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We examine whether business groups' influence on cash holdings depends on ownership. Group affiliation can increase firms' agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult external...
Persistent link: https://www.econbiz.de/10011937016
Persistent link: https://www.econbiz.de/10012007663
We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult...
Persistent link: https://www.econbiz.de/10011844586
Persistent link: https://www.econbiz.de/10011782570