Income Shifting in Italian Business Groups and some Governance Implications
Author
Abstract
Suggested Citation
DOI: 10.1023/A:1009921507387
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Hart, Oliver & Moore, John, 1990.
"Property Rights and the Nature of the Firm,"
Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-1158, December.
- Oliver Hart & John Moore, 1988. "Property Rights and the Nature of the Firm," Working papers 495, Massachusetts Institute of Technology (MIT), Department of Economics.
- Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
- Stein, Jeremy C, 1997.
"Internal Capital Markets and the Competition for Corporate Resources,"
Journal of Finance, American Finance Association, vol. 52(1), pages 111-133, March.
- Jeremy C. Stein, 1995. "Internal Capital Markets and the Competition for Corporate Resources," NBER Working Papers 5101, National Bureau of Economic Research, Inc.
- Gerald L. Salamon & E. Dan Smith, 1979. "Corporate Control and Managerial Misrepresentation of Firm Performance," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 319-328, Spring.
- Zingales, Luigi, 1994. "The Value of the Voting Right: A Study of the Milan Stock Exchange Experience," The Review of Financial Studies, Society for Financial Studies, vol. 7(1), pages 125-148.
- Granovetter, Mark, 1995. "Coase Revisited: Business Groups in the Modern Economy," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 4(1), pages 93-130.
- Gordon E. Greenley & Gordon R. Foxall, 1997. "Multiple Stakeholder Orientation in UK Companies and the Implications for Company Performance," Journal of Management Studies, Wiley Blackwell, vol. 34(2), pages 259-284, March.
- Elitzur, Ramy & Mintz, Jack, 1996. "Transfer pricing rules and corporate tax competition," Journal of Public Economics, Elsevier, vol. 60(3), pages 401-422, June.
- Robert H. Gertner & David S. Scharfstein & Jeremy C. Stein, 1994. "Internal versus External Capital Markets," NBER Working Papers 4776, National Bureau of Economic Research, Inc.
- Robert H. Gertner & David S. Scharfstein & Jeremy C. Stein, 1994. "Internal versus External Capital Markets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(4), pages 1211-1230.
- Stoughton, Neal M. & Talmor, Eli, 1994. "A mechanism design approach to transfer pricing by the multinational firm," European Economic Review, Elsevier, vol. 38(1), pages 143-170, January.
- Maydew, EL, 1997. "Tax-induced earnings management by firms with net operating losses," Journal of Accounting Research, Wiley Blackwell, vol. 35(1), pages 83-96.
- Goto, Akira, 1982. "Business groups in a market economy," European Economic Review, Elsevier, vol. 19(1), pages 53-70.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Takeo Hoshi & Anil Kashyap & David Scharfstein, 1991.
"Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(1), pages 33-60.
- Takeo Hoshi & Anil K. Kashyap & David Scharfstein, 1989. "Corporate structure, liquidity, and investment: evidence from Japanese industrial groups," Finance and Economics Discussion Series 82, Board of Governors of the Federal Reserve System (U.S.).
- Buzzacchi, Luigi & Colombo, Massimo G, 1996. "Business Groups and the Determinants of Corporate Ownership," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(1), pages 31-51, January.
- Jacob, J, 1996. "Taxes and transfer pricing: Income shifting and the volume of intrafirm transfers," Journal of Accounting Research, Wiley Blackwell, vol. 34(2), pages 301-312.
- Stuart Rosenstein & Jeffrey G. Wyatt, 1994. "Shareholder wealth effects when an officer of one corporation joins the board of directors of another," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 15(4), pages 317-327, July/Augu.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Choi, Young Rok & Yoshikawa, Toru & Zahra, Shaker A. & Han, Bong H., 2014. "Market-oriented institutional change and R&D investments: Do business groups enhance advantage?," Journal of World Business, Elsevier, vol. 49(4), pages 466-475.
- Bernard Yeung & Randall Morck & Daniel Wolfenzon, 2004.
"Corporate Governance, Economic Entrenchment and Growth,"
Working Papers
04-21, New York University, Leonard N. Stern School of Business, Department of Economics.
- Randall Morck & Daniel Wolfenzon & Bernard Yeung, 2004. "Corporate Governance, Economic Entrenchment and Growth," NBER Working Papers 10692, National Bureau of Economic Research, Inc.
- Shleifer, Andrei & Vishny, Robert W, 1997.
"A Survey of Corporate Governance,"
Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
- Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
- Shleifer, Andrei & Vishny, Robert W., 1997. "A Survey of Corporate Governance," Scholarly Articles 30728046, Harvard University Department of Economics.
- Andrei Shleifer & Robert W. Vishny, 1996. "A Survey of Corporate Governance," NBER Working Papers 5554, National Bureau of Economic Research, Inc.
- Dietrich, Diemo & Jindra, Björn, 2010. "Corporate governance in the multinational enterprise: A financial contracting perspective," International Business Review, Elsevier, vol. 19(5), pages 446-456, October.
- Patrick Bolton & David S. Scharfstein, 1998. "Corporate Finance, the Theory of the Firm, and Organizations," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 95-114, Fall.
- Anaïs HAMELIN, 2013. "Does Size Matter? Firm And Business Group Size Influence On The Benefits Of Group Affiliation," Working Papers of LaRGE Research Center 2013-10, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
- Stein, Jeremy C., 2003.
"Agency, information and corporate investment,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 2, pages 111-165,
Elsevier.
- Jeremy C. Stein, 2001. "Agency, Information and Corporate Investment," NBER Working Papers 8342, National Bureau of Economic Research, Inc.
- Wei Huang & Hong Zhang & Abhinav Goyal & Jason Laws, 2019. "Internal capital market mergers in weak external market environment: An emerging market evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 1486-1505, October.
- Ly, Kim Cuong & Liu, Hong & Opong, Kwaku, 2017. "Who acquires whom among stand-alone commercial banks and bank holding company affiliates?," International Review of Financial Analysis, Elsevier, vol. 54(C), pages 144-158.
- Jeremy C. Stein, 2002. "Information Production and Capital Allocation: Decentralized versus Hierarchical Firms," Journal of Finance, American Finance Association, vol. 57(5), pages 1891-1921, October.
- Vojislav Maksimovic & Gordon Phillips, 2005.
"The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?,"
Working Papers
05-29, Center for Economic Studies, U.S. Census Bureau.
- Vojislav Maksimovic & Gordon Phillips, 2006. "The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?," NBER Working Papers 12297, National Bureau of Economic Research, Inc.
- Holger Mueller, 2016. "Reallocation of Capital and Labor within Firms," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 152(4), pages 289-303, October.
- Curi, Claudia & Murgia, Maurizio, 2018.
"Divestitures and the financial conglomerate excess value,"
Journal of Financial Stability, Elsevier, vol. 36(C), pages 187-207.
- Claudia Curi & Maurizio Murgia, 2017. "Divestitures and the financial conglomerate excess value," BEMPS - Bozen Economics & Management Paper Series BEMPS43, Faculty of Economics and Management at the Free University of Bozen.
- Brahmana, Rayenda Khresna & Setiawan, Doddy & Hooy, Chee Wooi, 2014. "Diversification strategy, Ownership Structure, and Firm Value: a study of public‐listed firms in Indonesia," MPRA Paper 64607, University Library of Munich, Germany.
- Luigi Zingales, 2000.
"In Search of New Foundations,"
Journal of Finance, American Finance Association, vol. 55(4), pages 1623-1653, August.
- Luigi Zingales, 2000. "In Search of New Foundations," CRSP working papers 515, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- Luigi Zingales, 2000. "In Search of New Foundations," NBER Working Papers 7706, National Bureau of Economic Research, Inc.
- Zingales, Luigi, 2000. "In Search of New Foundations," CEPR Discussion Papers 2551, C.E.P.R. Discussion Papers.
- Roman Inderst & Holger M. Mueller & Felix Münnich, 2006.
"Financing a Portfolio of Projects,"
The Review of Financial Studies, Society for Financial Studies, vol. 20(4), pages 1289-1325.
- Inderst, Roman & Mueller, Holger & Muennich, Felix, 2006. "Financing a Portfolio of Projects," CEPR Discussion Papers 5711, C.E.P.R. Discussion Papers.
- Inderst, Roman & Mueller, Holger M. & Münnich, Felix, 2006. "Financing a portfolio of projects," IMFS Working Paper Series 5, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Inderst, Roman & Müller, Holger & Münnich, Felix, 2009. "Financing a portfolio of projects," IMFS Working Paper Series 34, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Arnoud W.A. Boot & Anjolein Schmeits, 1996.
"Market Discipline in Conglomerate Banks: Is an Internal Allocation of Cost of Capital Necessary as an Incentive Device?,"
Center for Financial Institutions Working Papers
96-39, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Arnoud W.A. Boot & Anjolein Schmeits, 1997. "Market Discipline in Conglomerate Banks: Is an Internal Allocation of Cost of Capital Necessary as Incentive Device," William Davidson Institute Working Papers Series 125, William Davidson Institute at the University of Michigan.
- Ms. Yu Shi & Robert M. Townsend & Wu Zhu, 2019. "Internal Capital Markets in Business Groups and the Propagation of Credit Supply Shocks," IMF Working Papers 2019/111, International Monetary Fund.
- Ricardo Alonso & Wouter Dessein & Niko Matouschek, 2008.
"When Does Coordination Require Centralization?,"
American Economic Review, American Economic Association, vol. 98(1), pages 145-179, March.
- Matouschek, Niko & Dessein, Wouter & Alonso, Ricardo, 2006. "When Does Coordination Require Centralization?," CEPR Discussion Papers 5802, C.E.P.R. Discussion Papers.
- Alonso, Ricardo & Dessein, Wouter & Matouschek, Niko, 2008. "When does coordination require centralization?," LSE Research Online Documents on Economics 58664, London School of Economics and Political Science, LSE Library.
- Daphne W. Yiu & Yuan Lu & Garry D. Bruton & Robert E. Hoskisson, 2007. "Business Groups: An Integrated Model to Focus Future Research," Journal of Management Studies, Wiley Blackwell, vol. 44(8), pages 1551-1579, December.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jmgtgv:v:1:y:1997:i:2:p:207-230. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.