Better developed legal and political institutions result in greater availability of reliable firm-specific information. When stock prices reflect more firm-specific information there will be less stock price synchronicity. This paper traces the experience of China, an economy undergoing dramatic...

This article examines the evolution of the English joint stock company during the seventeenth and early eighteenth centuries from an institutional perspective. This period saw the development of the chartered corporation, best exemplified by the East India Company, and later the unincorporated...