BECK, THORSTEN; DEMIRGÜÇ-KUNT, ASLI; MAKSIMOVIC, VOJISLAV - In: Journal of Finance 60 (2005) 1, pp. 137-177
Using a unique firm-level survey database covering 54 countries, we investigate the effect of financial, legal, and corruption problems on firms' growth rates. Whether these factors constrain growth depends on firm size. It is consistently the smallest firms that are most constrained. Financial...