Møen, Jarle; Schindler, Dirk; Schjelderup, Guttorm; … - 2018
Some multinationals use the parent company as a lender to the group, whereas others set up an internal bank in a low … theory model using data on the universe of German multinationals. The empirical analysis largely supports our model in that …: (i) smaller firms often rely on parental debt financing; (ii) larger multinationals are more likely to use internal banks …