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dc.contributor.authorChen, Yangyang
dc.contributor.authorMurgulov, Zoltan
dc.contributor.authorRhee, S. Ghon
dc.contributor.authorVeeraraghavan, Madhu
dc.date.accessioned2018-03-29T04:09:59Z
dc.date.available2018-03-29T04:09:59Z
dc.date.issued2016
dc.identifier.issn0927-5398
dc.identifier.doi10.1016/j.jempfin.2016.07.009
dc.identifier.urihttp://hdl.handle.net/10072/172395
dc.description.abstractThis paper is the first to examine the association between religious beliefs and the local government financing, investment and cash holding decisions. Using a sample of 15,204 county-year observations for census years between 1992 and 2012, we show that the degree of religiosity is negatively associated with the level of local government debt and investments while it is positively associated with accumulated cash holdings. Our results indicate that local governments in counties with a higher degree of religiosity are more conservatively managed. To validate the main findings we conduct a range of robustness tests and demonstrate that our main results hold.
dc.description.peerreviewedYes
dc.languageEnglish
dc.publisherElsevier BV
dc.relation.ispartofpagefrom258
dc.relation.ispartofpageto271
dc.relation.ispartofissuePart A
dc.relation.ispartofjournalJournal of Empirical Finance
dc.relation.ispartofvolume38
dc.subject.fieldofresearchBanking, Finance and Investment not elsewhere classified
dc.subject.fieldofresearchApplied Economics
dc.subject.fieldofresearchEconometrics
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchcode150299
dc.subject.fieldofresearchcode1402
dc.subject.fieldofresearchcode1403
dc.subject.fieldofresearchcode1502
dc.titleReligious beliefs and local government financing, investment, and cash holding decisions
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.hasfulltextNo Full Text
gro.griffith.authorVeeraraghavan, Madhu


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