Firm Growth and Legal Environment
Abstract
An effective country‐level legal environment is crucial for promoting access to finance, development, and ultimately economic growth. Based on a sample of large companies listed in Continental Europe in the period 2002–2011, this study suggests that investor protection level is related to firm growth. Specifically, investor protection: a) enhances the growth rate of the firm; b) affects growth sensitivity to leverage and cash flow. These results...
Paper Details
Title
Firm Growth and Legal Environment
Published Date
Jan 21, 2018
Journal
Volume
48
Issue
1
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