Political institutions and investor protection
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Published:2020
Issue:4, Special Issue
Volume:17
Page:339-352
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ISSN:1810-3057
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Container-title:Corporate Ownership and Control
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language:en
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Short-container-title:COC
Author:
Geller Gabriel1, Guedes Maria João1ORCID
Abstract
This study examines how political institutions are associated with investor protection. Our results show that consensual political institutions have higher creditor protection but lower minority shareholder protection. Further, the system of government (parliamentary vs. presidential) and the level of democracy are the two dimensions of political institutions that best explain investor protection. The study presents some recommendations that add to the debate that shows that there is no single political theory or set of factors that fully explain the range of outcomes across OECD countries, and that looking to other dimensions of political institutions are useful to explain investor protection.
Funder
Fundação para a Ciência e a Tecnologia
Publisher
Virtus Interpress
Subject
General Business, Management and Accounting
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