Skip to Main Content
Handbook of Empirical Corporate Finance SET
book

Handbook of Empirical Corporate Finance SET

by Bjørn Espen Eckbo
December 2008
Intermediate to advanced content levelIntermediate to advanced
520 pages
43h 42m
English
North Holland
Content preview from Handbook of Empirical Corporate Finance SET
Chapter 8

Conglomerate Firms and Internal Capital Markets*

Vojislav Maksimovicvmax@rhsmith.umd.edu    Robert H. Smith School of Business, University of Maryland, College Park, MD 20742, USA

Gordon Phillipsgphillips@rhsmith.umd.edu    Robert H. Smith School of Business and NBER, University of Maryland, College Park, MD 20742, USA

Abstract

Conglomerate firm production represents more than 50 percent of production in the United States. Given the size of production by conglomerate firms, understanding the costs and benefits of this form of organization has important implications. Several studies have shown that there exists a discount in stock market value of conglomerate firms relative to single-segment focused firms. This discount represents an economically ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Handbook of Empirical Corporate Finance

Handbook of Empirical Corporate Finance

B. Espen Eckbo
Corporate Finance, 4th Edition

Corporate Finance, 4th Edition

Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi
Handbook of Economic Forecasting

Handbook of Economic Forecasting

Graham Elliott, Allan Timmermann

Publisher Resources

ISBN: 9780444532657