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- Publisher Website: 10.1016/j.jfineco.2008.10.001
- Scopus: eid_2-s2.0-68749100630
- WOS: WOS:000274725400005
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Article: Does religion matter in corporate decision making in America?
Title | Does religion matter in corporate decision making in America? |
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Authors | |
Keywords | Corporate culture Risk aversion Religion Corporate investment |
Issue Date | 2009 |
Citation | Journal of Financial Economics, 2009, v. 93, n. 3, p. 455-473 How to Cite? |
Abstract | We examine how corporate culture influences firm behavior. Prior research suggests a link between individual religiosity and risk aversion. We find that this relationship also influences organizational behavior. Firms located in counties with higher levels of religiosity display lower degrees of risk exposure, as measured by variances in equity returns or returns on assets. They exhibit a lower investment rate and less growth, but generate a more positive market reaction, when they announce new investments. Finally, chief executive officers are more likely to join a firm with a similar religious environment as in their previous firm when they switch employers. © 2009 Elsevier B.V. All rights reserved. |
Persistent Identifier | http://hdl.handle.net/10722/238066 |
ISSN | 2023 Impact Factor: 10.4 2023 SCImago Journal Rankings: 13.655 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Hilary, Gilles | - |
dc.contributor.author | Hui, Kai Wai | - |
dc.date.accessioned | 2017-02-03T02:12:46Z | - |
dc.date.available | 2017-02-03T02:12:46Z | - |
dc.date.issued | 2009 | - |
dc.identifier.citation | Journal of Financial Economics, 2009, v. 93, n. 3, p. 455-473 | - |
dc.identifier.issn | 0304-405X | - |
dc.identifier.uri | http://hdl.handle.net/10722/238066 | - |
dc.description.abstract | We examine how corporate culture influences firm behavior. Prior research suggests a link between individual religiosity and risk aversion. We find that this relationship also influences organizational behavior. Firms located in counties with higher levels of religiosity display lower degrees of risk exposure, as measured by variances in equity returns or returns on assets. They exhibit a lower investment rate and less growth, but generate a more positive market reaction, when they announce new investments. Finally, chief executive officers are more likely to join a firm with a similar religious environment as in their previous firm when they switch employers. © 2009 Elsevier B.V. All rights reserved. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of Financial Economics | - |
dc.subject | Corporate culture | - |
dc.subject | Risk aversion | - |
dc.subject | Religion | - |
dc.subject | Corporate investment | - |
dc.title | Does religion matter in corporate decision making in America? | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.jfineco.2008.10.001 | - |
dc.identifier.scopus | eid_2-s2.0-68749100630 | - |
dc.identifier.volume | 93 | - |
dc.identifier.issue | 3 | - |
dc.identifier.spage | 455 | - |
dc.identifier.epage | 473 | - |
dc.identifier.isi | WOS:000274725400005 | - |
dc.identifier.issnl | 0304-405X | - |