Globalization of corporate risk taking

• Autores: Valentina Bruno, Hyun Song Shin
• Localización: Journal of International Business Studies, ISSN-e 1478-6990, Vol. 45, Nº. 7, 2014, págs. 800-820
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • We explore how the interconnected nature of global finance affects corporate risk taking. We show that a common global factor known to be associated with fluctuations in cross-border banking is also strongly associated with common co-movements in corporate risk-taking across a diverse universe of international firms. Our study contributes to the international business literature as the first comprehensive investigation of how global financial conditions induce greater synchronization of risk-taking across regions and sectors.