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Evidence from diversified conglomerates
Scharfstein, David - 1998
Persistent link: https://www.econbiz.de/10000654533
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Divisional rent-seeking and inefficient investment
Scharfstein, David; Stein, Jeremy C. - 1997
Persistent link: https://www.econbiz.de/10000654531
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Risk management: coordinating corporate investment and financing policies
Froot, Kenneth - In: The journal of finance : the journal of the American … 48 (1993) 5, pp. 1629-1658
Persistent link: https://www.econbiz.de/10001155979
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The dark side of internal capital markets : divisional rent-seeking and inefficient investment
Scharfstein, David; Stein, Jeremy C. - In: The journal of finance : the journal of the American … 55 (2000) 6, pp. 2537-2564
Persistent link: https://www.econbiz.de/10001537334
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Shareholder-value maximization and product-market competition
Rotemberg, Julio - In: The review of financial studies 3 (1990) 3, pp. 367-391
Persistent link: https://www.econbiz.de/10001105897
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The Dark Side of Internal Capital Markets : Divisional Rent-Seeking and Inefficient Investment
Scharfstein, David S. - 2008
We develop a model that shows how rent-seeking behavior on the part of division managers can subvert the workings of an internal capital market. In an effort to stop rent-seeking, corporate headquarters will be effectively forced into paying bribes to some division managers. And because...
Persistent link: https://www.econbiz.de/10012774955
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The Dark Side of Internal Capital Markets : Divisional Rent-Seeking and Inefficient Investment
Scharfstein, David S. - 1997
We develop a model that shows how rent-seeking behavior on the part of division managers can subvert the workings of an internal capital market. In an effort to stop rent-seeking, corporate headquarters will be effectively forced into paying bribes to some division managers. And because...
Persistent link: https://www.econbiz.de/10012472852