Boubakri, Narjess; Cosset, Jean-Claude; Saffar, Walid - Centre Interuniversitaire sur le Risque, les Politiques … - 2011
Using a unique database of 190 newly privatized firms from 36 countries, we investigate the impact of shareholders’ identify on corporate risk-taking behavior. We find strong and robust evidence that state (foreign) ownership is negatively (positively) related to corporate risk-taking....