Finance, Firm Size, and Growth

• Tác giả: Thorsten Beck
• Ngôn ngữ: eng
• Ký hiệu phân loại: 658.1 Organization and finance
• Thông tin xuất bản: 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 322791
• Chủ đề: 1. Capital and Ownership Structure G320; 2. Financial Risk and Risk Management; 3. Financing Policy; 4. Firm Performance: Size, Diversification, and Scope L250; 5. Measurement of Economic Growth

Tóm tắt

Although research shows that financial development accelerates aggregate economic growth, economists have not resolved conflicting theoretical predictions and ongoing policy disputes about the cross-firm distributional effects of financial development. Using cross-industry, cross-country data, the results are consistent with the view that financial development exerts a disproportionately positive effect on small firms. These results have implications for understanding the political economy of financial sector reform.