Shareholder protection and stock market development: An empirical test of the legal origins hypothesis
Using a panel data set covering a range of developed and developing countries, we show that common‐law systems were more protective of shareholder interests than civil‐law ones in the period 1995–2005. However, civilian systems were catching up, suggesting that legal origin was not much of an obstac...
| Main Authors: | , , , |
|---|---|
| Format: | Journal article |
| Published: |
Wiley
2009
|