Narrow search
Showing 1 - 10 of 63,786
Cover Image
The Effect of Credit Rationing on the Shape of the Competition-Innovation Relationship
Bena, Jan - 2009
Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …
Persistent link: https://www.econbiz.de/10013155947
Cover Image
The Effect of Credit Rationing on the Shape of the Competition-Innovation Relationship
Bena, Jan - Center for Economic Research and Graduate Education and … - 2008
Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …
Persistent link: https://www.econbiz.de/10005146547
Cover Image
The effect of credit rationing on the shape of the competition-innovation relationship
Bena, Jan - London School of Economics (LSE) - 2009
Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …
Persistent link: https://www.econbiz.de/10010745834
Cover Image
National Culture and the Value Implications of Corporate Social Responsibility : A Channel Analysis
Griffin, Dale W. - 2020
We examine why corporate social responsibility (CSR) practices vary across countries and firms, and evaluate the value implications. Using a sample of 30,399 firm-year observations representing 4,279 firms from 49 countries over the 2003–2015 period and applying hierarchical linear modeling,...
Persistent link: https://www.econbiz.de/10012851351
Cover Image
Secrecy, Information Shocks, and Corporate Investment : Evidence from European Union Countries
Mazboudi, Mohamad - 2018
This study examines how national culture affects corporate investment. We argue that national culture affects corporate investment efficiency through the level of secrecy that national culture exhibits. Using a sample of firms from eight culturally-diverse European Union countries, we find that...
Persistent link: https://www.econbiz.de/10012933243
Cover Image
A Cross-Country Study on the Effects of National Culture on Earnings Management
Han, Sam - 2011
This study hypothesizes and tests whether the degrees to which managers exercise earnings discretion relates to their value system (i.e., culture) as well as the institutional features (i.e., legal environment) of their country. We find that uncertainty avoidance and individualism dimensions of...
Persistent link: https://www.econbiz.de/10013130561
Cover Image
National Culture and Capital Structure Decisions : Evidence from Foreign Joint Ventures in China
Li, Kai - 2015
We investigate the role of firms' country of origin in financial leverage decisions using data on foreign joint ventures in China. We hypothesize that national culture enters the joint optimization process leading to foreign joint ventures' leverage decisions and that it affects leverage...
Persistent link: https://www.econbiz.de/10013038580
Cover Image
National Culture and Corporate Cash Holdings around the World
Chen, Yangyang - 2017
This paper examines whether cultural dimensions explain the variation in corporate cash holdings around the world as well as within the United States. We establish four major findings. First, in an international setting, corporate cash holdings are negatively associated with individualism and...
Persistent link: https://www.econbiz.de/10012975540
Cover Image
National Culture and Bank Liquidity Creation
Boubakri, Narjess; (Edward) Cao, Zhongyu; El Ghoul, Sadok; … - 2021
This paper investigates the relationship between national culture and cross-country variations in bank liquidity creation. We hypothesize that banks in individualistic societies create more liquidity because of risk-taking and overconfidence bias. On the other hand, a better access to soft...
Persistent link: https://www.econbiz.de/10013232287
Cover Image
Culture and R2
Eun, Cheol S. - 2015
Consistent with predictions from the psychology literature, we find that stock prices co-move more (less) in culturally tight (loose) and collectivistic (individualistic) countries. Culture influences stock price synchronicity by affecting correlations in investors' trading activities and a...
Persistent link: https://www.econbiz.de/10013035173