Series: IMF Working Papers
Author(s): Roxana Mihet
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2012
Keywords: National culture, corporate risk-taking, industry opacity, risk-taking, shareholders, shareholder, shareholders ? rights, Firm Objectives, Organization, and Behavior: General
This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic fir...