Internal Capital Market Controls and Financial Performance in Multidivisional Firms
Abstract
It is proposed that, within the population of M-form firms, the control systems necessary to realize economic benefits from interrelationships between subunits o f a firm are incompatible with the systems necessary to realize benef its from an M-form type internal capital market. This hypothesis is t ested on 156 large U.K. firms. Questionnaire data are used to classif y the firms according to their internal control characteristics. The findings...
Paper Details
Title
Internal Capital Market Controls and Financial Performance in Multidivisional Firms
Published Date
Sep 1, 1988
Volume
37
Issue
1
Pages
67 - 67
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