Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/53851 
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dc.contributor.authorPaligorova, Teodoraen
dc.date.accessioned2011-12-15T12:56:49Z-
dc.date.available2011-12-15T12:56:49Z-
dc.date.issued2010-
dc.identifier.pidoi:10.34989/swp-2010-3en
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
dc.language.isoengen
dc.publisher|aBank of Canada |cOttawaen
dc.relation.ispartofseries|aBank of Canada Working Paper |x2010-3en
dc.subject.jelG34en
dc.subject.jelG31en
dc.subject.ddc330en
dc.subject.keywordFinancial marketsen
dc.subject.keywordInternational topicsen
dc.subject.stwUnternehmensentwicklungen
dc.subject.stwRisikopräferenzen
dc.subject.stwEigentümerstrukturen
dc.subject.stwUnternehmensfinanzierungen
dc.subject.stwFamilienunternehmenen
dc.subject.stwWelten
dc.titleCorporate risk taking and ownership structure-
dc.typeWorking Paperen
dc.identifier.ppn618958037en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:bca:bocawp:10-3en

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