The Deep-Pocket Effect of Internal Capital Markets [PDF]
We provide evidence suggesting that incumbents’ access to group deep pockets has a negative impact on entry in product markets. Relying on a unique French data set on business groups, our paper presents three major findings.
Giacinta Cestone +4 more
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Corporate failure prediction modeling: Distorted by business groups' internal capital markets?. [PDF]
Most models in the bankruptcy prediction literature implicitly assume companies are stand-alone entities. However, in view of the importance of business groups in Continental Europe, ignoring group ties may have a negative impact on predictive ...
Dewaelheyns, Nico, Van Hulle, Cynthia
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External and Internal Factors of Cross-Border Capital Flows in Russia
Мир новой экономики, 2019 The literature on the assessment of factors affecting cross-border capital flows is usually characterised by distinguishing of external and internal factors.
M. Yu. Golovnin, G. R. Oganesian
doaj +1 more source
Foreign Banks in Transition Economies: Small Business Lending and Internal Capital Markets [PDF]
On the basis of focused interviews with managers of foreign parent banks and their affiliates in Central Europe and the Baltics, we analyse foreign banks’ small business lending and internal capital markets.
Ralph de Haas, Ilko Naaborg
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The Benefits and Costs of Internal Markets: Evidence from Asia's Financial Crisis [PDF]
This study examines the role of internal capital markets and diversification during normal and turbulent times. We hypothesize that internal markets are more valuable for firms in countries with less-developed financial markets and that diversification ...
Fan, Joseph P.H. +3 more
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Testing popular VaR models in EU new member and candidate states [PDF]
Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, 2007 The impact of allowing banks to calculate their capital requirement based on their internal VaR models, and the impact of regulation changes on banks in transitional countries has not been well studied.
Saša Žiković
doaj
Internal Capital Markets and Financing Choices of Mexican Firms Before and During the Financial Paralysis of 1995-2000 [PDF]
This paper shows that, contrary to conventional wisdom, once the Mexican economy moved from financial liberalization to financial paralysis in 1995, liquidity constraints were relaxed for many large and financially healthy firms listed on the Mexican ...
Gonzalo Castaneda
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A Multinational Perspective on Capital Structure Choice and Internal Capital Markets [PDF]
This paper examines the impact of local tax rates and capital market conditions on the level and composition of borrowing by foreign affiliates of American multinational corporations.
Mihir A. Desai +2 more
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Internal capital markets, corporate investment, and the COVID-19 pandemic: Evidence from Korean business groups. [PDF]
Int Rev Financ Anal, 2022 Lee S.
europepmc +1 more source
The Very Dark Side of Internal Capital Markets: Evidence from Diversified Business Groups in Korea [PDF]
This paper examines the capital allocation within Korean chaebol firms during the period from 1991 to 2000. We find strong evidence that, during the pre-Asian financial crisis period in the early 1990's, poorly performing firms with less investment ...
Park, Kwangwoo +2 more
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