It was widely reported that 4000 Quaker families ran 74 Quaker British Banks as well more than 200 companies and that business ownership came with „with a deep sense of responsibility and accountability to those involved.. It was further reported that. --The Quaker businesspeople had the...

Building on the idea that religious communities provide mutual insurance against some idiosyncratic risks, we argue that religious membership is more valuable in societies exposed to greater common risk. In our empirical analysis we exploit rainfall risk as a source of common economic risk in...