Boutin, Xavier; Cestone, Giacinta; Fumagalli, Chiara; … - In: Journal of Financial Economics 109 (2013) 1, pp. 122-145
We provide evidence that incumbent and entrant firms' access to business group deep pockets affects the entry patterns … in product markets. Relying on a unique French data set on business groups, our paper shows that entry into manufacturing …' cash. In line with theoretical predictions, we find that the impact of group cash holdingson entry is more important in …