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Corporate Governance Capital Allocation within Conglomerates 24 May, 2012 - Singapore
At a special presentation in Singapore on 24 May, Florencio López de Silanes, Professor of Finance at EDHEC Business School, and Member of EDHEC-Risk Institute, will be drawing on his ongoing research to discuss how firms allocate capital internally across business units, and what is the importance of investment opportunities vs. the power of division managers in capital expenditure budget allocations. Professor López de Silanes will present new empirical evidence based on a unique dataset drawn from internal accounting systems of a worldwide conglomerate.

Programme
  • 5:45pm
    Registration

  • 6:00pm
    Presentation: Capital Allocation within Conglomerates
    Florencio López de Silanes, Professor of Finance, EDHEC Business School and Member, EDHEC-Risk Institute
    • How do firms allocate capital internally across business units? Do divisions with better investment opportunities receive larger capital expenditure budgets? Or is capital allocated based on the power and connections of division managers?
    • Building a unique dataset drawn from internal accounting systems of a worldwide conglomerate
    • Empirical findings: of capital buffers and connections
    • Implications for budgeting rules and managerial policies within firms

  • 7:30pm
    Question & Answer Session

  • 8.00pm
    Reception
About the Speaker

Professor López de Silanes’ research interests lie in the fields of international corporate finance and financial markets, and legal reform and privatisation. Prior to joining EDHEC, he was an advisor on these topics to several governments, international institutions and corporations. Among other distinctions, he received Harvard University’s Wells Prize for the Best Dissertation in Economics (1995), the Brattle Prize for Distinguished Paper in the Journal of Finance (1999), and the Jensen Prize for Best Papers in the Areas of Corporate Finance and Organisations in the Journal of Financial Economics (2000).
Event Details
  When   Between 24/05/2012 05:30 PM and 24/05/2012 09:00 PM
Where   EDHEC Risk Institute—Asia, One George Street, Seventh Floor, Singapore
 
Contact Details
  Name   Syh Jiuan NG
E-mail   syhjiuan.ng@edhec-risk.com
Phone   +65 6438 0030
 
Attachments
  Programme