Globalization of corporate risk taking

Valentina Bruno and Hyun Song Shin

Journal of International Business Studies, 2014, vol. 45, issue 7, 800-820

Abstract: We explore how the interconnected nature of global finance affects corporate risk taking. We show that a common global factor known to be associated with fluctuations in cross-border banking is also strongly associated with common co-movements in corporate risk-taking across a diverse universe of international firms. Our study contributes to the international business literature as the first comprehensive investigation of how global financial conditions induce greater synchronization of risk-taking across regions and sectors.

Date: 2014
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