CiteWeb id: 19960000003

CiteWeb score: 27678

This paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. The results show that common†law countries generally have the strongest, and french civil law countries the weakest, legal protections of investors, with German†-and Scandinavian†-civil†law countries located in the middle. We also find that concentration of ownership of shares in the largest public companies is negatively related to investor protections, consistent with the hypothesis that small, diversified share†holders are unlikely to be important in countries that fail to protect their rights. (This abstract was borrowed from another version of this item.)

The publication "Law and Finance" is placed in the Top 1000 of the best publications in CiteWeb. Also in the category Economics it is included to the Top 100. Additionally, the publicaiton "Law and Finance" is placed in the Top 100 among other scientific works published in 1996.
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