Internal Capital Market and Capital Misallocation: Evidence from Corporate Spinoffs
This study investigates the importance of reduced capital misallocation in explaining the gains in corporate spinoffs. The capital misallocation hypothesis asserts that the internal capital market of a diversified firm fails to meet the needs of the relatively low growth divisions for less investmen...
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| Format: | Others |
| Language: | English |
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University of North Texas
2001
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| Online Access: | https://digital.library.unt.edu/ark:/67531/metadc2862/ |