Hale, Galina; Razin, Assaf; Tong, Hui - In: Economica 81 (2014) 322, pp. 329-347
type="main" xml:id="ecca12072-abs-0001" <p>We develop a model predicting two channels through which creditor protection affects stock prices: (1) the probability of a liquidity crisis leading to a binding investment-finance constraint falls with better creditor protection; (2) the stock prices...</p>
