Bartram, Söhnke M.; Brown, Gregory W.; Stulz, René M. - 2009
to lose their position in the event of a
bankruptcy filing. In addition, with better investor protection corporate … turnover being a measure of equity market development. For
example, Li (2007) studies 33 global stock markets and finds that … significant at the 1% level. Our sample is
different in at least two ways from the samples used for studies that focus on the …