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...
| VerfasserInnen: | ; ; |
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| Medienart: | Elektronisch Aufsatz |
| Sprache: | Englisch |
| Verfügbarkeit prüfen: | HBZ Gateway |
| Journals Online & Print: | Lade...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Veröffentlicht: |
Wiley-Blackwell
2023
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| In: |
Journal for the scientific study of religion
Jahr: 2023, Band: 62, Heft: 2, Seiten: 451-475 |
| normierte Schlagwort(-folgen): | B
USA
/ Katholizismus
/ Protestantismus
/ Religiosität
/ Hedge Fund
/ Derivat (Wertpapier)
/ Spekulation (Wirtschaft)
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| RelBib Classification: | AE Religionspsychologie CB Christliche Existenz; Spiritualität KBQ Nordamerika KDB Katholische Kirche KDD Evangelische Kirche NCE Wirtschaftsethik |
| weitere Schlagwörter: | B
derivatives
B Religion B hedge funds B Religiosity |
| Online Zugang: |
Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
| Zusammenfassung: | 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 |
| Enthält: | Enthalten in: Journal for the scientific study of religion
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| Persistent identifiers: | DOI: 10.1111/jssr.12837 |