Listing Advantages Around the World / Kenichi Ueda, Somnath Sharma.

Format:

Book

Author/Creator:

Ueda, Kenichi.

Contributor:

National Bureau of Economic Research.

Sharma, Somnath.

Series:

Working Paper Series (National Bureau of Economic Research) no. w26446.

NBER working paper series no. w26446

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2019.

Summary:

Using the firm-level data of 33 countries over 10 years (from 2008-2017), we find that the listed firms, on average, have lower marginal products of capital (measured by return on assets) than the unlisted firms in many countries. This implies that the listed firms face less financial constraints. Moreover, we investigate the institutional factors that exacerbate or mitigate the listing advantages across the countries. The listing advantages seem enlarged with better corporate governance and narrowed with stronger creditor's rights.

Notes:

Print version record

November 2019.