The traditional policy of most multinational corporations (MNC) with respect to their subsidiary boards was or even still is to reduce these boards through composition, information and superseding these through an integrated management system to the bare local legal requirements and not having...

This paper studies the first day return of 227 carve-outs during 1996-2013. I find that the first day return of newly issued subsidiary stocks is explained by the reporting distortions in the pre IPO period, conditioned on whether the executives and directors of the subsidiary received stock...

This paper studies the effects of intra-firm branch competition in a monopoly setting. It demonstrates that intra-firm branch competition has a significant impact on the firm's market decisions, and consequently on the market outcome. The paper has identified the sufficient conditions under...