Abstract
An effective country-level legal environment is crucial for promoting access to finance, development, and ultimately economic growth. Based\r\non a sample of large companies listed in Continental Europe in the period 2002–2011, this study suggests that investor protection level is related to firm growth. Specifically, investor protection: a) enhances the growth rate of the firm; b) affects growth sensitivity to leverage and cash flow. These results provide empirical support to recommendations by policy makers advocating for increased investor protection in Europe.
Lingua originale | Inglese |
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pagine (da-a) | 1-24 |
Numero di pagine | 24 |
Rivista | Economic Notes |
Numero di pubblicazione | On line pub |
DOI | |
Stato di pubblicazione | Pubblicato - 2018 |
All Science Journal Classification (ASJC) codes
- Economia ed Econometria
Keywords
- Cash Flow
- Debt
- Firm Growth
- Investor Protection