Using firm-level data from 52 countries,
the authors investigate how a country's institutions
and business environment affect firms' organizational
choices and the effects of organizational form on access to
finance and growth. They find that businesses are more
likely to choose the corporate form in countries with
developed financial sectors and efficient legal systems,
strong shareholder and creditor rights, low regulatory
burdens and corporate taxes, and efficient bankruptcy
processes. Corporations report fewer financing, legal, and
regulatory obstacles than unincorporated firms, and this
advantage is greater in countries with more developed
institutions and favorable business environments. The
authors find some evidence of higher growth of incorporated
businesses in countries with good financial and legal institutions.
Bibliographic Details
| Main Authors: |
Demirguc-Kunt, Asli,
Love, Inessa,
Maksimovic, Vojislav |
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| Format: | Policy Research Working Paper
biblioteca
|
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| Language: | English
en_US |
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| Published: |
World Bank, Washington, D.C.
2004-05
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| Subjects: | ACTIONS,
ADVERSE SELECTION,
AGRICULTURE,
BANKRUPTCY,
BUSINESS ENVIRONMENT,
CHARTER,
CIVIL LAW,
COMMON LAW,
COMPARATIVE ADVANTAGE,
COMPETITORS,
CORPORATE OWNERSHIP,
CORPORATION,
CORPORATIONS,
CORRUPTION,
DAMAGES,
DEBT,
DIVIDENDS,
ECONOMIC DEVELOPMENT,
ENTREPRENEURS,
EQUALITY,
FINANCIAL INSTITUTIONS,
FIRM SIZE,
FIRMS,
FOREIGN PARTNERS,
GDP,
GDP PER CAPITA,
GOVERNMENT REGULATIONS,
GROWTH RATE,
INCOME,
INCOME TAXES,
INEFFICIENCY,
JOINT STOCK COMPANIES,
LAWS,
LAWYERS,
LEGAL DEVELOPMENT,
LEGAL FORMS,
LEGAL FRAMEWORK,
LEGAL STATUS,
LEGAL SYSTEMS,
MEDIUM ENTERPRISES,
ORGANIZATIONAL FORM,
ORGANIZATIONAL STRUCTURE,
PER CAPITA INCOME,
PROPERTY RIGHTS,
PROPRIETORSHIP,
REGULATORY BURDENS,
SHAREHOLDERS,
SMALL BUSINESSES,
SMALL FIRMS,
SOLE PROPRIETORSHIPS,
TAXATION,
TRANSACTIONS COSTS,
TRUSTS,
WEALTH BANKING REGULATIONS,
BANKRUPTCY PROCEDURES,
CORPORATE FINANCE,
CORPORATE GOVERNANCE,
CORPORATE TAX RATE,
EXTERNAL FINANCING,
FINANCE RESEARCH,
FINANCIAL DEVELOPMENT,
FINANCIAL MARKETS,
FINANCIAL SECTOR,
FINANCIAL SYSTEM,
FOREIGN OWNERSHIP,
INDUSTRIAL ECONOMICS,
INFLATION,
INVESTMENT FUNDS,
INVESTOR PROTECTION,
LIMITATION OF LIABILITY,
POLITICAL ECONOMY,
SECURITIES,
STOCK COMPANIES,
TAX SYSTEM, |
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| Online Access: | http://documents.worldbank.org/curated/en/2004/05/4973387/business-environment-incorporation-decision
http://hdl.handle.net/10986/14021
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