Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Ownership and Allocation of Capital: Evidence from 44 Countries
Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
Indiana Univ, Sch Publ & Environm Affairs, Bloomington, IN 47405 USA.
2014 (English)In: Journal of Institutional and Theoretical Economics, ISSN 0932-4569, Vol. 170, no 3, 427-452 p.Article in journal (Refereed) Published
Abstract [en]

In an efficient economy, capital should be quickly (re)allocated from declining firms and sectors to more profitable investment opportunities. This process is affected by the concentration of corporate control, which in turn is affected by market institutions. We employ a panel of 11,984 firms across 44 countries to estimate the functional efficiency of capital markets. We adapt a measure for the efficiency of capital allocation using the accelerator principle. Our empirical results show weak property rights and highly concentrated ownership reduce the functional efficiency of capital markets.

Place, publisher, year, edition, pages
2014. Vol. 170, no 3, 427-452 p.
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-25906DOI: 10.1628/093245614X14006508036247000000ISI: 000341122400003Local ID: IHHCeFEOISOAI: oai:DiVA.org:hj-25906DiVA: diva2:789173
Available from: 2015-02-18 Created: 2015-02-18 Last updated: 2015-03-09Bibliographically approved

Open Access in DiVA

No full text

Other links

Publisher's full textFulltext

Search in DiVA

By author/editor
Eklund, Johan E.
By organisation
JIBS, Center for Family Enterprise and Ownership
In the same journal
Journal of Institutional and Theoretical Economics
Economics

Search outside of DiVA

GoogleGoogle Scholar

Altmetric score

Total: 311 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf