The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment

Jeremy Stein; David S. Scharfstein

DEPARTMENT OF ECONOMICS | FACULTY OF ARTS AND SCIENCES | HARVARD.EDU

The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment

Citation:

Stein, Jeremy, and David S Scharfstein. 2000. The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment. Journal of Finance LV, no. 6: 2537-2564.

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Jeremy Stein

Moise Y. Safra Professor of Economics

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The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment

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