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| Author: | Fauver, L. Houston, J. Naranjo, A. |
| Title: | Capital market development, international integration, legal systems, and the value of corporate diversification: a cross-country analysis |
| Journal: | Journal of Financial and Quantitative Analysis
2003 : MAR, VOL. 38:1, p. 135-157 |
| Index terms: | Capital markets Country comparisons Diversification Integration International relations Legal systems |
| Language: | eng |
| Abstract: | Using a database of more than 8000 companies from 35 countries, the authors find that the value of corporate diversification is related to the level of capital market development, international integration, and legal systems. The results suggest that the financial, legal, and regulatory environments each have an important influence on the value of diversification. |
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