Internal Capital Markets and Managerial Power: Implications for Family Groups

Markus Glaser, Florencio Lopez-de-Silanes, Zacharias Sautner: This paper reports some of the main results of our paper “Opening the Black Box: InternalCapital Markets and Managerial Power, ”Journal of Finance, LXVIII (4), August 2013.

Author(s) :

Markus Glaser

Munich School of Management

Florencio Lopez-de-Silanes

EDHEC Business School

Zacharias Sautner

University of Amsterdam

But it also presents additional findings that may be useful for family firms and firms with a large controlling shareholder and whose management structure across branches is similar to that of a classic conglomerate or multi-segment corporation.
Pdf
Internal Capital Markets and Managerial Power: Implications for Family Groups...
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Type : Working paper
Date : le 28/03/2014
Extra information : For more information, please contact EDHEC Research and Development Department [ research@drd.edhec.edu ]
Research Cluster : Family Business Centre

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