Globalization of Corporate Risk Taking
نویسندگان
چکیده
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 comovements 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.
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تاریخ انتشار 2014