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Cited by 474

The DOI matches its Crossref record; 46 of the 46 references it cites were found in a registry or an index.

Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy

Open access
Campello, Murillo·2002·The Journal of Finance
DOI 10.1111/1540-6261.00512
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Abstract

This paper looks at internal capital markets in financial conglomerates by comparing the responses of small subsidiary and independent banks to monetary policy. I find that internal capital markets in financial conglomerates relax the credit constraints faced by smaller bank affiliates. Further analysis indicates that those markets lessen the impact of Fed policies on bank lending activity. The paper also examines the role of internal capital markets in influencing the investment allocation process of those conglomerates. My findings suggest that frictions between conglomerate headquarters and external capital markets are at the root of investment inefficiencies generated by internal capital markets.

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Registry

Crossref · 10.1111/1540-6261.00512

Cites

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Metadata

Authors
Campello, M.
Venue
The Journal of Finance
Publisher
Wiley
Published
2002-12
Volume
57
Issue
6
Pages
2773-2805
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/1540-6261.00512
OpenAlex
W3122327925
Cited by
474
References
46
FWCI
28.96
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy. https://app.cochat.ai/papers/10.1111/1540-6261.00512
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Campello, M. (2002). Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy. The Journal of Finance. https://doi.org/10.1111/1540-6261.00512

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.