DocumentCode
3467490
Title
Corporate Diversification Discounts: Asymmetric Information and Investment Misallocation
Author
Zhong-Xue Han ; Juan Shang ; Tingting Zhou
Author_Institution
Sch. of Econ. & Manage., Xian Electron Sci. & Technol. Univ., Xian
fYear
2008
fDate
12-14 Oct. 2008
Firstpage
1
Lastpage
4
Abstract
This paper builds a basic model of studying diversified corporation discounts from information asymmetry in internal capital market. Divisional managers exaggerate the project information to corporate headquarter, which lead to misallocation investment resources and harm corporate value. By using Chinese listed firms as study sample, this paper testifies the proposition of the model.
Keywords
corporate modelling; investment; corporate diversification discounts; information asymmetry; internal capital market; investment misallocation; Data analysis; Educational institutions; Electrons; Energy management; Finance; Investments; Project management; Resource management; Technology management; Testing;
fLanguage
English
Publisher
ieee
Conference_Titel
Wireless Communications, Networking and Mobile Computing, 2008. WiCOM '08. 4th International Conference on
Conference_Location
Dalian
Print_ISBN
978-1-4244-2107-7
Electronic_ISBN
978-1-4244-2108-4
Type
conf
DOI
10.1109/WiCom.2008.2332
Filename
4680521
Link To Document