Chakravarty, Sugato; Xiang, Meifang - Department of Consumer Sciences and Retailing, Purdue … - 2011
We investigate the cross-country key factors of profit reinvestment decisions, using data compiled by the World Bank from over 7,000 businesses in 36 countries. We find that, compared to the security of property rights, it is a firm’s access to external financing that plays a significant role...