Religious beliefs, socially responsible investment, and cost of debt: Evidence from entrepreneurial firms in India

Changhong Li, Yuan Xu, Amarjit Gill, Zulfiquer Ali Haider and Yuan Wang

Emerging Markets Review, 2019, vol. 38, issue C, 102-114

Abstract: We use hand-collected survey data to study the joint effect of religious beliefs and socially responsible investment on the cost of debt. We also examine the moderating effect of an entrepreneur's gender on the impacts of religious beliefs on socially responsible investment. Our results show that entrepreneurial firms with religious owners invest more in social responsibility, and those with more socially responsible investment pay a lower cost of debt. We also find that the effect of religious beliefs on socially responsible investment is stronger when the entrepreneur is female.

Keywords: Religious beliefs; Social responsibility; Cost of debt; Entrepreneurial firms (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1566014118304059
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:38:y:2019:i:c:p:102-114

DOI: 10.1016/j.ememar.2018.12.001

Access Statistics for this article

Emerging Markets Review is currently edited by Jonathan A. Batten

More articles in Emerging Markets Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().