Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.14/18795
Título: The effect of Judicial Independence on firm performance : evidence from the United States
Autor: Martins, Jordi Esteban Canudas
Orientador: Camanho, Nelson
Cerqueiro, Geraldo
Data de Defesa: 3-Nov-2015
Resumo: Some U.S. states allow judges to be elected and even to belong to parties. In this study, we examine how firm performance is influenced by exogenous changes that make the judicial system more independent. We exploit two types of changes: (i) from partisan to non-partisan elections and (ii) from non-partisan to appointed judges. These variations across states in the U.S. court system take place between 1976 and 2012. We find a positive effect of judicial independence on firm profitability of around 4 percentage points, suggesting that judicial independence increases market discipline and promotes an environment in which firm survival has to rely on performance, rather than on power or political connections.
URI: http://hdl.handle.net/10400.14/18795
Aparece nas colecções:FCEE - Dissertações de Mestrado / Master Dissertations
R - Dissertações de Mestrado / Master Dissertations

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