Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
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When external capital markets are stressed they may not reallocate resources between firms. We show that resource allocation within firms' internal capital markets provides an important force countervailing financial market dislocation. Using data on US conglomerates we empirically verify that firms
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美国国家经济研究局创建时间：
2011-12-01
