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dc.contributor.authorPaligorova, Teodoraen_US
dc.date.accessioned2011-12-15T12:56:49Z-
dc.date.available2011-12-15T12:56:49Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/53851-
dc.description.abstractThis paper investigates the determinants of corporate risk taking. Shareholders with substantial equity ownership in a single company may advocate conservative investment policies due to greater exposure to firm risk. Using a large cross-country sample, I find a positive relationship between corporate risk taking and equity ownership of the largest shareholder. This result is entirely driven by investors holding the largest equity stakes in more than one company. Family shareholders avoid corporate risk taking as their ownership increases unlike mutual funds, banks, financial and industrial companies. Stronger legal protection of shareholder rights is associated with more risk taking, while stronger legal protection of creditor rights reduces risk taking.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2010,3en_US
dc.subject.jelG34en_US
dc.subject.jelG31en_US
dc.subject.ddc330en_US
dc.subject.keywordFinancial marketsen_US
dc.subject.keywordInternational topicsen_US
dc.subject.stwUnternehmensentwicklungen_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwEigentümerstrukturen_US
dc.subject.stwUnternehmensfinanzierungen_US
dc.subject.stwFamilienunternehmenen_US
dc.subject.stwWelten_US
dc.titleCorporate risk taking and ownership structureen_US
dc.typeWorking Paperen_US
dc.identifier.ppn618958037en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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