Počet záznamů: 1
Financial development and corporate growth in the EU single market
0361663 - NHU-N 2012 RIV GB eng J - Článek v odborném periodiku
Bena, J. - Jurajda, Štěpán
Financial development and corporate growth in the EU single market.
Economica. Roč. 78, č. 311 (2011), s. 401-428 ISSN 0013-0427
Grant CEP: GA MŠk LC542
Výzkumný záměr: CEZ:AV0Z70850503
Klíčová slova: financial development * corporate growth * access to financial markets
Kód oboru RIV: AH - Ekonomie
Impakt faktor: 1.152, rok: 2011
The establishment of the EU-15 ‘single market’ in 1993 brought about a high degree of similarity in firms’ growth opportunities across countries, while substantial diversity existed in the development of national financial markets. We compare within-industry growth rates of similar ‘single market’ firms facing financial systems of different depth and institutional quality as of 1993. Moving from the least to the most developed financial market within the EU-15 boosts firms’ annual value-added growth by about three percentage points. Our results also suggest that the growth gap due to initially underdeveloped financial systems was closed by 2003.
Trvalý link: http://hdl.handle.net/11104/0198929