Do Market Regulation and Financial Imperfections Affect Firm Size? New Empirical Evidence

Raquel Fonseca () and Natalia Utrero-González

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: This paper investigates the importance that market regulation and financial imperfections have in firm size. We analyse institutions affecting labour market as Employment Protection Laws (EPL) and Product Market Regulation (PMR). Moreover, we study the effects of these institutions on firm growth. We use data from 29 industrial sectors across 15 developed countries. We find that market regulations related to financial imperfections help to explain differences in firm structure across countries.

Keywords: Financial development; labour market institutions; firm structure (search for similar items in EconPapers)
JEL-codes: G2 G32 J32 L10 (search for similar items in EconPapers)
Date: 2004-05-01
New Economics Papers: this item is included in nep-cfn, nep-com, nep-eec, nep-ent, nep-fin, nep-mfd and nep-reg
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:119

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