Business Groups in Emerging Markets -Financial Control and Sequential Investment

Business groups in emerging markets perform better than unaffiliatedfirms. One explanation is that business groups substitute some functions ofmissing institutions, for example, enforcing contracts. We investigate thisby setting up a model where firms within the business group are connectedto each other by a vertical production structure and an internal capitalmarket...

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Year of publication:	2006-06-01
Authors:	Hainz, Christa
Institutions:	William Davidson Institute <Ann Arbor, Mich.>
Subject:	Moral hazard \| Finanzierungsrechnung \| capital finance account \| Investitionsentscheidung \| Kapitalstruktur \| capital structure

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Extent:	373760 bytes 28 p. application/pdf
Series:	William Davidson Institute - Working Papers William Davidson Institute Working Paper ; 830 (2006)
Type of publication:	Book / Working Paper
Language:	English
Classification:	G31 - Capital Budgeting; Investment Policy ; G32 - Financing Policy; Capital and Ownership Structure ; G34 - Mergers; Acquisitions; Restructuring; Corporate Governance ; K49 - Legal Procedure, the Legal System, and Illegal Behavior. Other ; Procurement of capital ; Employment of capital, capital investment planning and estimate of investment profitability ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005861050