کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
884840 | 912421 | 2006 | 38 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Economic growth and concentrated ownership in stock markets
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
This paper presents a theoretical framework to analyze the implications on economic growth of a stock market that grows but is not well-developed in other aspects (concentrated ownership, low liquidity, poor legal and judiciary systems, and credit constraints). Family firms are modeled as consisting of risk-averse owners concerned with keeping the control of their firms while deciding to go public. It is suggested that in this type of economies there may be a non-linear relationship between stock market size and economic growth and that, in particular, the formation of an equity market may retard economic growth when institutions are weak.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Behavior & Organization - Volume 59, Issue 2, February 2006, Pages 249–286
Journal: Journal of Economic Behavior & Organization - Volume 59, Issue 2, February 2006, Pages 249–286
نویسندگان
Gonzalo Castañeda,