This paper examines the effect of national culture on corporate risk-taking around the world. Specifically, we focus on one particular culture trait – individualism – a culture dimension that has been linked to risk-taking and overconfidence. Using a sample of 48 countries over the period...

We examine the relationship between national culture and a country’s Bitcoin usage. Given that Bitcoin is a high-risk currency/investment that is frequently used for illegal purposes and whose market is relatively opaque, we focus on the cultural dimension of individualism, which has been...

Momentum strategies suffer from occasional large drawdowns referred to as momentum crashes when the market rebounds. This paper documents that stocks far from peaks outperform stocks near peaks, and momentum crashes are attributable to such outperformance. Market rebounds triggers increase in...