Doidge, Craig; Karolyi, G. Andrew; Lins, Karl; Miller, … - 2005
also control for financial development and overall economic development. As a
proxy for the level of financial development … the level of economic development,
we use the log of GNP per capita. We use the historical three-year stock market …
economic importance is smaller than that of the control rights variable: a one percent increase in
sales growth is associated …