Article ID Journal Published Year Pages File Type
5089724 Journal of Banking & Finance 2012 15 Pages PDF
Abstract
► Capital allocations of diversified firms relate to corporate governance structures. ► Diversified firms with more effective governance mechanisms have better investment efficiency. ► Our results hold at both the firm and segment levels. ► Diversified firms with better governance structures trade at less of a discount.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Corporate governance and capital allocations of diversified firms
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