Are religion and culture relevant for corporate risk-taking? International evidence

• Tipo: Artigo em Revista Científica Internacional
• Data: 2019-02

Autores

José María Díez-Esteban (Autor) Outra; Jorge Farinha (Autor) FEP; Conrado Diego García-Gómez (Autor) Outra

Revista

Título: BRQ Business Research Quarterly

Páginas: 36-55

ISSN: 2340-9436

Editora: Elsevier

Indexação

ISI Web of Science - Citações

Scopus - 0 Citações

Crossref

Classificação Científica

CORDIS: Ciências Sociais > Economia > Estudos de gestão > Gestão financeira

FOS: Ciências sociais > Economia e gestão

Outras Informações

ID Authenticus: P-00P-27Q

DOI: 10.1016/j.brq.2018.06.003

Abstract (EN): 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. © 2018 ACEDE

Idioma: Inglês

Tipo (Avaliação Docente): Científica