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Capital Allocation by Private and Public Firms
We compare investment policies across public and private firms in different institutional settings. Using a large cross-country dataset, we find that public listed firms are better positioned to take advantage of growth opportunities than private firms. Specifically, public listed firms exhibit higher investment sensitivity to growth opportunities than private firms. This differential, however, only exists in countries with well-developed stock markets. Further, the relative advantage public firms have at allocating capital depends on the degree of agency costs and reliance on external equity..Printed Journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| JFQA4801 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | Cambridge: Cambridge University Press |
|---|---|
| Edisi | - |
| Subjek | Economic growth Corporate investment Stock market development Capital allocation Listed vs. unlisted Public vs. private |
| ISBN/ISSN | - |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |