search query: @indexterm Investor protection / total: 34
reference: 16 / 34
| Author: | Almeida, H. Wolfenzon, D. |
| Title: | Should business groups be dismantled? The equilibrium costs of efficient capital markets |
| Journal: | Journal of Financial Economics
2006 : FEB, VOL. 79:2, p. 99-144 |
| Index terms: | allocation capital markets investor protection |
| Language: | eng |
| Abstract: | This article examines how conglomerates have biased capital allocation and why they find it optimal to allocate scarce capital internally to mediocre projects although other companies in the economy have higher-productivity projects in need of additional capital. According to the authors, this is due to financial market imperfections engendered by imperfect investor protection. |
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