The influence of financial and legal institutions on firm size

被引：91

作者：

Beck, Thorsten

Demirguc-Kunt, Asli

Maksimovic, Vojislav

机构：

[1] World Bank, Washington, DC 20433 USA

[2] Univ Maryland, Robert H Smith Sch Business, College Pk, MD 20742 USA

来源：

JOURNAL OF BANKING & FINANCE | 2006年 / 30卷 / 11期

关键词：

financial development; legal institutions; firm size;

D O I：

10.1016/j.jbankfin.2006.05.006

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Theory does not predict an unambiguous relationship between a country's financial and legal institutions and firm size. Using data on the largest industrial firms for 44 countries, we find that firm size is positively related to financial intermediary development, the efficiency of the legal system and property rights protection. We do not find any evidence that firms are larger in order to internalize the functions of the banking system or to compensate for the general inefficiency of the legal system. (c) 2006 Elsevier B.V. All rights reserved.

引用

页码：2995 / 3015

页数：21

共 43 条

[1] The effect of external finance on the equilibrium allocation of capital [J].