Бизнес-группы и неразвитые финансовые институты: пример России

The hypothesis that internal capital markets within Russian business groups overcome the liquidity constraints problem widely spread outside groups is tested. Our findings indicate that even if the groups’ internal capital markets do exist in Russian business groups, their efficiency is rather doubtful and the access to external financing by firms affiliated with the groups is constrained.

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Year of publication:	2004
Authors:	Shumilov, Andrei ; Volchkova, Natalya

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Type of publication:	Book / Working Paper
Language:	English ; Russian
Notes:	Shumilov, Andrei and Volchkova, Natalya (2004): Бизнес-группы и неразвитые финансовые институты: пример России. Published in: Экономические исследования и образование: Россия и СНГ , Vol. 15, (2004): pp. 10-11.
Classification:	G32 - Financing Policy; Capital and Ownership Structure ; L22 - Firm Organization and Market Structure: Markets vs. Hierarchies; Vertical Integration
Source:	BASE

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