Investor Protection and Corporate Valuation (2002)
by
Rafael La Porta
,
Florencio Lopez-de-silanes
,
Andrei Shleifer
,
Robert Vishny
| Venue: | Journal of Finance |
| Citations: | 82 - 4 self |
BibTeX
@ARTICLE{Porta02investorprotection,
author = {Rafael La Porta and Florencio Lopez-de-silanes and Andrei Shleifer and Robert Vishny},
title = {Investor Protection and Corporate Valuation},
journal = {Journal of Finance},
year = {2002},
volume = {57},
pages = {1147--1170}
}
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Abstract
We present a model of the effects of legal protection of minority shareholders and of cash-flow ownership by a controlling shareholder on the valuation of firms. We then test this model using a sample of 539 large firms from 27 wealthy economies.
