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| Does Religion Help to Promote Corporate Risk Taking?The Moderating Effect of Organizational Maturity |
| WANG Jinghua,MAO Ning,WANG Shan |
| School of Business, Nanjing University |
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Abstract A factor has been neglected by the traditional corporate investment theory, that is, religion.Based on the data from 2007 to 2015, this paper analyzes the impact of religion and organizational maturity on corporate risk taking from a macro perspective. The results show that religion has a significant negative effect on corporate risk-taking. If the firm is located in a more religious area, it has more conservative investments. Organizational maturity helps to reduce the negative effect. In this paper, we combine macro culture and micro corporate investment decisions. The evidence between religion and risk-taking helps to deepen the understanding of relationship between informal institution and corporate decision-making.
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Received: 26 April 2017
Published: 15 September 2017
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Corresponding Authors:
WANG Jinghua
E-mail: 18362913653@163.com
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2017, Vol. 37 
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