In the radiance of enlightenment: The influence of nontheistic religions on corporate default risk

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dc.citation.volume60
dc.contributor.authorFeng Y
dc.contributor.authorHao W
dc.contributor.authorFang J
dc.contributor.authorWongchoti U
dc.date.accessioned2024-07-11T01:32:59Z
dc.date.available2024-07-11T01:32:59Z
dc.date.issued2024-06
dc.description.abstractWe investigate whether religious site density around a firm's headquarters is related to corporate default risk in China. We find that public firms surrounded by a higher number of Buddhist and Taoist temples are associated with lower default risk. In contrast to the widely documented impact of Western religiosity on corporate behavior, our mechanism tests indicate that lower default risk related to religious site density is primarily driven by better corporate governance and not by a surge in corporate conservatism. Finally, we find that this default risk lowering effect is more pronounced when firms also possess greater political resources.
dc.description.confidentialfalse
dc.edition.editionJune 2024
dc.identifier.author-urlhttps://www.sciencedirect.com/science/article/pii/S1566014124000232?utm_campaign=STMJ_219742_AUTH_SERV_PA&utm_medium=email&utm_acid=103899013&SIS_ID=&dgcid=STMJ_219742_AUTH_SERV_PA&CMX_ID=&utm_in=DM458849&utm_source=AC_
dc.identifier.citationFeng Y, Hao W, Fang J, Wongchoti U. (2024). In the radiance of enlightenment: The influence of nontheistic religions on corporate default risk. Emerging Markets Review. 60.
dc.identifier.doi10.1016/j.ememar.2024.101128
dc.identifier.eissn1873-6173
dc.identifier.elements-typejournal-article
dc.identifier.issn1566-0141
dc.identifier.number101128
dc.identifier.piiS1566014124000232
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/70148
dc.languageEnglish
dc.publisherElsevier B V
dc.publisher.urihttps://www.sciencedirect.com/science/article/pii/S1566014124000232
dc.relation.isPartOfEmerging Markets Review
dc.rights(c) 2024 The Author/s
dc.rightsCC BY 4.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectReligion
dc.subjectDefault risk
dc.subjectChinese market
dc.subjectBuddhism
dc.subjectTaoism
dc.subjectPolitical intervention
dc.subjectCorporate governance
dc.subjectConservatism
dc.subjectManagerial early life experience
dc.subjectAltman's Z-score
dc.titleIn the radiance of enlightenment: The influence of nontheistic religions on corporate default risk
dc.typeJournal article
pubs.elements-id487901
pubs.organisational-groupOther
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