Law, Stock Markets, and Innovation

Material TypeArticleLanguageEnglish
TitleLaw, Stock Markets, and Innovation Author(S)JAMES R. BROWN (Author)
Abstract  We study a broad sample of firms across 32 countries and find that strong shareholder protections and better access to stock market financing lead to substantially higher long-run rates of R&D investment, particularly in small firms, but are unimportant for fixed capital investment. ...Paginationp 1517-1549
Journal TitleThe Journal of Finance  
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