Corporate Governance, Law and Finance (Paperback) (ISBN-13: 9783639312041)

Following the initial publication of La Porta et al. (1997) an ever growing number of researchers published empirical evidence on the influence of corporate governance rules on external financing. Whereas the empirical links have been researched extensively, suitable analytical models are still rare. This book extends Holmstr and Tirole (1997)'s model of corporate finance to predict the influence of legal changes on outside funding. Finally, the book summarizes the empirical law and finance literature. I find that better corporate governance rules raise the number of firms that receive external financing as well as the amount of investment per firm. At last it is found that the aggregate investment shifts upwards once better corporate governance rules are introduced.

Author: Philipp Kuhn-R馮nier
ISBN-10: 363931204X
ISBN-13: 9783639312041
Publisher: VDM Verlag
Language: English
Published: 11/16/2010
Pages: 64
Format: Paperback
Weight: 0.23lbs
Size: 9.00h x 6.00w x 0.15d