Leverage and Investment in Diversified Firms

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Corporate Financial and Investment Policies when Future Financing is Not Frictionless (2011, unknown): “be as pro…table as the ones they took prior to the recapitalization. Ahn, Denis, and Denis (2006)”
CEO Duality, Agency Costs, and Internal Capital Allocation Efficiency (2019, unknown): “…of internal capital in diversified firms leads to investment inefficiencies that are value-destructive (for example, Shin and Stulz, 1998; Rajan et al ., 2000; Scharfstein and Stein, 2000; Ahn and Denis, 2004; Ahn et al ., 2006; Datta et al ., 2009; Hovakimian, 2011; Duchin and Sosyura, 2013).”
Do Financial Conglomerates Create or Destroy Economic Value (2009, unknown): “…usually ends in 1997 or earlier, even for recent studies (e.g., the sample periods in Campa and Kedia (2002), Fauver, Houston, and Naranjo (2004), and Ahn, Denis, and Denis (2006) end in 1996, 1995, and 1997, respectively) and therefore we do not know whether the subsequent increase in the…”
Leverage and investment under a state-owned bank lending environment : evidence from China (2008, methodology): “and Ahn et al. (2006) all report a negative relation between investment and leverage although the correlation is much stronger for firms with low growth. This evidence is consistent with the overinvestment story (Stulz, 1990) where leverage inhibits managers of low growth firms from investing in non”