O'Connor, Thomas G. (2013) Equity market liberalization and firm growth. Review of Development Finance, 3 (1). pp. 1-12. ISSN 1879-9337

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Abstract

In a sample of 686 investable firms from 26 emerging market countries, I show that equity market liberalizations do not result in an increase in externally-financed growth rates for participating firms. In fact I find mostly to the contrary. These findings are in line with recent work which shows that firms issue less and not more equity capital post-liberalization, and suggest the gains from equity market liberalizations may not be attributable to a reduction in financing constraints.

Item Type:	Article
Keywords:	External financing; Investability; Firm growth;
Academic Unit:	Faculty of Social Sciences > Economics, Finance and Accounting
Item ID:	8835
Identification Number:	https://doi.org/10.1016/j.rdf.2013.01.002
Depositing User:	Thomas G. O'Connor
Date Deposited:	20 Sep 2017 08:34
Journal or Publication Title:	Review of Development Finance
Publisher:	Elsevier
Refereed:	Yes
URI:	Publisher
Use Licence:	This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here

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