International asset pricing with strategic business groups
Firms in global markets often belong to business groups. We argue that this feature can have a profound influence on international asset pricing. In bad times, business groups may strategically reallocate risk across affiliated firms to protect core “central firms.” This strategic behavior induces c...
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| Main Authors: | , |
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2022
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| 在線閱讀: | https://ink.library.smu.edu.sg/lkcsb_research/7055 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8054/viewcontent/DP15746.pdf |
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| 機構: | Singapore Management University |
| 語言: | English |