Do national differences in social capital and corporate ethical behaviour perceptions influence the use of collateral? Cross-country evidence
Do national differences in social capital and corporate ethical behaviour perceptions influence the use of collateral? Cross-country evidence
We study the impact of social capital and perceptions about corporate ethical behaviour on the use of collateral in corporate borrowing. Using a dataset of more than 17,500 firms operating in over 100 transition and developing countries, we find evidence that country-level social capital and better perceptions about corporate ethical behaviour are negatively associated with the likelihood to pledge collateral. In addition, these country level characteristics influence the value of collateral relative to the loan value.
765–784
Papadimitri, Panagiota
b7edf14e-3b00-4317-a6ce-8741b593d5b0
Pasiouras, Fotios
48097419-7f9d-4bd4-93a0-6ae59bdf9a0e
Tasiou, Menelaos
e402686d-dbf2-48d5-aba8-da9b4ad3701f
2 January 2020
Papadimitri, Panagiota
b7edf14e-3b00-4317-a6ce-8741b593d5b0
Pasiouras, Fotios
48097419-7f9d-4bd4-93a0-6ae59bdf9a0e
Tasiou, Menelaos
e402686d-dbf2-48d5-aba8-da9b4ad3701f
Papadimitri, Panagiota, Pasiouras, Fotios and Tasiou, Menelaos
(2020)
Do national differences in social capital and corporate ethical behaviour perceptions influence the use of collateral? Cross-country evidence.
Journal of Business Ethics, 172, .
(doi:10.1007/s10551-019-04412-4).
Abstract
We study the impact of social capital and perceptions about corporate ethical behaviour on the use of collateral in corporate borrowing. Using a dataset of more than 17,500 firms operating in over 100 transition and developing countries, we find evidence that country-level social capital and better perceptions about corporate ethical behaviour are negatively associated with the likelihood to pledge collateral. In addition, these country level characteristics influence the value of collateral relative to the loan value.
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Accepted/In Press date: 18 December 2019
Published date: 2 January 2020
Identifiers
Local EPrints ID: 469693
URI: http://eprints.soton.ac.uk/id/eprint/469693
ISSN: 0167-4544
PURE UUID: 1b439145-ba8f-4ab8-8568-c2a5b09883cb
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Date deposited: 22 Sep 2022 16:37
Last modified: 17 Mar 2024 04:13
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Author:
Panagiota Papadimitri
Author:
Fotios Pasiouras
Author:
Menelaos Tasiou
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