Li, Kai; Griffin, Dale; Yue, Heng; Zhao, Longkai - In: Journal of Corporate Finance 23 (2013) C, pp. 1-22
We investigate the role of national culture in corporate risk-taking. We postulate that culture influences corporate …. Further, we postulate that the influence of culture is conditioned on the extent of managerial discretion as measured by …-taking. Greater earnings discretion strengthens and larger firm size weakens the association of culture with corporate risk-taking. We …