Revisiting the Bright and Dark Sides of Capital Flows in Business Groups
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Fan, Joseph; Jin, Li; Zheng, G.
Description
Prior studies report that the business group structure and the associated intra-group capital flows are prone to conflicts of interest between controlling shareholders and minority investors. Yet business group is a prevalent and stable structure around the globe, particularly where capital markets are underdeveloped. Using data from China, this paper empirically studies the trade-off between the negative and positive roles played by intra-group capital flows and tests the efficiency...[Show more]
Collections | ANU Research Publications |
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Date published: | 2014 |
Type: | Journal article |
URI: | http://hdl.handle.net/1885/20576 |
Source: | Journal of Business Ethics |
DOI: | 10.1007/s10551-014-2382-6 |
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File | Description | Size | Format | Image |
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01_Fan_Revisiting_the_Bright_and_Dark_2014.pdf | 279.54 kB | Adobe PDF | Request a copy |
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