Institutional Weakness and Stock Price Volatility
收藏NBER2006-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w12127
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资源简介：
We find an empirical regularity that stronger creditor protection reduces the volatility of stock market prices. We analyze two distinct mechanisms that characterize equity price volatility: government guarantees and creditor protection. Using a Tobin q model, we demonstrate that weak creditor
提供机构：
美国国家经济研究局
创建时间：
2006-03-01
