Add to ORKGThis paper offers the first comprehensive analysis of legal change in the protection of shareholder and creditor rights in transition economies and its impact on the propensity of firms to raise external finance. Following La Porta et al. (1998), the paper constructs an expanded set of legal indices to capture a range of potential conflicts between different stakeholders of the firm. It supplements the analysis of the law on the books with an analysis of the effectiveness of legal institutions. Our main finding is that the effectiveness of legal institutions has a much stronger impact on external finance than does the law on the books, despite legal change that has substantially improved shareholder and creditor rights. This finding support...
Much attention has been devoted in recent literature to the claim that a country's "legal origin" ma...
Since the 1990s, economists have begun to pay close attention to the role of law and legal instituti...
Using a survey of over 4,000 firms in 21 transition economies, this paper investigates how legal ext...
This paper offers the first comprehensive analysis of legal change in the protection of shareholder ...
This paper offers a first comprehensive analysis of legal change in shareholder and creditor rights ...
This paper analyses changes in the legal protection of shareholder and creditor rights in 24 transit...
Legal origins theory suggests that law reform,strengthening shareholder and creditor rights, should ...
This paper provides a concise, selective review of research on the role of legal institutions in sha...
The present work analyze the effect of the legal protection of outsider investors on the financial m...
We examine the relationship between creditor protection, law reform and credit expansion using longi...
A burgeoning literature finds that financial development exerts a first-order impact on long-run eco...
This article reviews aspects of law and practice in relation to financial development, especially i...
The "law and finance theory" predicts that the common law system provides the best basis for financi...
The transition from communism to capitalism was necessarily accompanied by a sudden and abrupt incre...
The transition from communism to capitalism was necessarily accompanied by a sudden and abrupt incre...
Much attention has been devoted in recent literature to the claim that a country's "legal origin" ma...
Since the 1990s, economists have begun to pay close attention to the role of law and legal instituti...
Using a survey of over 4,000 firms in 21 transition economies, this paper investigates how legal ext...
This paper offers the first comprehensive analysis of legal change in the protection of shareholder ...
This paper offers a first comprehensive analysis of legal change in shareholder and creditor rights ...
This paper analyses changes in the legal protection of shareholder and creditor rights in 24 transit...
Legal origins theory suggests that law reform,strengthening shareholder and creditor rights, should ...
This paper provides a concise, selective review of research on the role of legal institutions in sha...
The present work analyze the effect of the legal protection of outsider investors on the financial m...
We examine the relationship between creditor protection, law reform and credit expansion using longi...
A burgeoning literature finds that financial development exerts a first-order impact on long-run eco...
This article reviews aspects of law and practice in relation to financial development, especially i...
The "law and finance theory" predicts that the common law system provides the best basis for financi...
The transition from communism to capitalism was necessarily accompanied by a sudden and abrupt incre...
The transition from communism to capitalism was necessarily accompanied by a sudden and abrupt incre...
Much attention has been devoted in recent literature to the claim that a country's "legal origin" ma...
Since the 1990s, economists have begun to pay close attention to the role of law and legal instituti...
Using a survey of over 4,000 firms in 21 transition economies, this paper investigates how legal ext...