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Keywords: Internal capital market
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Journal Articles
When oversight overreaches: business groups, cash holding, and related-party reform paradox
Available to Purchase
International Journal of Managerial Finance (2026) 22 (2): 286–308.
Published: 10 February 2026
...Chhavi Jain; Jijo Lukose PJ; Nemiraja Jadiyappa Purpose We investigate the cash holding of business group ( BG ) firms in response to a regulation that restricts the fund flow within the internal capital market ( ICM ) of group firms. We leverage BG firms' heterogeneity to understand...
