We investigate the unique role and mechanisms of industry growth in firms’ risk-taking policies. We find that industry growth is negatively associated with corporate risk-taking, consistent with the prospect theory that a high-growth industry gives firms a superior external environment, which...

While most of the sub-Saharan African countries have been receiving a significant amount of foreign direct investment (FDI) and foreign aid for the last couple of decades, there is no consensus among the researchers about the contribution of FDI and foreign aid to the economic growth of African...

There is a continuously debate on whether foreign aid helps or deters the economic growth of a developing country. According to the traditional pro aid view, foreign aid increases the economic growth. On the other hand, the traditional anti aid view claims that foreign aid is detrimental to...