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2003 | nr 9 | 118--131
Tytuł artykułu

Law and Finance - State of the Art

Warianty tytułu
Języki publikacji
EN
Abstrakty
Artykuł przedstawia aktualny stan wiedzy w dziedzinie prawa i finansów ze szczególnym uwzględnieniem znaczenia otoczenia instytucjonalnego i prawnego dla rozwijających się rynków finansowych i rozwoju gospodarczego. Przegląd najnowszej literatury wskazuje na różnice pomiędzy podstawami prawnymi a egzekwowaniem prawa, które wpływa na strukturę własności, strukturę kapitału, strukturę majątku oraz nadzór korporacyjny przedsiębiorstwa. (M.P.)
EN
This article gives a state of the art of the so-called "law and finance" literature which stresses the importance of the institutional and legal environment for the development of financial markets and economic growth. (short original conclusion)
Rocznik
Numer
Strony
118--131
Opis fizyczny
Twórcy
Bibliografia
  • Beck, T., A. Demirgüc-Kunt and V. Maksimovic (2002), "Financial and legal constraints to firm growth: does size matter?", The World Bank, working paper, no. 2784.
  • Beck, T., R. Levine and N. Loayza (2000), "Finance and the sources of growth", Journal of Financial Economics, vol. 58, 261-300.
  • Bittlingmayer, G. (2000), "The market for corporate control (including takeovers)", in B. Bouckaert and G. De Geest (eds.), Encyclopedia of Law and Economics, Volume HI, The regulation of contracts, Edward Elgar, p. 725-771.
  • Carlin, W. and C. Mayer (1999), "Finance, investment and growth", Working paper, University of Oxford.
  • Cassimon, D. and P.J. Engelen (2002), "Legal and Institutional Barriers to Optimal Financial Architecture for New Economy Firms in Developing Countries", WIDER- The United Nations University, Helsinki, Discussion paper, forthcoming.
  • Claessens, S. and L. Laeven (2001), "Law, property rights and growth", Paper presented at the Third Annual Conference on Financial Market Development in Emerging and Transition Economies, Hong Kong, June 28-30.
  • Demirgüc-Kunt, A. and V. Maksimovic (1998), "Law, finance and firm growth", Journal of Finance, vol. 53, 2107-2137.
  • Demirgiüg-Kunt, A. and V. Maksimovic (1999), "Institutions, Financial Markets and Firm Debt Maturity", Journal of Financial Economics, 295-336.
  • Easterbrook, F. (1984), "Two agency cost explanations of dividends", American Economic Review, vol. 74, 650-659.
  • Engelen, P.J. (2002), Remedies to informational asymmetries in stock markets, PhD Dissertation, University of Antwerp, 342 p.
  • Fluck, Z. (1999), "The dynamics of the manager-shareholder conflict", Review of Financial Studies, vol. 12, no. 2, 379-404.
  • Glendon, M.A., M. Gordon and C. Osakwe (1992), Comparative Legal Traditions in a Nutshell, St. Paul, West Publishing Company.
  • Hay, J., A. Shleifer and R. Vishny (1996), "Towards a theory of legal reform", European Economic Review, 559-567.
  • Heremans, D. (2000), "Regulation of banking and financial markets", in B. Bouckaert and G. De Geest (eds.), Encyclopedia of Law and Economics, Volume III, The regulation of contracts, Edward Elgar, p. 813-836.
  • Jensen, M. (1986), "Agency costs of free cash flow, corporate finance, and takeovers", American Economic Review, vol. 76, 323-329.
  • Jensen, M. and W. Meckling (1976), "Theory of the firm: managerial behavior, agency costs, and capital structure", Journal of Financial Economics, vol. 3, 305-360.
  • Johnson, S., La Porta, F. Lopez-de-Silanes and A. Shleifer (2000), "Tunneling", American Economic Review Papers and Proceedings, 90, 22-27.
  • King, R. and R. Levine (1993), "Finance and growth: Schumpeter might be right", Quarterly Journal of Economics, vol. 108, 717-737.
  • Kitch, E. (2000), "Regulation of the securities market", in B. Bouckaert en G. De Geest (eds.), Encyclopedia of Law and Economics, Volume III, The regulation of contracts, Edward Elgar, p. 813-836.
  • Klapper, L. and I. Love (2002), "Corporate governance, investor protection and performance in emerging markets", World Bank working paper, no. 2818, 32p.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer (1998), "Corporate ownership around the world", NBER Working Paper, no. W6625, also published in Journal of Finance, 1999, vol. 54, 471-517.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer and R.W. Vishny (1996), "Law and Finance", NBER Working Paper, no. W5661, also published in Journal of Political Economy, 1998, vol. 106, 1113-1155.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer and R.W. Vishny (1997), "Legal determinants of external finance", NBER Working Paper, no. W5879, also published in Journal of Finance, 1997, vol. 52, 1131-1150.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer and R.W. Vishny (1998), "Agency problems and dividend policies around the world", NBER Working Paper, no. W6594, also published in Journal of Finance, 2000, vol. 55, 1-34.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer and R.W. Vishny (1999), "Investor protection and corporate valuation", NBER Working Paper, no. W7403.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer and R.W. Vishny (1999), "Investor protection: origins, consequences and reform", NBER Working Paper, no. W7428.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer and R.W. Vishny (2000), "Investor protection and corporate governance", Journal of Financial Economics, vol. 58, 3-27.
  • Levine, R. (1997), "Financial development and economic growth: views and agenda", Journal of Economic Literature, vol. 35, 688-726.
  • Levine, R. and S. Zervos (1998), "Stock markets, banks, and economic growth", American Economic Review, vol. 88, 537-558.
  • Myers, S. (1999), "Financial architecture", European Financial Management, 133-141.
  • Rajan, R. and L. Zingales (1998), "Financial dependence and growth", American Economic Review, vol. 88, 559-586.
  • Reynolds, T. and A. Flores (1989), Foreign Law: Current Sources of Basic Legislation in Jurisdictions of the World, Littleton, Rothman and Co.
  • Rousseau, P. and P. Wachtel (1998), "Financial intermediation and economic performance: historical evidence from five industrialized countries", Journal of Money Credit and Banking, 657-678.
  • Shleifer, A. and D. Wolfensohn (2002), "Investor protection and equity markets", Journal of Financial Economics.
  • Van Nieuwerburgh, S. and F. Buelens (2000), "Stock market development and economic growth in Belgium: 1300-2000", paper presented at the doctoral seminar of the University of Antwerp, December, 35 p.
  • Zweigert, K. and H. Kotz (1987), Introduction to Comparative Law, Oxford, Clarendon Press.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000000016088

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