Globalization of corporate risk taking

被引：28

作者：

Bruno, Valentina ^{[1
]}

Shin, Hyun Song ^{[2
]}

机构：

[1] Amer Univ, Kogod Sch Business, Washington, DC 20016 USA

[2] Princeton Univ, Princeton, NJ 08540 USA

来源：

JOURNAL OF INTERNATIONAL BUSINESS STUDIES | 2014年 / 45卷 / 07期

基金：

美国国家科学基金会;

关键词：

corporate risk-taking; global liquidity; capital flows; financial crisis; multinational corporations (MNCs) and enterprises (MNEs); FINANCIAL DEPENDENCE; CAPITAL INFLOWS; GOVERNANCE; COUNTRIES;

D O I：

10.1057/jibs.2014.12

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We explore how the interconnected nature of global finance affects corporate risk taking. We show that a common global factor known to be associated with fluctuations in cross-border banking is also strongly associated with common co-movements in corporate risk-taking across a diverse universe of international firms. Our study contributes to the international business literature as the first comprehensive investigation of how global financial conditions induce greater synchronization of risk-taking across regions and sectors.

引用

页码：800 / 820

页数：21

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