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Cited by 267

The DOI matches its Crossref record; 87 of the 87 references it cites were found in a registry or an index.

Divisional Managers and Internal Capital Markets

Open access
DUCHIN, RAN, SOSYURA, DENIS·2013·The Journal of Finance
DOI 10.1111/jofi.12003
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Abstract

Using hand‐collected data on divisional managers at S&P 500 firms, we study their role in internal capital budgeting. Divisional managers with social connections to the CEO receive more capital. Connections to the CEO outweigh measures of managers' formal influence, such as seniority and board membership, and affect both managerial appointments and capital allocations. The effect of connections on investment efficiency depends on the tradeoff between agency and information asymmetry. Under weak governance, connections reduce investment efficiency and firm value via favoritism. Under high information asymmetry, connections increase investment efficiency and firm value via information transfer.

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Registry

Crossref · 10.1111/jofi.12003

Cites

87 of 87 references verified0 citation errors · 0 not checkable

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Citations

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Metadata

Authors
DUCHIN, R., & SOSYURA, D.
Venue
The Journal of Finance
Publisher
Wiley
Published
2013-03-07
Volume
68
Issue
2
Pages
387-429
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/jofi.12003
OpenAlex
W3125990219
Cited by
267
References
87
FWCI
61.19
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Divisional Managers and Internal Capital Markets. https://app.cochat.ai/papers/10.1111/jofi.12003
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DUCHIN, R., & SOSYURA, D. (2013). Divisional Managers and Internal Capital Markets. The Journal of Finance. https://doi.org/10.1111/jofi.12003

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.