This paper provides empirical evidence on two potential costs of shared ownership of German affiliates abroad. First, in periods of currency crises, wholly-owned affiliates, in contrast to partially-owned affiliates, seem to circumvent financial constraints by accessing capital from their parent...

This paper investigates how knowledge transferred within multinational corporations affects capital structure decisions of foreign affiliates. Employing the unique dataset on Korean multinationals and their employment structure of foreign affiliates, we measure the knowledge transfer through...