Law and firms' access to finance
By: Thorsten Beck, Asli Demirguc-Kunt, Ross Levine.
Contributors: Demirgüç-Kunt, Aslı, 1961-; Levine, Ross.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10687; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10687.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Business enterprises -- Finance.; Finance -- Law and legislation.
Description: "This paper contributes to the literature on how a country's legal origin influences the operation of its financial system by using firm-level survey data on the obstacles that firms face in raising external finance.  The paper assesses two channels through which legal origin may influence the financial system.  It finds that the adaptability of a country's legal system is more important for explaining the obstacles that firms face in accessing external finance than the political independence of the judiciary"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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Mode of access: World Wide Web.