Business, Management and Accounting
4 years ago

Legal protections impact investor rights and ownership concentration in global markets.

1 view
Journal of Political Economy
Law and Finance
Rafael La Porta, Florencio López‐de‐Silanes, Andrei Shleifer, Robert W. Vishny

Paper Summary

The paper looks at laws that protect shareholders and creditors in different countries. Common-law countries have the strongest protections, while French-civil-law countries have the weakest. Ownership concentration in big companies is linked to weaker investor protections.

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