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Is There a Diversification Discount in Financial Conglomerates?
16 references·16 citing·34 second hopsampled
Is There a Diversification Discount in Financial Conglomerates? (2005)Is There a Diversification Discount in Fi…Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure (1998)Theory of the Firm: Manageria…Law and Finance (1998)Law and FinanceTheory of the firm; managerial Behavior, Agency Costs, and Ownership Structure (1996)Theory of the firm; manageria…Law and Finance (1996)Law and FinanceAgency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…Diversification's effect on firm value (1995)Diversification's effect on f…Tobin's q, Corporate Diversification, and Firm Performance (1994)Tobin's q, Corporate Diversif…The Benefits of Lending Relationships: Evidence from Small Business Data (1994)The Benefits of Lending Relat…Insiders and Outsiders: The Choice between Informed and Arm's-Length Debt (1992)Insiders and Outsiders: The C…Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt (1991)Monitoring and Reputation: Th…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…The Structure of Corporate Ownership: Causes and Consequences (1985)The Structure of Corporate Ow…Financial Intermediation and Delegated Monitoring (1984)Financial Intermediation and …Separation of Ownership and Control (1983)Separation of Ownership and C…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…The Nature of the Firm (1937)The Nature of the FirmBanks' Size, Scope and Systemic Risk: What Role for Conflicts of Interest? (2014)Banks' Size, Scope and System…Bank Size and Systemic Risk (2014)Bank Size and Systemic RiskOwnership Structure and Risk-Taking: Comparative Evidence from Private and State-Controlled Banks in China (2013)Ownership Structure and Risk-…Competition and risk in Japanese banking (2012)Competition and risk in Japan…Large Shareholder Diversification and Corporate Risk-Taking (2011)Large Shareholder Diversifica…The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises (2010)The Flight Home Effect: Evide…Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2008–2009 Financial Crisis (2010)Does Diversification Create V…Do Bank Profits Converge? (2009)Do Bank Profits Converge?Bank Governance, Regulation, and Risk Taking (2008)Bank Governance, Regulation, …The Risks of Financial Institutions (2007)The Risks of Financial Instit…Regulating financial conglomerates (2007)Regulating financial conglome…Multiple directorships and corporate diversification (2007)Multiple directorships and co…European banking: An overview (2007)European banking: An overviewCooperative Banks and Financial Stability (2007)Cooperative Banks and Financi…Cooperative Banks and Financial Stability (2007)Cooperative Banks and Financi…Small European Banks: Benefits from Diversification? (2006)Small European Banks: Benefit…The Modern Corporation and Private Property (1933)Agency Problems and Residual Claims (1983)A Survey of Corporate Governance (1997)Corporate Ownership Around the World (1999)The arbitrage theory of capital asset pricing (1976)Moral Hazard and Observability (1979)Bank Runs, Deposit Insurance, and Liquidity (1983)Financial Intermediation, Loanable Funds, and The Real Sector (1997)Credit Rationing in Markets with Imperfect Information (1981)Financing Constraints and Corporate Investment (1988)The Effect of Credit Market Competition on Lending Relationships (1995)Relationship Banking: What Do We Know? (2000)Bank regulation and supervision: what works best? (2003)GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)Two Agency-Cost Explanations of Dividends (1984)Corporate performance and managerial remuneration (1985)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)What Do We Know about Capital Structure? Some Evidence from International Data (1995)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Pricing of Options and Corporate Liabilities (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Legal Determinants of External Finance (1997)Investor protection and corporate governance (2000)The Colonial Origins of Comparative Development: An Empirical Investigation (2001)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Agency Problems and the Theory of the Firm (1980)Agency Theory: An Assessment and Review (1989)Strategic assets and organizational rent (1993)Dynamic capabilities and strategic management (1997)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION (1977)Reputation Acquisition in Debt Markets (1989)Finance and Growth: Theory and Evidence (2004)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1937The Nature of the Firm23,826 cited
  • 1983Separation of Ownership and Control19,446 cited
  • 1998Law and Finance17,902 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1996Agency costs of free cash flow, corporate finance, and takeovers9,308 cited
  • 1984Financial Intermediation and Delegated Monitoring8,393 cited
  • 1985The Structure of Corporate Ownership: Causes and Consequences6,243 cited
  • 1994The Benefits of Lending Relationships: Evidence from Small Business Data5,434 cited
  • 1996Theory of the firm; managerial Behavior, Agency Costs, and Ownership Structure4,245 cited
  • 1992Insiders and Outsiders: The Choice between Informed and Arm's-Length Debt3,902 cited
  • 1991Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt3,294 cited
  • 1995Diversification's effect on firm value3,069 cited
  • 1998Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure2,749 cited
  • 1996Law and Finance2,451 cited

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1994
Tobin's q, Corporate Diversification, and Firm Performance
2,437 cited

Cited by

  • 2007European banking: An overview296 cited
  • 2007Cooperative Banks and Financial Stability248 cited
  • 2009Do Bank Profits Converge?188 cited
  • 2013Ownership Structure and Risk-Taking: Comparative Evidence from Private and State-Controlled Banks in China183 cited
  • 2007Multiple directorships and corporate diversification171 cited
  • 2014Banks' Size, Scope and Systemic Risk: What Role for Conflicts of Interest?171 cited
  • 2008Bank Governance, Regulation, and Risk Taking161 cited
  • 2011Large Shareholder Diversification and Corporate Risk-Taking157 cited
  • 2010The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises152 cited
  • 2014Bank Size and Systemic Risk144 cited
  • 2007Cooperative Banks and Financial Stability138 cited
  • 2010Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2008–2009 Financial Crisis136 cited
  • 2007Regulating financial conglomerates125 cited
  • 2006Small European Banks: Benefits from Diversification?117 cited
  • 2007The Risks of Financial Institutions115 cited
  • 2012Competition and risk in Japanese banking112 cited