Jeon, Bang Nam; Olivero, María Pía; Wu, Ji - In: Journal of Banking & Finance 37 (2013) 3, pp. 952-972
Using bank-level data on 368 foreign subsidiaries of 68 multinational banks in 47 emerging economies during 1994–2008, we present consistent evidence that internal capital markets in multinational banking contribute to the transmission of financial shocks from parent banks to foreign...