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Article: Government intervention and firm investment: Evidence from international micro-data

TitleGovernment intervention and firm investment: Evidence from international micro-data
Authors
KeywordsFirm investment
Government intervention
International evidence
Issue Date2013
Citation
Journal of International Money and Finance, 2013, v. 32 n. 1, p. 637-653 How to Cite?
AbstractBuilding on the important study by Beck et al. (2005), we examine how government intervention in firms' decision-making is related to their investment and sales growth. Using the unique World Bank dataset (WBES) covering 6500 firms in 70 countries, we find strong evidence that the extent of government intervention in firms' investment, employment, sales, pricing, dividend, and merger and acquisition decisions is negatively related to their investment and sales growth, with the effect being more profound in foreign owned firms and less significant in state-owned firms. The empirical results are robust to a series of robustness tests and instrumental variable regressions.
Persistent Identifierhttp://hdl.handle.net/10722/192344
ISSN
2015 Impact Factor: 1.524
2015 SCImago Journal Rankings: 1.316
SSRN

 

DC FieldValueLanguage
dc.contributor.authorLin, Cen_US
dc.contributor.authorMan-lai Wong, Sen_US
dc.date.accessioned2013-10-24T01:50:05Z-
dc.date.available2013-10-24T01:50:05Z-
dc.date.issued2013en_US
dc.identifier.citationJournal of International Money and Finance, 2013, v. 32 n. 1, p. 637-653en_US
dc.identifier.issn0261-5606en_US
dc.identifier.urihttp://hdl.handle.net/10722/192344-
dc.description.abstractBuilding on the important study by Beck et al. (2005), we examine how government intervention in firms' decision-making is related to their investment and sales growth. Using the unique World Bank dataset (WBES) covering 6500 firms in 70 countries, we find strong evidence that the extent of government intervention in firms' investment, employment, sales, pricing, dividend, and merger and acquisition decisions is negatively related to their investment and sales growth, with the effect being more profound in foreign owned firms and less significant in state-owned firms. The empirical results are robust to a series of robustness tests and instrumental variable regressions.-
dc.languageengen_US
dc.relation.ispartofJournal of International Money and Financeen_US
dc.subjectFirm investment-
dc.subjectGovernment intervention-
dc.subjectInternational evidence-
dc.titleGovernment intervention and firm investment: Evidence from international micro-dataen_US
dc.typeArticleen_US
dc.identifier.doi10.1016/j.jimonfin.2012.06.002en_US
dc.identifier.scopuseid_2-s2.0-84874767915en_US
dc.identifier.volume32en_US
dc.identifier.issue1en_US
dc.identifier.spage637en_US
dc.identifier.epage653en_US
dc.identifier.ssrn1454884-

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