This paper sets the background for the Special Issue of the Journal of Empirical Finance on the European Sovereign Debt Crisis. It identifies the channel through which risks in the financial industry leaked into the public sector. It discusses the role of the bank rescues in igniting the...

We examine the relationship between national culture and a country’s Bitcoin usage. Given that Bitcoin is a high-risk currency/investment that is frequently used for illegal purposes and whose market is relatively opaque, we focus on the cultural dimension of individualism, which has been...

This paper examines the effect of national culture on corporate risk-taking around the world. Specifically, we focus on one particular culture trait – individualism – a culture dimension that has been linked to risk-taking and overconfidence. Using a sample of 48 countries over the period...