Stock Market Developments and Capital Accumulation in India: Does Better Shareholder Protection Matter?
AbstractThe paper analyses a new leximetric dataset for India relating to the protection of shareholders of the limited liability corporate sector and examines the impact of the changes in the shareholder protection law on economic development through stock market development. It finds no long-term relationship between corporate governance relating to shareholder protection and stock market developments and no relevance of stock market for economic development through capital accumulation.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 4996.
Date of creation: Sep 2007
Date of revision:
Stock Market; Corporate Governance; Development; India;
Find related papers by JEL classification:
- K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
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