"The authors test competing theories of capital structure choices using firm-level data on firm borrowings. The majority of firms in the dataset are privately o

Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms

Using a firm-level survey database covering 48 countries, Beck, Demirgüç-Kunt, and Maksimovic investigate whether differences in financial and legal developme