
	Academic Sessions


	Session 50 - Internal Capital Markets Friday, August 23, 16:30 - 18:00, Room E Chairperson: Gabriella Chiesa (Università di Bologna) Presentations Allocation of Decision-making Authority Milton Harris (University of Chicago) Artur Raviv (Northwestern University) Discussant: Sudipto Dasgupta (Hong Kong University of Science & Technology) On the Value of Influence Activities: Is Lobbying in Internal Capital Markets Always Detrimental to the Firm? Volker Laux (Johann Wolfgang Goethe-Universität Frankfurt/M.) Discussant: Andreas Park (University of Cambridge) Internal Capital Markets: The Insurance-contagion Trade-off Ulrich Hege (HEC School of Management) Lorand Ambrus-Lakatos (Central European University) Discussant: Belén Villalonga (Harvard University)

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