search query: @indexterm DIVERSIFICATION / total: 686
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| Author: | Shackman, J.D. |
| Title: | Corporate diversification, vertical integration, and internal capital markets: a cross-country study |
| Journal: | Management International Review
2007 : VOL. 47:4, p. 479-504 |
| Index terms: | capital markets diversification shareholders vertical integration |
| Language: | eng |
| Abstract: | The paper tests the theory that internal capital markets are a motivation for both corporate diversification and vertical integration. Also theories about vertical integration and capital market developments as well as agency cost and taxation theories of diversification and vertical integration are tested. The findings show negative relationship between corporate diversification and capital market development and a positive relationship between vertical integration and capital market development. |
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