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The efficiency of internal capital markets: Evidence from the Annual Capital Expenditure Survey |
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| Authors: | Sumit Agarwal I-Ming Chiu Victor Souphom Guy M. Yamashiro |
| Affiliation: | a Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, IL 60604, USA;b Rutgers University, Camden, Department of Economics, 311 North 5th Street, Camden, NJ 08102, USA;c U.S. Census Bureau-Center for Economic Studies, Suitland Federal Center, Washington, DC 20233, USA;d California State University, Long Beach, Department of Economics, 1250 Bellflower Blvd, Long Beach, CA 90840-4607, USA |
| Abstract: | |
| Keywords: | Diversified firms Internal capital market Resource allocation Firm value |
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