Internal Capital Markets in Times of Crisis: The Benefit of Group Affiliation in Italy
NBER Working Paper No. 23541
---- Acknowledgements ----
We would like to thank Giorgio Albareto, Rui Albuquerque, Riccardo De Bonis, Luigi Guiso, Fabiano Schivardi and participants to the Boston College Macro Lunch and to the Carroll School Finance Seminar for useful comments and suggestions. We are also grateful to Cerved for access to the Gruppi Italiani data set. The views expressed in this paper are those of the authors’ alone and do not necessarily represent those of the institutions with which they are affiliated or the views of the National Bureau of Economic Research.