publication . Article . 1988

Internal Capital Market Controls and Financial Performance in Multidivisional Firms

Charles W. L. Hill;
Open Access
  • Published: 01 Jan 1988 Journal: The Journal of Industrial Economics, volume 37, page 67 (issn: 0022-1821, Copyright policy)
  • Publisher: JSTOR
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 provide tentative support for the hypothesis. Copyright 1988 by Blackwell Publishing Ltd.
free text keywords: Economics and Econometrics, Accounting, General Business, Management and Accounting, Economics, Questionnaire data, Capital market, Financial performance, Population, education.field_of_study, education, Publishing, business.industry, business, Industrial organization, Economic benefits
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