Protection of minority interest and the
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Franco Modigliani; Enrico Perotti
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Article
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1997
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John Wiley and Sons
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English
β 93 KB
π 1 views
While excessive regulation is an obstacle to the development of financial markets, we argue that lack of basic rules or poorly enforced regulation may explain the relative importance across countries of banking and security markets in financing firms. A selective or arbitrary enforcement transforms