Capturing Value From Investment Opportunities Under Product-Market Competition: When Do Internal Capital Markets Matter?
Published online on May 04, 2025
Abstract
Journal of Management, Volume 52, Issue 5, Page 2061-2090, May 2026.
The view that a business unit can better compete against product-market rivals if granted funding from its parent firm’s internal capital market (ICM) has lost traction within strategy, despite conflicting evidence. We develop a theory to explain when ...
The view that a business unit can better compete against product-market rivals if granted funding from its parent firm’s internal capital market (ICM) has lost traction within strategy, despite conflicting evidence. We develop a theory to explain when ...