Institutional differences between Europe and China. Effects on firms' financing decisions

Abstract

In this article, I will focus on the impact of institutional differences in four European countries: Spain, Italy, Germany, Norway and China on corporate financial decision-making, and I will start with four areas: finance, economy, law and governance. The main comparative analysis of the financial aspect is the financial system; the economic aspect is mainly the economic level and growth, income distribution; the legal aspect is the legal protection of investors; the governmentaspect is mainly the degree of corruption and political stability.