Creditor rights and corporate risk-taking

By V. Acharya, Y. Amihud, Lubomir P. Litov. 2009

675 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/af656a56f3e9cdfa85de43c794bf1c47d705c96c

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Citations in the corpus

Playing It Safe? Managerial Preferences, Risk, and Agency Conflicts (2016, background): “First, prior evidence suggests that managers use diversifying acquisitions as a way to reduce their firms’ risk (Amihud and Lev, 1981; May, 1995; Cai and Vijh, 2007; Acharya, Amihud, and Litov, 2011; Gormley and Matsa, 2011).”
National Culture and Corporate Cash Holdings around the World (2015, methodology): “, 2006; Kalcheva and Lins, 2007 and Acharya et al., 2011) and include GDP growth, GDP per capita, private credit, external finance, investor protection, common law, and corruption index as additional control variables in our regression analysis.(15)Our first and second country-level control variable”
The Role of State and Foreign Owners in Corporate Risk-Taking: Evidence from Privatization (2013, neutral): “While prior research focuses on the institutional determinants of risk-taking (John et al., 2008; Griffen et al., 2009 and Acharya et al., 2011) or on the link between risk-taking and shareholder diversification/concentration (Paligorova, 2010 and Faccio et al., 2011) for publicly traded firms, we…”
Corporate governance reform and risk-taking: Evidence from a quasi-natural experiment in an emerging market (2020, background): “the risk-taking of a firm, because of their fiduciary stake and their concave payoffs (Acharya et al., 2011).”
How Does Culture Influence Corporate Risk-Taking? (2012, positive): “…are negatively, related to formal institutional development—especially marketbased financial systems—which in turn encourages corporate risk-taking (see John et al. (2008) and Acharya et al. (2011) for supporting evidence, but also see Claessens et al. (2000) for some evidence to the contrary).”
The Role of Information Sharing in Modulating the Effect of Financial Access on Inequality (2019, background): “5 inter alia: risk-taking by banks (Acharya et al., 2011; Houston et al., 2010); reducing market”
The differential impact of leverage on the default risk of small and large firms (2020, background): “In contrast, Acharya et al. (2011) find that firms in countries with stronger creditor rights have lower cash flow risk and lower financial leverage.(18) To reconcile these different observations, Heitz and Narayanamoorthy (2018) point out that different creditor-right laws, such as that assuring th”
Effects of culture on firm risk-taking: a cross-country and cross-industry analysis (2012, positive): “Stronger creditor rights in bankruptcy tend to reduce corporate risk-taking (Acharya et al. 2010), while stronger shareholder rights tend to increase firm risk-taking (John et al.”
Taxation and Corporate Risk-Taking (2017, methodology): “Moreover, following Acharya et al. (2011), we include country-level macroeconomic risk ( Macro Risk ), measured by the standard deviation of the quarterly growth in real industrial production.”