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. When a firm seeks external financing for its investment opportunities, information asymmetry arises between the firm and … investment opportunities of these firms. We then examine conditions under which the role of cross-owners is likely to be greater … and higher corporate investment. Our paper offers insight into the role of cross-ownership in reducing moral hazard and …
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Using a sample of 56 countries over the 2000-2016 period, we document lower levels of venture capital investments in more religious countries. These results are not specific to any primary religion. Furthermore, we show that the negative relation between religiosity and venture investing mainly...
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