Legal Origin, Shareholder Protection and the Stock Market: New Challenges from Time Series Analysis
Year: 2008
Type: book-chapter
Abstract: This paper uses a new time series dataset of shareholder protection consisting of 60 annual legal indicators for the period 1970-2005 for France, Germany, the UK and the US. On the basis of these data it examines developments in shareholder protection and reassesses the claims that common-law countries have better shareholder protection than civil law countries. Furthermore it examines the relationship between legal changes and stock market development. It casts serious doubt on the claim that common-law countries have better shareholder protection which in turn leads to more stock market development.
Source: Edward Elgar Publishing eBooks
Authors: Sonja Fagernäs, Prabirjit Sarkar, Ajit Singh
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1569817367