Boubakri, Narjess; Cosset, Jean-Claude; Saffar, Walid - In: Journal of Financial Economics 108 (2013) 3, pp. 641-658
Using a unique database of 381 newly privatized firms from 57 countries, we investigate the impact of shareholders' identity on corporate risk-taking behavior. We find strong and robust evidence that state (foreign) ownership is negatively (positively) related to corporate risk-taking. Moreover,...
