Religiosity and financial distress in U.S. firms

Autor:	Mounira Hamed-Sidhom, Janet Ganouati, Khaled Hussainey, Ines Gharbi
Rok vydání:	2020
Předmět:	Religiosity Economics and Econometrics Misconduct Risk aversion Accounting media_common.quotation_subject Economics Demographic economics Financial distress Finance Test (assessment) Reputation media_common
Zdroj:	International Journal of Finance & Economics. 26:3902-3915
ISSN:	1099-1158 1076-9307
Popis:	In our paper, we test the global impact of religiosity on firm's durability. Given that religious firms are more ethics and take less risk, they avoid the costs of misconduct, and they benefit from the good reputation and the excellent relationship with their stakeholders. So, we predict that higher degrees of religiosity can reduce the financial distress. According to this prediction, we detect that corporates headquarters situated in more religious U.S. counties are probably less to suffer from financial problems. We also note that this negative relation becomes stronger during the crisis period. We conclude that the lack of religiosity is a significant cause of the financial difficulty.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::898daf221e802e5740dfc2c946b4e7c9 https://doi.org/10.1002/ijfe.1994 Zobrazit plný text záznamu Plný text