relation: http://eprints.imtlucca.it/3842/
title: Does corporate control matter to financial volatility?
creator: Gianfagna, Laura
creator: Rungi, Armando
subject: HB Economic Theory
subject: HG Finance
description: 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.
publisher: IMT School for Advanced Studies Lucca
date: 2017-11
type: Working Paper
type: NonPeerReviewed
format: application/pdf
language: en
rights: cc_by_nd
identifier: http://eprints.imtlucca.it/3842/1/EIC_WP_9_2017.pdf
identifier:   Gianfagna, Laura and Rungi, Armando  Does corporate control matter to financial volatility?  EIC working paper series  #9/2017    IMT School for Advanced Studies Lucca    ISSN 2279-6894.