eprintid: 3842
rev_number: 10
eprint_status: archive
userid: 6
dir: disk0/00/00/38/42
datestamp: 2017-11-29 09:28:46
lastmod: 2017-11-29 09:28:46
status_changed: 2017-11-29 09:28:46
type: monograph
metadata_visibility: show
creators_name: Gianfagna, Laura
creators_name: Rungi, Armando
creators_id: laura.gianfagna@imtlucca.it
creators_id: armando.rungi@imtlucca.it
title: Does corporate control matter to financial volatility?
ispublished: pub
subjects: HB
subjects: HG
divisions: EIC
full_text_status: public
monograph_type: imt_eic_working_paper
keywords: Keywords: corporate control, stock price volatility, multilevel model.  -  Jel codes: F23, G32
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.
date: 2017-11
date_type: published
number: 9
publisher: IMT School for Advanced Studies Lucca
pages: 30
institution: IMT School for Advanced Studies Lucca
issn: 2279-6894
citation:   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.      
document_url: http://eprints.imtlucca.it/3842/1/EIC_WP_9_2017.pdf