Property rights and the cost of capital

European Journal of Law and Economics

Volumn 39, Issue 3, 2015, Pages 523-537

  Bjuggren, Per Olof ^a   Eklund, Johan E ^a  

^a JÖNKÖPING INTERNATIONAL BUSINESS SCHOOL   (Sweden)

Author keywords

Asset pricing; Cost of capital; International financial markets; Investment; Property rights

Indexed keywords

EID: 84876667655     PISSN: 09291261     EISSN: 15729990     Source Type: Journal    
DOI: 10.1007/s10657-013-9396-x     Document Type: Article

References (22)

1. Alchian, A. A., & Demsetz, H. (1972). Production, information costs, and economic organization. American Economic Review,62(5), 777–795.
2. Barrow, R. J. (1991). Economic growth in a cross section of countries. Quarterly Journal of Economics,106(2), 407–443.
3. Black, F., Jensen, M. C., & Scholes, M. (1972). The capital asset pricing model: Some empirical tests. In M. C. Jensen (Ed.), Studies in the theory of capital markets. New York: Praeger.
4. Claessens, S., & Laeven, L. (2003). Financial development, property rights, and growth. Journal of Finance,58(6), 2401–2463.
5. Coase, R. H. (1960). The problem of social cost. Journal of Law and Economics,3, 1–44.
6. de Soto, H. (2000). The mystery of capital—Why capitalism triumphs in the west and fails everywhere else. New York: Basic Books.
7. Demsetz, H. (1964). The exchange and enforcement of property rights. Journal of Law and Economics,7, 11–26.
8. Douglas, G. (1968). Risk in the equity markets: An empirical appraisal of market efficiency. Ann Arbor: University Microfilms, Inc.
9. Elton, E. J., & Gruber, M. J. (1995). Modern portfolio theory and investment analysis (5th ed.). New York: John Wiley and Sons, Inc.
10. Faure, M., & Skogh, G. (2003). The Economic analysis of environmental policy and law: An introduction. Cheltenham: Edgar Elgar Publishing Ltd.
11. Gugler, K., Mueller, D. C., & Yurtoglu, B. B. (2004). Corporate governance and return on investment. Journal of Law and Economics,47(2), 589–633.
12. 2 around the world: New theory and new tests. Journal of Financial Economics,79(2), 257–292.
13. Johnson, S., McMillan, J., & Woodruff, C. (2002). Property rights and finance. American Economic Review,92(5), 1335–1356.
14. Kasper, W., & Streit, M. E. (1998). Institutional economics—social order and public policy. Cheltenham: Edgar Elgar Publishing Ltd.
15. La Porta, R., Lopez-De_Silanes, F., Shleifer, A., & Vishny, R. W. (1997). Legal determinants of external finance. Journal of Finance,52(3), 1131–1150.
16. Merton, R. C. (1973). An intertemporal capital asset pricing model. Econometrica,41(5), 867–887.
17. Morck, R., Yeung, B., & Yu, W. (2000). The information content of stock markets: Why do emerging markets have synchronous stock price movements. Journal of Financial Economics,58(1), 215–260.
18. North, D. C. (1981). Structure and change in economic history. New York: Norton.
19. North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge and New York: Cambridge University Press.
20. Roll, R. (1977). A critique of the asset pricing theory’s tests: Part I: On past and potential testability of the theory. Journal of Financial Economics,4(2), 129–176.
21. Sharpe, W. F., & Cooper, G. M. (1972). Risk-return class of New York stock exchange common stocks, 1931–1967. Financial Analysts Journal,28(2), 46–52.
22. Williamson, O. E. (2000). The new institutional economics: Taking stock, looking ahead. Journal of Economic Literature,38(3), 596–613.