Bartram, Söhnke M.; Brown, Gregory W.; Stulz, René M. - 2009
characteristics. Idiosyncratic risk falls as government
stability and respect for the rule of law improve. Idiosyncratic risk is …
measured rule of law indices such as those in Kaufman, Kraay, and Matruzzi (2007). We find throughout
the paper that there is …, Matruzzi (2007) rule of law index (correlation
equals 0.896), GDP per capita (correlation equals 0.802), and the Myers and Lin …