Tomer Berkovitz

Learn More
This paper investigates the e¤ect of country-level …nancial development on the formation of corporate groups. Since crosscountry regressions are hard to interpret in a causal sense, we use exogenous industry measures to investigate a speci…c channel through which …nancial development may a¤ect group a¢ liation: internal capital markets. Using a(More)
  • 1