Cross-Ownership: A Device for Management Entrenchment?
نویسندگان
چکیده
منابع مشابه
Ownership , Economic Entrenchment and Allocation of Capital February 2008 Johan
In an efficient economy, capital should be quickly (re)allocated from declining firms and sectors to more profitable investment opportunities. This process is affected by the concentration of corporate control, which in turn is affected by market institutions. We employ a panel of 12,000 firms across 44 countries to estimate the functional efficiency of capital markets. We adapt a measure for t...
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ژورنال
عنوان ژورنال: Review of Finance
سال: 2016
ISSN: 1572-3097,1573-692X
DOI: 10.1093/rof/rfw009