Internal Capital Markets in Times of Crisis: The Benefit of Group Affiliation
[Real effects of the sovereign debt crisis in Europe: evidence from syndicated loans]
Citations
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Cited by:
- Li, Xinyu & Wang, Huacheng & Li, Rong, 2023. "A hidden channel of “blood transfusion”: Internal capital market subsidies and zombie firms," The British Accounting Review, Elsevier, vol. 55(6).
- Lóránth, Gyöngyi & Segura, Anatoli & Zeng, Jing, 2022.
"Common Deposit Insurance, Cross-Border Banks and Welfare,"
CEPR Discussion Papers
16893, Centre for Economic Policy Research.
- Gyöngyi Lóránth & Anatoli Segura & Jing Zeng, 2026. "Common Deposit Insurance, Cross-Border Banks and Welfare," ECONtribute Discussion Papers Series 422, University of Bonn and University of Cologne, Germany.
- Gyöngyi Loranth & Anatoli Segura & Jing Zeng, 2026. "Common Deposit Insurance, Cross-Border Banks and Welfare," CRC TR 224 Discussion Paper Series crctr224_2025_769, University of Bonn and University of Mannheim, Germany.
- Franklin Allen & Meijun Qian, 2025. "Alternative finance in the international business context: a review and future research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(1), pages 43-61, February.
- Fiordelisi, Franco & Fusi, Giulia & Maddaloni, Angela & Marqués-Ibáñez, David, 2022.
"Pandemic lending: micro and macro effects of model-based regulation,"
Working Paper Series
2760, European Central Bank.
- Fiordelisi, Franco & Fusi, Giulia & Maddaloni, Angela & Marqués Ibáñez, David, 2022. "Pandemic lending: Micro and macro effects of model-based regulation," SAFE Working Paper Series 374, Leibniz Institute for Financial Research SAFE.
- Giacomini, Emanuela & Kumar, Nitish & Naranjo, Andy, 2024. "Inter-firm relationships and the special role of common banks," Journal of Financial Intermediation, Elsevier, vol. 58(C).
- Capkun, Vedran & Grazioli, Francesco, 2026. "Spillover effects of foreign takeover restrictions on corporate investment of peer firms: Evidence from CFIUS denials," International Review of Law and Economics, Elsevier, vol. 86(C).
- Amanjot Singh, 2023. "Insider stock pledging and stock price informativeness: Evidence from India," Review of Financial Economics, John Wiley & Sons, vol. 41(1), pages 65-85, January.
- Anaïs Hamelin & Vivien Lefebvre, 2025. "The Virus and the Citadel: exploring the performance impact of business group affiliation for small businesses throughout the COVID-19 pandemic," Small Business Economics, Springer, vol. 65(2), pages 915-946, August.
- repec:ces:ceswps:_12244 is not listed on IDEAS
- Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2023. "Contingent factors of the coinsurance function of internal capital markets: Evidence from the US nonlife insurance industry," The North American Journal of Economics and Finance, Elsevier, vol. 66(C).
- Bronzini, Raffaello & D’Ignazio, Alessio & Revelli, Davide, 2022.
"Financial structure and bank relationships of Italian multinational firms,"
Journal of Multinational Financial Management, Elsevier, vol. 66(C).
- Raffaello Bronzini & Alessio D’Ignazio & Davide Revelli, 2021. "Financial structure and bank relationships of Italian multinational firms," Temi di discussione (Economic working papers) 1326, Bank of Italy, Economic Research and International Relations Area.
- Kabbach-de-Castro, Luiz Ricardo & Kirch, Guilherme & Matta, Rafael, 2022. "Do internal capital markets in business groups mitigate firms' financial constraints?," Journal of Banking & Finance, Elsevier, vol. 143(C).
- Bena, Jan & Dinc, Serdar & Erel, Isil, 2022.
"The international propagation of economic downturns through multinational companies: The real economy channel,"
Journal of Financial Economics, Elsevier, vol. 146(1), pages 277-304.
- Jan Bena & Serdar Dinc & Isil Erel, 2020. "The International Propagation of Economic Downturns Through Multinational Companies: The Real Economy Channel," NBER Working Papers 27873, National Bureau of Economic Research, Inc.
- Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2023. "Risk-sharing function in internal capital markets: Evidence from intragroup reinsurance activities," International Review of Financial Analysis, Elsevier, vol. 87(C).
- Ducret, Romain & Isakov, Dušan, 2020.
"The Korea discount and chaebols,"
Pacific-Basin Finance Journal, Elsevier, vol. 63(C).
- Ducret, Romain & Isakov, Dusan, 2019. "The Korea discount and chaebols," FSES Working Papers 511, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
- Chu, Pyung Kun, 2022. "Semibeta asset pricing in the Korean stock market," Finance Research Letters, Elsevier, vol. 50(C).
- Hu, Xingxing & Lin, Bingxuan & Liu, Huilong & Xu, Xiaowei, 2025. "Institutional voids and business group dynamics: Evidence from judicial reform in China11We gratefully acknowledge financial support from the National Natural Science Foundation of China (No. 71772039),National Social Science Foundation of China (No.," Journal of Corporate Finance, Elsevier, vol. 95(C).
- Hai Ding & Wenbo Zhu & Huiqing Gao, 2026. "Does the digital transformation of group finance companies boost subsidiary investment efficiency?," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 13(1), pages 1-10, December.
- Marcus Biermann & Kilian Huber, 2024.
"Tracing the International Transmission of a Crisis through Multinational Firms,"
Journal of Finance, American Finance Association, vol. 79(3), pages 1789-1829, June.
- Marcus Biermann & Kilian Huber, 2023. "Tracing the International Transmission of a Crisis Through Multinational Firms," NBER Working Papers 31061, National Bureau of Economic Research, Inc.
- Biermann, Marcus & Huber, Kilian, 2025. "Tracing the International Transmission of a Crisis through Multinational Firms," CEPR Discussion Papers 20336, Centre for Economic Policy Research.
- Katarzyna Bilicka, 2025.
"Labor market consequences of antitax avoidance policies,"
International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 32(2), pages 429-465, April.
- Katarzyna Bilicka, 2021. "Labor Market Consequences of Antitax Avoidance Policies," Upjohn Working Papers 21-354, W.E. Upjohn Institute for Employment Research.
- Liu, Lihua & Shu, Haicheng, 2022. "Mandatory dividend policy and perk consumption: Evidence from state-owned business groups in China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
- Nadia Accoto & Federica Daniele & Valerio Della Corte, 2026. "Profit shifting via intragroup lending: measuring and comparing the debt structure and interest rate channels," Temi di discussione (Economic working papers) 1529, Bank of Italy, Economic Research and International Relations Area.
- Dang, Viet A. & Gao, Ning & Lin, Hongge, 2026. "Extreme weather events and payment timeliness in supply chains: Evidence from Hurricane Katrina," Journal of Corporate Finance, Elsevier, vol. 98(C).
- Wang, Xinran & Zhai, Shaoxuan, 2026. "Intra-group spillovers of digital innovation: Evidence from Chinese business groups' knowledge networks," Technology in Society, Elsevier, vol. 86(C).
- Meera Ancy Vincent & Pranab Kumar Das & Samaresh Bardhan, 2025. "Firm investment, financial constraints and agency costs: evidence from India," Empirical Economics, Springer, vol. 69(6), pages 3463-3509, December.
- Zhang, Jiarui & Shi, Yingying & Li, Lei, 2025. "Corporate response to monetary policies: Do foreign subsidiaries and local firms behave differently?," Journal of International Money and Finance, Elsevier, vol. 154(C).
- Wadhwa, Kavita & Syamala, Sudhakara Reddy, 2023. "Are business groups different from other family firms? Evidence from corporate investments during political uncertainty," Emerging Markets Review, Elsevier, vol. 54(C).
- Kim, Yeonghyeon & Lee, Junyong & Lee, Kyounghun & Oh, Frederick Dongchuhl, 2024. "Corporate disclosure behavior during financial crises: Evidence from Korea," Journal of Financial Stability, Elsevier, vol. 73(C).
- Tan, Wenhao & Li, Xiang & Zhao, Jianfeng & Cao, Lin & Wang, Haolun, 2023. "Internal capital markets and employee wage: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 88(C).
- Ducret, Romain, 2021. "Investors' perception of business group membership during an economic crisis : Evidence from the COVID-19 pandemic," FSES Working Papers 524, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
- Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2021. "Group firms’ access to internal capital markets: The contingent roles of group resources and affiliates’ financial weakness," Economic Modelling, Elsevier, vol. 96(C), pages 135-156.
- Luana Zaccaria & Simone Narizzano & Francesco Savino & Antonio Scalia, 2024. "From Public to Internal Capital Markets: The Effects of Affiliated IPOs on Group Firms," Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) 49, Bank of Italy, Directorate General for Markets and Payment System.
- Goedde-Menke, Michael & Norden, Lars & Rose, Christian, 2025. "The benefits of downside risk reduction through coinsurance," International Review of Financial Analysis, Elsevier, vol. 104(PA).
- Liu, Yu & Peng, Mike W. & Wei, Zuobao & Xu, Jian & Xu, Lixin Colin, 2025. "Surviving and recovering in times of crisis: A resource dependence view of firm ownership," Journal of Business Research, Elsevier, vol. 199(C).
- Kong, Dongmin & Ji, Mianmian & Liu, Lihua, 2023. "Mandatory dividend policy and investment efficiency within state-owned business groups," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
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