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factors – financial, legal, and labor market institutions – affect the group-innovation relationship. The paper outlines two … innovation performance of GAFs is stronger for national economies with weaker legal institutions (as predicted by the …
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-specific institutional factors – financial, legal, and labor market institutions – affect the group-innovation relationship. The empirical …, GAFs are more innovative than SAFs: we estimate the innovation propensity of GAFs to be 9% higher than that of SAFs …
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Drawing from the literature on markets and market development we develop hypotheses on the startup and growth of formal business by business groups relative to independent entrepreneurs after reforms. We then test the hypotheses in a large sample of firms that were started up after reforms in...
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