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practice and poor institutions characterized by corruption and inefficiency. Alternative finance, including financing from all … external finance. Bank loans provide the second most important external financing source. Firms with access to bank or market … finance are not associated with higher growth rates. Our results indicate that bank and market finance is not superior to …
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The authors examine the legal and business environments, financing channels, and governance mechanisms of various types of firms in India and compare them to those from other countries. Despite its English commonlaw origin, strong legal protection provided by the law, and a democratic...
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