@techreport{eprints3842,
       publisher = {IMT School for Advanced Studies Lucca},
           month = {November},
            type = {EIC working paper series},
     institution = {IMT School for Advanced Studies Lucca},
          author = {Laura Gianfagna and Armando Rungi},
           title = {Does corporate control matter to financial volatility?},
            year = {2017},
        abstract = {In our contribution we study how the ownership channel affects the stock price volatility
of listed stock markets. In particular, we study how a linkage between a parent company and
its affiliates may drive differences in stock price volatility, within and across countries. We
exploit a worldwide dataset of stock-exchange listed firms, controlling for several financial
dimensions, to assess whether business groups matter to financial volatility. The answer is
positive and does not depend on the definition of volatility used. Our results contribute to
the corporate finance literature by defining the role of multinational corporate control in
financial markets, and to the financial stability literature by assessing corporate control as
an undiscovered channel of transmission for financial shocks.},
             url = {http://eprints.imtlucca.it/3842/},
        keywords = {Keywords: corporate control, stock price volatility, multilevel model.  -  Jel codes: F23, G32}
}