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The Law and Economics of Self-Dealing / Simeon Djankov, Rafael LaPorta, Florencio Lopez-de-Silanes, Andrei Shleifer.
- Format:
- Book
- Author/Creator:
- Djankov, Simeon.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w11883.
- NBER working paper series no. w11883
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Summary:
- We present a new measure of legal protection of minority shareholders against expropriation by corporate insiders: the anti-self-dealing index. Assembled with the help of Lex Mundi law firms, the index is calculated for 72 countries based on legal rules prevailing in 2003, and focuses on private enforcement mechanisms, such as disclosure, approval, and litigation, governing a specific self-dealing transaction. This theoretically-grounded index predicts a variety of stock market outcomes, and generally works better than the commonly used index of anti-director rights.
- Notes:
- Print version record
- December 2005.
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