Please use this identifier to cite or link to this item:
https://www.um.edu.mt/library/oar/handle/123456789/112607
Title: | Does religiosity influence venture capital investment decisions? |
Authors: | Chircop, Justin Johan, Sofia Tarsalewska, Monika |
Keywords: | Religiousness Venture capital -- Case studies Industrial productivity -- Case studies |
Issue Date: | 2020 |
Publisher: | Elsevier B.V. |
Citation: | Chircop, J., Johan, S., & Tarsalewska, M. (2020). Does religiosity influence venture capital investment decisions? Journal of Corporate Finance, 62, 101589. |
Abstract: | Theories on contextual behavior (e.g., social norm, self-identity, and legitimacy theories) suggest that the religiosity of the geographical area in which an organization operates influences its behavior. Using a sample of 91,020 VC investments in the U.S., we study whether religiosity influences VC investment decisions. Based on prior literature that finds a positive relation between religiosity and risk aversion, we posit that VCs located in more religious counties make less risky investments. We find that VCs located in more religious areas are more likely to be involved in staging and syndication and have a greater propensity to invest in later and expansion stages of portfolio companies. Taken together, our results suggest that VCs located in religious counties tend to be more risk averse. |
URI: | https://www.um.edu.mt/library/oar/handle/123456789/112607 |
Appears in Collections: | Scholarly Works - FacEMAAcc |
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