Financial And Legal Constraints To Firm Growth: Tha Case Of Italy
AbstractThe aim of this study is to confirm empirically the implications of the theory about the law-finance-growth nexus. In order to verify the predictions of the theory, a panel data including three different types of data is used. All the data are referred to Italian provinces. The empirical analysis shows that between firms’ growth and financial development there is a first-order relationship, while between firms’ growth and legal enforcement as measured by the efficiency of the judicial system there is a second-order relationship.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 9558.
Date of creation: 2008
Date of revision:
enforcement; judicial efficiency; financial development; firm’s growth;
Other versions of this item:
- Domenico Sarno, 2008. "Financial And Legal Constraints To Firm Growth: The Case Of Italy," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 3(3(5)_Fall), pages 293-305.
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-07-20 (All new papers)
- NEP-CFN-2008-07-20 (Corporate Finance)
- NEP-EFF-2008-07-20 (Efficiency & Productivity)
- NEP-LAW-2008-07-20 (Law & Economics)
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- Filipe Silva & Carlos Carreira, 2012.
"Measuring Firms' Financial Constraints: A Rough Guide,"
Faculdade de Economia, Universidade de Coimbra, issue 36, pages 23-46, December.
- Filipe Silva & Carlos Carreira, 2012. "Measuring Firms' Financial Constraints: A Rough Guide," GEMF Working Papers 2012-14, GEMF - Faculdade de Economia, Universidade de Coimbra.
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