Have exchange-listed firms become less important for the economy?
نویسندگان
چکیده
Publicly traded firms contribute less to total nonfarm employment and GDP now than in the 1970s. Major reasons for this development are decline of manufacturing, shift towards more production abroad growth service economy as providing services likely be listed on exchanges. A firm's stock market capitalization is much instructive about its earlier. Market capitalizations have not become systematically informative firms’ contribution GDP. Listed superstars account they did
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ژورنال
عنوان ژورنال: Journal of Financial Economics
سال: 2022
ISSN: ['1879-2774', '0304-405X']
DOI: https://doi.org/10.1016/j.jfineco.2021.08.009