Publication:
How Well Do Institutional Theories Explain Firms’ Perceptions of Property Rights?

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dc.contributor.authorAyyagari, Meghana
dc.contributor.authorDemirgüç-Kunt, Asli
dc.contributor.authorMaksimovic, Vojislav
dc.date.accessioned2012-06-19T19:56:10Z
dc.date.available2012-06-19T19:56:10Z
dc.date.issued2005-09
dc.description.abstractThe authors examine how well several institutional and firm-level factors and their interactions explain firms' perceptions of property rights protection. Their sample includes private and public firms that vary in size from very small to large in 62 countries. Together, the institutional theories they investigate account for approximately 70 percent of the country-level variation, indicating that the literature is addressing first-order factors. Firm-level characteristics such as legal organization and ownership structure are comparable to institutional factors in explaining variation in property rights protection. A country's legal origin and formalism index predict property rights variation better than its openness to international trade, its religion, its ethnic diversity, natural endowments or its political system. However, these results are driven by the inclusion of former socialist economies in the sample. When the authors exclude the former socialist economies, legal origin explains considerably less than openness to trade and endowments. Examining a broader set of variables for robustness, they again find that when they exclude former socialist countries, legal origin explains comparatively little of the variation in perceptions of judicial efficiency, corruption, taxes and regulation, street crime, and financing.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/09/6650483/well-institutional-theories-explain-firms-perceptions-property-rights
dc.identifier.doi10.1596/1813-9450-3709
dc.identifier.urihttps://hdl.handle.net/10986/8474
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 3709
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACTS
dc.subjectBENCHMARK SPECIFICATION
dc.subjectBOARD OF DIRECTORS
dc.subjectCIVIL LAW
dc.subjectCIVIL LAW SYSTEMS
dc.subjectCOMMON LAW
dc.subjectCONFIDENTIAL INFORMATION
dc.subjectCORRUPTION
dc.subjectDEMOCRACY
dc.subjectDOMINANT POSITION
dc.subjectEXECUTIVE DIRECTORS
dc.subjectEXPROPRIATION
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL SYSTEMS
dc.subjectFIRM OWNERSHIP
dc.subjectINDUSTRIAL SECTOR
dc.subjectINSTITUTIONAL DETERMINANTS
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSTITUTIONAL VARIABLES
dc.subjectJUDICIAL SYSTEM
dc.subjectJUDICIAL SYSTEMS
dc.subjectJUDICIARY
dc.subjectLEGAL INSTITUTIONS
dc.subjectLEGAL PROTECTION
dc.subjectLEGAL STATUS
dc.subjectLEGAL SYSTEM
dc.subjectLEGAL SYSTEMS
dc.subjectMANUFACTURING SECTOR
dc.subjectMINORITY SHAREHOLDERS
dc.subjectORGANIZATIONAL FORMS
dc.subjectOWNERSHIP CONCENTRATION
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPOLITICAL INSTITUTIONS
dc.subjectPRIVATE INVESTORS
dc.subjectPRIVATIZATIONS
dc.subjectPROPERTY RIGHTS
dc.subjectPROTECTION OF MINORITY SHAREHOLDERS
dc.subjectPUBLIC SERVICES
dc.subjectSOUTH AMERICA
dc.subjectSTOCK EXCHANGE
dc.subjectTAXATION
dc.subjectWEST EUROPEAN
dc.subjectWESTERN EUROPE
dc.titleHow Well Do Institutional Theories Explain Firms’ Perceptions of Property Rights?en
dspace.entity.typePublication
okr.crosscuttingsolutionareaPublic-Private Partnerships
okr.crosscuttingsolutionareaGender
okr.crossref.titleHow Well Do Institutional Theories Explain Firms ' Perceptions Of Property Rights?
okr.date.doiregistration2025-04-10T10:30:19.211867Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2005/09/6650483/well-institutional-theories-explain-firms-perceptions-property-rights
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid573761468136801103
okr.identifier.doi10.1596/1813-9450-3709
okr.identifier.externaldocumentum000016406_20060310093959
okr.identifier.internaldocumentum6650483
okr.identifier.reportWPS3709
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/03/10/000016406_20060310093959/Rendered/PDF/wps3709.pdfen
okr.topicPrivate Sector Development::Privatization
okr.topicLaw and Development::Judicial System Reform
okr.topicLaw and Development::Legal Products
okr.topicGender::Gender and Law
okr.topicLegal Institutions of the Market Economy
okr.topicPublic Sector Development
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication234a20c0-893c-561a-8c90-6f5be5be5b9b
relation.isAuthorOfPublication.latestForDiscovery234a20c0-893c-561a-8c90-6f5be5be5b9b
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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