La Porta, Rafael; Lopez-de-Silanes, Florencio; … - In: Journal of Finance 52 (1997) 3, pp. 1131-50
Using a sample of forty-nine countries, the authors show that countries with poorer investor protections, measured by both the character of legal rules and the quality of law enforcement, have smaller and narrower capital markets. These findings apply to both equity and debt markets. In...