Artikel
Are religion and culture relevant for corporate risk-taking? International evidence
Using a large sample of firms from 37 countries over the period of 2007-2015, we empirically analyse the impact of religion and national culture characteristics on the level of corporate risk-taking around the world and the channels through which this can take place. First, we initially observe that different religious backgrounds have different impacts on corporate risk-taking, these being negative for Catholic and Islamic-based countries and positive for firms in Protestant nations. Secondly, we observe that companies in countries with high scores of power distance, masculinity, individualism and long-term orientation tend to increase risk-taking while high levels of uncertainty avoidance moderates corporate risk-taking behavior. We also show results that in companies where institutional investors are the most relevant reference shareholder the influence of religion on corporate risk-taking is not felt, unlike when the main shareholder is an individual or a family.
- Sprache
-
Englisch
- Erschienen in
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Journal: BRQ Business Research Quarterly ; ISSN: 2340-9436 ; Volume: 22 ; Year: 2019 ; Issue: 1 ; Pages: 36-55 ; Barcelona: Elsevier España
- Klassifikation
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Management
International Financial Markets
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
- Thema
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Corporate risk-taking
National culture
Ownership structure
Religion
- Ereignis
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Geistige Schöpfung
- (wer)
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Díez-Esteban, José María
Farinha, Jorge Bento
García-Gómez, Conrado Diego
- Ereignis
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Veröffentlichung
- (wer)
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Elsevier España
- (wo)
-
Barcelona
- (wann)
-
2019
- DOI
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doi:10.1016/j.brq.2018.06.003
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Díez-Esteban, José María
- Farinha, Jorge Bento
- García-Gómez, Conrado Diego
- Elsevier España
Entstanden
- 2019
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