Gonenc, Halit; Kan, Ozgur B.; Karadagli, Ece C. - In: Emerging Markets Finance and Trade 43 (2007) 2, pp. 63-81
We compare the performance of firms affiliated with diversified business groups with the performance of unaffiliated firms in Turkey, an emerging market. We address the question of whether group-affiliated firms create internal capital markets or control large cash flows. Our findings indicate...