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Law and Finance c. 1900
Musacchio, Aldo - 2010
How persistent are the effects of legal institutions adopted or inherited in the distant past? A substantial literature argues that legal origins have persistent effects that explain clear differences in investor protections and financial development around the world today (La Porta et al, 1998,...
Persistent link: https://www.econbiz.de/10012462439
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Law and Finance
Porta, Rafael La - 1996
This paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. The results show that common law countries generally have the best, and French civil law countries the worst, legal...
Persistent link: https://www.econbiz.de/10012473181
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Law and Firms' Access to Finance
Beck, Thorsten - 2004
system by using firm-level survey data on the obstacles that firms face in raising external finance. The paper assesses two … system is more important for explaining the obstacles that firms face in accessing external finance than the political …
Persistent link: https://www.econbiz.de/10012468004
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Law and firms' access to finance
Beck, Thorsten - 2004
system by using firm-level survey data on the obstacles that firms face in raising external finance. The paper assesses two … system is more important for explaining the obstacles that firms face in accessing external finance than the political …
Persistent link: https://www.econbiz.de/10010523108
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Complementing business training with access to finance : evidence from SMEs in Kenya
Ashraf, Anik; Lyons, Elizabeth - 2023
This paper investigates the complementarity between business training and access to financial capital for small and medium enterprises (SMEs) in Kenya. All participants in a business training program are offered training. One-third of participants are offered loans immediately after training...
Persistent link: https://www.econbiz.de/10014332125
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Gendered access to finance : the role of team formation, idea quality, and implementation constraints in business evaluations
Bartoš, Vojtěch; Castro, Silvia; Czura, Kristina; … - 2023
We analyze gender discrimination in entrepreneurship finance. Access to finance is crucial for entrepreneurial success … an additional benefit of equalizing access to finance and ultimately stimulating growth. …
Persistent link: https://www.econbiz.de/10014388597
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Gender, access to finance, occupational choice, and business performance
Gazanchyan, Nelli S.; Hashimzade, Nigar; Rodionova, Yulia; … - 2017
We present a theoretical and empirical analysis of the links between the gender of an entrepreneur, access to finance … medium enterprises, possibly, because in large firms borrowing is a less essential source of finance. An important policy …
Persistent link: https://www.econbiz.de/10011610923
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Sources of finance and growth
Marjit, Sugata; Pranab Kumar Das - 2024
The paper provides an analysis of the simultaneous existence of the formal and the informal sources of finance and …, viz. formal banking sector with lower interest rate with finance constraint and an informal credit market with a higher … the informal source of finance easily the growth rate could have been lower. The premium associated with the differential …
Persistent link: https://www.econbiz.de/10015098691
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A Sufficient Statistics Approach for Aggregating Firm-Level Experiments
Sraer, David - 2018
We consider a dynamic economy populated by heterogeneous firms subject to generic capital frictions: adjustment costs, taxes and financing constraints. A random subset of firms in this economy receives an empirical "treatment", which modifies the parameters governing these frictions. An...
Persistent link: https://www.econbiz.de/10012453505
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Financing as a Supply Chain : The Capital Structure of Banks and Borrowers
Gornall, William - 2013
We develop a model of the joint capital structure decisions of banks and their borrowers. Strikingly high bank leverage emerges naturally from the interplay between two sets of forces. First, seniority and diversification reduce bank asset volatility by an order of magnitude relative to that of...
Persistent link: https://www.econbiz.de/10012459028