Durnev, Art; Li, Kan; Mørck, Randall; Yeung, Bernard - In: The Economics of Transition 12 (2004) 4, pp. 593-634
Recent work showing that a sounder financial system is associated with faster economic growth has important implications for transition economies. Stock prices in developed economies move in highly firm-specific ways that convey information about changes in firms' marginal value of investment....