3), pages 276-287, June.
  41. Florencio Lopez-de-Silanes & Ludovic Phalippou & Oliver Gottschalg, 2011. "Giants at the Gate: On the Cross-Section of Private Equity Investment Returns," Tinbergen Institute Discussion Papers 11-035/2/DSF12, Tinbergen Institute.
  42. Villalonga, Belen, 2000. "Does Diversification Cause the “Diversification Discount�," University of California at Los Angeles, Anderson Graduate School of Management, Anderson Graduate School of Management, UCLA qt40v212gm, Anderson Graduate School of Management, UCLA.
  43. Lee, Keun & Kim, Ji Youn & Lee, Oonkyu, 2010. "Long-term evolution of the firm value and behavior of business groups: Korean chaebols between weak premium, strong discount, and strong premium," Journal of the Japanese and International Economies, Elsevier, vol. 24(3), pages 412-440, September.