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  • religiosity_and_VCs_02-12-19_final

    Rights statement: This is the author’s version of a work that was accepted for publication in Journal of Corporate Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Corporate Finance, 62, 2020 DOI: 10.1016/j.jcorpfin.2020.101589

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Does religiosity influence venture capital investment decisions?

Research output: Contribution to Journal/MagazineJournal articlepeer-review

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Does religiosity influence venture capital investment decisions? / Chircop, J.; Johan, S.; Tarsalewska, M.

In: Journal of Corporate Finance, Vol. 62, 101589, 30.06.2020.

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Harvard

Chircop, J, Johan, S & Tarsalewska, M 2020, 'Does religiosity influence venture capital investment decisions?', Journal of Corporate Finance, vol. 62, 101589. https://doi.org/10.1016/j.jcorpfin.2020.101589

APA

Chircop, J., Johan, S., & Tarsalewska, M. (2020). Does religiosity influence venture capital investment decisions? Journal of Corporate Finance, 62, [101589]. https://doi.org/10.1016/j.jcorpfin.2020.101589

Vancouver

Chircop J, Johan S, Tarsalewska M. Does religiosity influence venture capital investment decisions? Journal of Corporate Finance. 2020 Jun 30;62:101589. Epub 2020 Feb 8. doi: 10.1016/j.jcorpfin.2020.101589

Author

Chircop, J. ; Johan, S. ; Tarsalewska, M. / Does religiosity influence venture capital investment decisions?. In: Journal of Corporate Finance. 2020 ; Vol. 62.

Bibtex

@article{189469a8ef6349a5b96ee44f54c35a8d,
title = "Does religiosity influence venture capital investment decisions?",
abstract = "Theories on contextual behavior (e.g., social norm, self-identity, and legitimacy theories) suggest that the religiosity of the geographical area in which an organization operates influences its behavior. Using a sample of 91,020 VC investments in the U.S., we study whether religiosity influences VC investment decisions. Based on prior literature that finds a positive relation between religiosity and risk aversion, we posit that VCs located in more religious counties make less risky investments. We find that VCs located in more religious areas are more likely to be involved in staging and syndication and have a greater propensity to invest in later and expansion stages of portfolio companies. Taken together, our results suggest that VCs located in religious counties tend to be more risk averse.",
keywords = "Religiosity, Venture capital, Risk aversion",
author = "J. Chircop and S. Johan and M. Tarsalewska",
note = "This is the author{\textquoteright}s version of a work that was accepted for publication in Journal of Corporate Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Corporate Finance, 62, 2020 DOI: 10.1016/j.jcorpfin.2020.101589",
year = "2020",
month = jun,
day = "30",
doi = "10.1016/j.jcorpfin.2020.101589",
language = "English",
volume = "62",
journal = "Journal of Corporate Finance",
issn = "0929-1199",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - Does religiosity influence venture capital investment decisions?

AU - Chircop, J.

AU - Johan, S.

AU - Tarsalewska, M.

N1 - This is the author’s version of a work that was accepted for publication in Journal of Corporate Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Corporate Finance, 62, 2020 DOI: 10.1016/j.jcorpfin.2020.101589

PY - 2020/6/30

Y1 - 2020/6/30

N2 - Theories on contextual behavior (e.g., social norm, self-identity, and legitimacy theories) suggest that the religiosity of the geographical area in which an organization operates influences its behavior. Using a sample of 91,020 VC investments in the U.S., we study whether religiosity influences VC investment decisions. Based on prior literature that finds a positive relation between religiosity and risk aversion, we posit that VCs located in more religious counties make less risky investments. We find that VCs located in more religious areas are more likely to be involved in staging and syndication and have a greater propensity to invest in later and expansion stages of portfolio companies. Taken together, our results suggest that VCs located in religious counties tend to be more risk averse.

AB - Theories on contextual behavior (e.g., social norm, self-identity, and legitimacy theories) suggest that the religiosity of the geographical area in which an organization operates influences its behavior. Using a sample of 91,020 VC investments in the U.S., we study whether religiosity influences VC investment decisions. Based on prior literature that finds a positive relation between religiosity and risk aversion, we posit that VCs located in more religious counties make less risky investments. We find that VCs located in more religious areas are more likely to be involved in staging and syndication and have a greater propensity to invest in later and expansion stages of portfolio companies. Taken together, our results suggest that VCs located in religious counties tend to be more risk averse.

KW - Religiosity

KW - Venture capital

KW - Risk aversion

U2 - 10.1016/j.jcorpfin.2020.101589

DO - 10.1016/j.jcorpfin.2020.101589

M3 - Journal article

VL - 62

JO - Journal of Corporate Finance

JF - Journal of Corporate Finance

SN - 0929-1199

M1 - 101589

ER -