Replication data for: The Political Economy of Corporate Governance
Principal Investigator(s): View help for Principal Investigator(s) Marco Pagano; Paolo F. Volpin
Version: View help for Version V1
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LICENSE.txt | text/plain | 14.6 KB | 12/06/2019 10:35:AM |
pv_aer_data.dta | application/octet-stream | 64.9 KB | 12/06/2019 10:35:AM |
pv_aer_data_appendix.pdf | application/pdf | 39.5 KB | 12/06/2019 10:34:AM |
pv_aer_program.do | text/plain | 3.5 KB | 12/06/2019 10:35:AM |
Project Citation:
Pagano, Marco, and Volpin, Paolo F. Replication data for: The Political Economy of Corporate Governance. Nashville, TN: American Economic Association [publisher], 2005. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116060V1
Project Description
Summary:
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We analyze the political determinants of investor and employment protection. Our model predicts that proportional electoral systems are conducive to weaker investor protection and stronger employment protection than majoritarian systems. This prediction is consistent with international panel data evidence. The proportionality of the voting system is significantly and negatively correlated with shareholder protection in a panel of 45 countries, and positively correlated with employment protection in a panel of 21 OECD countries. Other political variables also affect regulatory outcomes, especially for the labor market. The origin of the legal system has some additional explanatory power only for employment protection.
Scope of Project
JEL Classification:
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G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
K22 Business and Securities Law
G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
K22 Business and Securities Law
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