This paper studies whether there is a connection between finance and growth at the firm level. It employs a new dataset of 150,165 equity and bond issuances around the world, matched with income and balance sheet data for 62,653 listed firms in 65 countries over 1990-2016. Three main patterns emerge from the analyses. First, firms that choose to issue in capital markets use the funds raised to grow by enhancing their productive capabilities, increasing...
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2020/07/27
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Рабочий документ в рамках исследования вопросов политики
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WPS9337
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1
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1
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2020/07/27
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Disclosed
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Capital Market Financing and Firm Growth
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Equitable Growth
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