Internal capital markets and predictability in complex ownership firms
Using global cross-firm ownership data, we find that both stock returns and cash-flow news of ownership-linked firms predict focal firm's returns for all types of ownership structures: subsidiary-parent, parent-subsidiary, subsidiary-subsidiary, and parent-parent. This effect, observed only aft...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2022
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/7174 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8173/viewcontent/1_s2.0_S0929119922000621_main.pdf |
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| Institution: | Singapore Management University |
| Language: | English |