Collaborative Research: RUI: Corporate Law, Finance, and Productivity in Historical Perspective

合作研究：RUI：历史视角下的公司法、金融和生产力

基本信息

批准号：
1658887
负责人：
Steven Nafziger
金额：
$ 11.03万
依托单位：
Williams College
依托单位国家：
美国
项目类别：
Continuing Grant
财政年份：
2017
资助国家：
美国
起止时间：
2017-08-01 至 2021-07-31
项目状态：
已结题

来源：
https://www.nsf.gov/awardsearch/showAward?AWD_ID=1658887&HistoricalAwards=false
关键词：
Collaborative Research RUI Corporate Law

项目摘要

This research studies the legal and institutional foundations of industrial and financial development. The particulars of commercial, contract, enterprise, and corporate law can have major consequences for how firms are organized and financed, with repercussions for the pace and structure of economic development in a society. The investigators examine the case of the Russian Empire around the turn of the twentieth century, because it offers a combination of uniquely high quality data and a particular set of legal and financial characteristics, all of which make it possible to study the relationships among company law, finance, and firm performance in an industrializing economy. This project collects and analyzes the new dataset while training a large number of undergraduate research assistants in statistical and research methods. This project involves the collection and analysis of firm-level data describing Russian corporations before the October Revolution of 1917. The data collection is international in scope, drawing on original corporate charters, archival records of firms and financial markets, and a wealth of historical newspapers, government reports, and other materials culled from archives and libraries in the United States, Russia, and Europe. The new dataset links the legal rules governing individual corporations to their subsequent financial characteristics, productivity, and market valuations. The publicly-available databases generated as part of the project are of interest to scholars in diverse fields such as corporate law, finance, economic history, economic geography, industrial organization, and Russian history. The Imperial Russian setting not only offers data of uniquely high quality for a developing economy, but it also provides substantial variation in the legal structures of corporations and in the underlying financial and industrial conditions. This enables the econometric evaluation of causal hypotheses regarding how corporations were financed and how Imperial Russian legal and economic institutions functioned. Thus, this historical project speaks to the role that legal institutions, corporate governance, and finance play in the process of economic development. The project's findings are salient for understanding the historical context of current legal and economic conditions in the Russian Federation, an area of current U.S. policy concern. This research involves undergraduate research assistants at every stage. These students learn methods of data coding, acquire skills in estimating econometric models, become conversant with a broad and interdisciplinary scholarship, and gain experience working with Russian-language sources. Mentoring undergraduates aligns with goals of both principal investigators' primarily undergraduate institutions.

这项研究研究了工业和金融发展的法律和机构基础。商业，合同，企业和公司法的细节可能会对企业的组织和融资方式产生重大影响，并对社会经济发展的速度和结构产生影响。调查人员在20世纪初研究了俄罗斯帝国的案例，因为它提供了独特的高质量数据以及一套特定的法律和财务特征的结合，所有这些都可以研究公司法律，财务和企业绩效之间的关系。该项目在培训大量的统计和研究方法的本科研究助理的同时，收集和分析了新数据集。该项目涉及对1917年10月革命之前描述俄罗斯公司的公司水平数据的收集和分析。数据收集是国际范围的，借鉴了原始公司宪章，公司和金融市场的档案记录，以及大量的历史报纸，政府报告和其他材料，这些材料与俄罗斯，俄罗斯，俄罗斯和欧洲的档案馆和图书馆相比。新的数据集将管理单个公司的法律规则与随后的财务特征，生产率和市场估值联系起来。作为该项目的一部分生成的公共可用数据库引起了各种领域的学者，例如公司法，金融，经济历史，经济地理，工业组织和俄罗斯历史。俄罗斯帝国的环境不仅为发展中的经济体提供了高质量的数据，而且还提供了公司法律结构以及基本的金融和工业条件的实质性差异。这使得对有关公司如何融资以及俄罗斯帝国法律和经济机构的运作方式的因果假设进行计量评估。因此，这个历史项目表达了法律制度，公司治理和金融在经济发展过程中发挥的作用。该项目的发现是理解俄罗斯联邦当前法律和经济状况的历史背景，这是美国当前政策关注的领域。这项研究涉及每个阶段的本科研究助理。这些学生学习数据编码的方法，获得估计计量经济学模型的技能，与广泛而跨学科的奖学金变得熟悉，并获得与俄罗斯语言来源合作的经验。指导本科生与两位主要研究人员主要是本科机构的目标保持一致。