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https://doi.org/10.21256/zhaw-22611| Publikationstyp: | Beitrag in wissenschaftlicher Zeitschrift |
| Art der Begutachtung: | Peer review (Publikation) |
| Titel: | Informal institutions and firm valuation |
| Autor/-in: | Hartwell, Christopher A. Malinowska, Anna P. |
| et. al: | No |
| DOI: | 10.1016/j.ememar.2019.03.001 10.21256/zhaw-22611 |
| Erschienen in: | Emerging Markets Review |
| Band(Heft): | 40 |
| Heft: | 100603 |
| Erscheinungsdatum: | 2019 |
| Verlag / Hrsg. Institution: | Elsevier |
| ISSN: | 1566-0141 |
| Sprache: | Englisch |
| Schlagwörter: | Emerging market; Firm valuation; Informal institution; Poland |
| Fachgebiet (DDC): | 349: Rechtsvergleichung und ausländisches Recht 658: Allgemeines Management |
| Zusammenfassung: | Research on the effects of the institutional environment on firm market valuation have concentrated on formal institutions and in particular legal frameworks. However, changes in formal institutions may have little to no effect on the deeply ingrained socio-economic processes which determine the way of conducting business in a country. In such a situation, informal institutions may play a much more important role for firms. Using property rights as an example, this paper models the impact of formal and informal institutional changes on the market growth potential of Polish firms. Our examination indicates that Poland's formal and informal institutions diverge significantly, with changes in informal institutions shaping market worth much more than binding formal frameworks. We conclude that firm valuation in an unstable institutional environment is due mostly to developments in informal property rights and other factors external to the firm, with comparatively little effect of firm-specific attributes. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/22611 |
| Volltext Version: | Akzeptierte Version |
| Lizenz (gemäss Verlagsvertrag): | CC BY-NC-ND 4.0: Namensnennung - Nicht kommerziell - Keine Bearbeitungen 4.0 International |
| Departement: | School of Management and Law |
| Organisationseinheit: | International Management Institute (IMI) |
| Enthalten in den Sammlungen: | Publikationen School of Management and Law |
Dateien zu dieser Ressource:
| Datei | Beschreibung | Größe | Format | |
|---|---|---|---|---|
| 2019_Hartwell-Malinowska_Informal-institutions-and-firm-valuation.pdf | Accepted Version | 905.43 kB | Adobe PDF |  Öffnen/Anzeigen |
Zur Langanzeige
Hartwell, C. A., & Malinowska, A. P. (2019). Informal institutions and firm valuation. Emerging Markets Review, 40(100603). https://doi.org/10.1016/j.ememar.2019.03.001
Hartwell, C.A. and Malinowska, A.P. (2019) ‘Informal institutions and firm valuation’, Emerging Markets Review, 40(100603). Available at: https://doi.org/10.1016/j.ememar.2019.03.001.
C. A. Hartwell and A. P. Malinowska, “Informal institutions and firm valuation,” Emerging Markets Review, vol. 40, no. 100603, 2019, doi: 10.1016/j.ememar.2019.03.001.
HARTWELL, Christopher A. und Anna P. MALINOWSKA, 2019. Informal institutions and firm valuation. Emerging Markets Review. 2019. Bd. 40, Nr. 100603. DOI 10.1016/j.ememar.2019.03.001
Hartwell, Christopher A., and Anna P. Malinowska. 2019. “Informal Institutions and Firm Valuation.” Emerging Markets Review 40 (100603). https://doi.org/10.1016/j.ememar.2019.03.001.
Hartwell, Christopher A., and Anna P. Malinowska. “Informal Institutions and Firm Valuation.” Emerging Markets Review, vol. 40, no. 100603, 2019, https://doi.org/10.1016/j.ememar.2019.03.001.
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