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Author:Billett, M.T.
Mauer, D.C.
Title:Diversification and the value of internal capital markets: the case of tracking stock
Journal:Journal of Banking and Finance
2000 : SEP, VOL. 24:9, p. 1457-1490
Index terms:Capital markets
Stocks
Diversification
Language:eng
Abstract:The paper examines the characteristics of firms adopting tracking stock equity structures. Tracking stock anouncements offer a unique opportunity to directly observe the maarket's assessment of the value of a diversified firm's internal capital market.
SCIMA record nr: 215985
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