Exploring the Effect of Religious Piety on Corporate Governance: Evidence from Anti-takeover Defenses and Historical Religious Identification
Because religious piety induces individuals to be more honest and risk averse, it makes managers less likely to exploit shareholders, thereby mitigating the agency conflict and potentially influencing governance arrangements. We exploit the variation in religious piety across the U.S. counties and i...
Authors: | ; ; ; |
---|---|
Format: | Electronic Article |
Language: | English |
Check availability: | HBZ Gateway |
Journals Online & Print: | |
Fernleihe: | Fernleihe für die Fachinformationsdienste |
Published: |
Springer Science + Business Media B. V
2017
|
In: |
Journal of business ethics
Year: 2017, Volume: 141, Issue: 3, Pages: 469-476 |
Further subjects: | B
Corporate governance
B Religious piety B Anti-takeover B Religion B G34 B Z12 B Takeover defenses |
Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
MARC
LEADER | 00000caa a22000002 4500 | ||
---|---|---|---|
001 | 1785660446 | ||
003 | DE-627 | ||
005 | 20230331053656.0 | ||
007 | cr uuu---uuuuu | ||
008 | 220112s2017 xx |||||o 00| ||eng c | ||
024 | 7 | |a 10.1007/s10551-015-2677-2 |2 doi | |
035 | |a (DE-627)1785660446 | ||
035 | |a (DE-599)KXP1785660446 | ||
035 | |a (DE-He213)s10551-015-2677-2-e | ||
040 | |a DE-627 |b ger |c DE-627 |e rda | ||
041 | |a eng | ||
084 | |a 1 |a 0 |2 ssgn | ||
100 | 1 | |a Chintrakarn, Pandej |e VerfasserIn |4 aut | |
245 | 1 | 0 | |a Exploring the Effect of Religious Piety on Corporate Governance: Evidence from Anti-takeover Defenses and Historical Religious Identification |
264 | 1 | |c 2017 | |
336 | |a Text |b txt |2 rdacontent | ||
337 | |a Computermedien |b c |2 rdamedia | ||
338 | |a Online-Ressource |b cr |2 rdacarrier | ||
520 | |a Because religious piety induces individuals to be more honest and risk averse, it makes managers less likely to exploit shareholders, thereby mitigating the agency conflict and potentially influencing governance arrangements. We exploit the variation in religious piety across the U.S. counties and investigate the effect of religious piety on anti-takeover provisions. Our results show that religious piety substitutes for corporate governance in alleviating the agency conflict. Effective governance is less necessary for firm with strong religious piety. As a result, religious piety leads to weaker governance, as indicated by more anti-takeover defenses. We exploit historical religious piety as far back as 1952 as our instrumental variable. Religious piety from the distant past is unlikely correlated with current corporate governance directly, except through contemporaneous religious piety. Our instrumental variable analysis, which is far less vulnerable to endogeneity, corroborates the conclusion. | ||
650 | 4 | |a Z12 | |
650 | 4 | |a G34 | |
650 | 4 | |a Takeover defenses | |
650 | 4 | |a Corporate Governance | |
650 | 4 | |a Religious piety | |
650 | 4 | |a Anti-takeover | |
650 | 4 | |a Religion | |
700 | 1 | |a Jiraporn, Pornsit |e VerfasserIn |4 aut | |
700 | 1 | |a Tong, Shenghui |e VerfasserIn |4 aut | |
700 | 1 | |a Chatjuthamard, Pattanaporn |e VerfasserIn |4 aut | |
773 | 0 | 8 | |i Enthalten in |t Journal of business ethics |d Dordrecht [u.a.] : Springer Science + Business Media B.V, 1982 |g 141(2017), 3, Seite 469-476 |h Online-Ressource |w (DE-627)270937129 |w (DE-600)1478688-6 |w (DE-576)121465284 |x 1573-0697 |7 nnns |
773 | 1 | 8 | |g volume:141 |g year:2017 |g number:3 |g pages:469-476 |
856 | |3 Volltext |u http://www.jstor.org/stable/44253281 |x JSTOR | ||
856 | 4 | 0 | |u https://doi.org/10.1007/s10551-015-2677-2 |x Resolving-System |z lizenzpflichtig |3 Volltext |
935 | |a mteo | ||
936 | u | w | |d 141 |j 2017 |e 3 |h 469-476 |
951 | |a AR | ||
ELC | |a 1 | ||
ITA | |a 1 |t 1 | ||
LOK | |0 000 xxxxxcx a22 zn 4500 | ||
LOK | |0 001 4033719342 | ||
LOK | |0 003 DE-627 | ||
LOK | |0 004 1785660446 | ||
LOK | |0 005 20220112043852 | ||
LOK | |0 008 220112||||||||||||||||ger||||||| | ||
LOK | |0 035 |a (DE-Tue135)IxTheo#2021-12-30#3C98ADA27CBCE0A6551E13AFDC252B0BCB178D6C | ||
LOK | |0 040 |a DE-Tue135 |c DE-627 |d DE-Tue135 | ||
LOK | |0 092 |o n | ||
LOK | |0 852 |a DE-Tue135 | ||
LOK | |0 852 1 |9 00 | ||
LOK | |0 866 |x JSTOR#http://www.jstor.org/stable/44253281 | ||
LOK | |0 935 |a ixzs |a ixrk |a zota | ||
ORI | |a SA-MARC-ixtheoa001.raw | ||
REL | |a 1 | ||
STA | 0 | 0 | |a Corporate governance,Corporate control,Religion,Religions,Religion,Religion in literature |
STB | 0 | 0 | |a Gouvernement d'entreprise,Religion,Religions,Religion |
STC | 0 | 0 | |a Gobierno corporativo,Religión,Religión,Religión |
STD | 0 | 0 | |a Corporate governance,Governo d'impresa,Governo d'impresa,Religione,Religione,Religione |
STE | 0 | 0 | |a 企业管理,商团治理,公司治理,宗教,宗教 |
STF | 0 | 0 | |a 企業管理,商團治理,公司治理,宗教,宗教 |
STG | 0 | 0 | |a Governança corporativa,Religião,Religião |
STH | 0 | 0 | |a Корпоративное управление,Религия (мотив),Религия |
STI | 0 | 0 | |a Εταιρική διακυβέρνηση,Corporate governance,Θρησκεία (μοτίβο),Θρησκεία |
SUB | |a REL | ||
SYE | 0 | 0 | |a Unternehmenskontrolle,Unternehmensüberwachung , Religion,Mystik,Mythologie |