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来源类型Working Paper
规范类型报告
DOI10.3386/w26446
来源IDWorking Paper 26446
Listing Advantages Around the World
Kenichi Ueda; Somnath Sharma
发表日期2019-11-11
出版年2019
语种英语
摘要Using the firm-level data of 33 countries over 10 years (from 2008-2017), we find that the listed firms, on average, have lower marginal products of capital (measured by return on assets) than the unlisted firms in many countries. This implies that the listed firms face less financial constraints. Moreover, we investigate the institutional factors that exacerbate or mitigate the listing advantages across the countries. The listing advantages seem enlarged with better corporate governance and narrowed with stronger creditor's rights.
主题Macroeconomics ; Consumption and Investment ; Financial Economics ; Corporate Finance
URLhttps://www.nber.org/papers/w26446
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/584118
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Kenichi Ueda,Somnath Sharma. Listing Advantages Around the World. 2019.
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