Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 9 of 9 for “"internal capital market"”.
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Internal Capital Market and Capital Misallocation: Evidence from Corporate Spinoffs
This study investigates the importance of reduced capital misallocation in explaining the gains in corporate spinoffs. The capital misallocation hypothesis asserts that the internal capital market of a diversified firm fails to meet the needs of the relatively low growth divisions for less …
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Essays in Internal Capital Markets in the U.S. Property-Liability Insurance Industry
… examines whether M&As are related to internal capital markets by analyzing the changes in internal capital market utilization following M&As in the U.S. property-liability insurance industry during the period 2000-2015. The results suggest that both acquiring insurers and targets …
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Essays in corporate finance
… first essay, I study managerial incentives in internal capital markets. In particular, I develop a two-tiered agency model to study division managers' incentives within internal capital markets. Division managers try to influence the external capital market's assessment of the firm and the …
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Property rights, internal labor markets and the organizational form of the firm
… as an administrative substitute for costly market mechanisms. Meanwhile, discretionary theories assume that managers operate under a costly-to-impose capital market constraint. Given these underlying theories, the multidivisional form of firm organization is valued within the current theory …
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Essay on the Persistence of Corporate Diversification Discount after Merger and Acquisition Transactions and Essay on the Capital Structure Properties of Real Estate Investment Trusts (REITs)
… Several methodologies and tests applied in capital structure literature are introduced to the literature of REITs capital structure. First, I investigate how the market prices leverage in absence of tax-deductibility benefit. Then, I diagnose the relative importance of several non-tax-driven …
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Efficiency of Internal Capital Allocation and the Success of Acquisitions
Does efficient internal investment generally translate into successful external investment activities? In this research we use the internal capital allocation efficiency as a proxy for the efficiency of internal investment, and study whether firms that are internally efficient also make efficient …
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Essays on family business groups, corporate investments, and cash management
… Crisis. This study finds that access to an internal capital market via membership of a business group moderates the firms’ dependence on external capital. Consequently, group-affiliated firms have financing and investment advantages over standalone firms especially during a financial crisis. …
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Internal Capital Markets And Bank Relationship - Evidence From Japanese Corporate Spin-offs.Internal Capital Markets, Investment
… dissertation consists of two studies related to internal capital markets and bank relationship using Japanese corporate spin-offs. The first study analyzes the relation between internal capital markets and banks by examining 137 Japanese corporate spin-offs created between the years 2001 and 2003 …
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Organizational Capital Budgeting Model (Ocbm)
<p>Organizational Capital Budgeting Model (OCBM) is a general theory of capital budgeting that incorporates traditional capital budgeting theories and the consideration about firm's information/ organization structure. The traditional financial capital budgeting model is a special case of OCBM. …