دانلود مقاله ISI انگلیسی شماره 46020
عنوان فارسی مقاله

حقوق مالکیت و رابطه رشد بازار سهام

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
46020 2015 16 صفحه PDF سفارش دهید 6690 کلمه
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Property rights and the stock market-growth nexus
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : The North American Journal of Economics and Finance, Volume 32, April 2015, Pages 48–63

کلمات کلیدی
حقوق مالکیت - سهامداران اقلیت - توسعه بازار سهام - رشد - آستانه
پیش نمایش مقاله
پیش نمایش مقاله حقوق مالکیت و رابطه رشد بازار سهام

چکیده انگلیسی

Using threshold estimation techniques, this study examines whether the growth effect of stock market development differs according to the different levels of property rights and minority shareholders protection in a cross-section of 85 jurisdictions during the post-crisis period. The results demonstrate that the impact of stock market liquidity on growth is positive and significant only in jurisdictions where there is high level of property rights protection. Similar effect is discerned in the case of strong minority shareholders protection. Using the market size as a measure of stock market development, the paper also documents a positive growth effect of market size when property rights and minority shareholders protection are strong. However, there is mixed evidence in the low to medium degrees of protection. Further analyses using other broader governance indicators as threshold variables and instrumental variable threshold regressions reaffirm the main findings. The study upholds the “better finance, more growth” proposition and contributes to the identification of thresholds above which institutional quality can positively shape the impact of stock market on economic growth.

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.