Capital Allocation by Private and Public Firms

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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

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Ketersediaan

Call Number	Location	Available
JFQA4801	PSB lt.dasar - Pascasarjana	1

Informasi Detail

Judul Seri

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No. Panggil

JFQA4801

Penerbit

Cambridge : Cambridge University Press.,

Deskripsi Fisik

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Bahasa

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

Economic growth
Corporate investment
Stock market development
Capital allocation
Listed vs. unlisted
Public vs. private

Info Detail Spesifik

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Pernyataan Tanggungjawab

pa

Versi lain/terkait

Lampiran Berkas

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