Religious Culture and Corporate Risk taking

Abstract

This paper takes Shanghai-Shenzhen A-share listed companies as research samples from 2010-2018, and empirically tests the impact of religious culture on the level of corporate risktaking. The study found that religious culture is negatively correlated with the level of corporate risk tolerance. The research results of this paper show that the religious culture atmosphere will have a significant impact on the investment decision of the enterprise. The strong religious culture atmosphere will make the investment decision of the enterprise more conservative and may give up some high-risk but expected net present value is positive investment opportunities. The research in this paper enriches and expands the related research on religious culture and enterprise risk commitment, which has certain theoretical and practical significance for us to understand and understand the investment decision of enterprises. Keywords—religious culture; enterprise risk commitment; corporate investment decision