Measuring the functional efficiency of capital markets

by Johan E. Eklund; Sameeksha Desai

We apply the accelerator principle to measure the functional efficiency of capital markets. We estimate the elasticity of capital with respect to output using a panel of firms across 44 countries, and compare the results with existing approaches. Furthermore, we correlate our measure with corporate governance institutions. -- Allocation of capital ; accelerator principle ; functional efficiency

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Year of publication:	2008
Other Persons:	Eklund, Johan E. (contributor) ; Desai, Sameeksha (contributor)
Publisher:	Jena : Univ. [u.a.]
Subject:	Finanzmarkt \| Financial market \| Allokationseffizienz \| Allocative efficiency \| Investition \| Investment \| Elastizität \| Elasticity \| Tobins Q \| Tobin's Q \| Unternehmenserfolg \| Firm performance \| Wertschöpfung \| Value added \| Corporate Governance \| Corporate governance \| Schätzung \| Estimation \| Welt \| World

Extent:	Online-Ressource, (11 S.)
Series:	Jena economics research papers. - Jena : [Verlag nicht ermittelbar], ISSN 1864-7057, ZDB-ID 2388825-8. - Vol. 2008,051
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/25732 [Handle]
Classification:	C00 - Mathematical and Quantitative Methods. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003724204