Shareholder Protection, Stock Markets and Cross-Border Mergers
Centre for Business Research, University of Cambridge Working Paper no. 509
10 Pages Posted: 16 Aug 2018
Date Written: August 3, 2018
This paper is the first one that uses a panel data of different types of shareholder protection in order to examine (i) the effect of such laws on stock market development and (ii) the convergence of shareholder protection laws through cross-border mergers and acquisitions. We find significant results for enabling laws but less so for paternalistic ones.
Keywords: law and finance, shareholder protection, corporate governance, corporate finance
JEL Classification: G32, K22, N20, O16, P50
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