• Medientyp: E-Book
  • Titel: Culture, Openness, and Finance
  • Beteiligte: Williamson, Rohan [VerfasserIn]; Stulz, René M. [Sonstige Person, Familie und Körperschaft]
  • Erschienen: [S.l.]: SSRN[2012]
  • Erschienen als:  NBER Working Paper ; No. w8222
  • Umfang: 1 Online-Ressource (46 p)
  • Sprache: Nicht zu entscheiden
  • Beschreibung: Religions have little to say about shareholders but have much to say about creditors. We find that the origin of a country's legal system is more important than its religion and language in explaining shareholder rights. However, a country's principal religion helps predict the cross-sectional variation in creditor rights better than a country's openness to international trade, its language, its income per capita, or the origin of its legal system. Catholic countries protect the rights of creditors less than other countries, and long-term debt is less important in these countries. A country's openness to international trade mitigates the influence of religion on creditor rights. Religion and language are also important predictors of how countries enforce rights
  • Anmerkungen: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 2001 erstellt