Religion and Derivative Use: Evidence from the Hedge Fund Industry
We examine how local religions influence derivative usage in the hedge fund industry. Measuring religiosity by the ratio of religious adherents in the county of a U.S. hedge fund headquarters, we find that religiosity is negatively related to the probability of hedge funds using derivatives for spec...
| Auteurs: | ; ; |
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| Type de support: | Électronique Article |
| Langue: | Anglais |
| Vérifier la disponibilité: | HBZ Gateway |
| Journals Online & Print: | En cours de chargement...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Publié: |
Wiley-Blackwell
2023
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| Dans: |
Journal for the scientific study of religion
Année: 2023, Volume: 62, Numéro: 2, Pages: 451-475 |
| Sujets / Chaînes de mots-clés standardisés: | B
USA
/ Catholicisme
/ Protestantisme
/ Religiosité
/ Fonds spéculatifs
/ Dérivé (Valeurs mobilières)
/ Spéculation (Économie)
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| RelBib Classification: | AE Psychologie de la religion CB Spiritualité chrétienne KBQ Amérique du Nord KDB Église catholique romaine KDD Église protestante NCE Éthique des affaires |
| Sujets non-standardisés: | B
derivatives
B Religion B hedge funds B Religiosity |
| Accès en ligne: |
Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
| Résumé: | We examine how local religions influence derivative usage in the hedge fund industry. Measuring religiosity by the ratio of religious adherents in the county of a U.S. hedge fund headquarters, we find that religiosity is negatively related to the probability of hedge funds using derivatives for speculative purposes. In contrast, funds in regions with higher ratios of Catholics to Protestants are more likely to engage in speculation-based trading of derivatives. Finally, we show that the effects of local religion are more pronounced if the hedge fund size is small. Overall, our study highlights the significant role of local religion in shaping the purpose of hedge fund derivative usage. |
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| ISSN: | 1468-5906 |
| Contient: | Enthalten in: Journal for the scientific study of religion
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| Persistent identifiers: | DOI: 10.1111/jssr.12837 |