Good Deeds Earn Chits? Evidence from Philanthropic Family Controlled Firms

TY - JOUR

T1 - Good Deeds Earn Chits? Evidence from Philanthropic Family Controlled Firms

AU - Wang, Li-Hsun

AU - Lin, Chu-Hsiung

AU - Kao, Erin H.

AU - Fung, Hung-Gay

N1 - Li-Hsun Wang Chu-Hsiung Lin Erin H. Kao Hung-Gay Fung This study examines whether charitable family controlled firms have lower default risk. Using Taiwan data that provide clear information about firms' benevolent intention and avoid endogeneity issue of risk and charitable activities, we show that charitable family controlled firms have lower default risk, which is proxied by value-at-risk and expected shortfall measures.

PY - 2017/10/1

Y1 - 2017/10/1

UR - https://link.springer.com/content/pdf/10.1007%2Fs11156-016-0607-8.pdf

U2 - 10.1007/s11156-016-0607-8

DO - 10.1007/s11156-016-0607-8

M3 - Article

VL - 49

JO - Review of Quantitative Finance and Accounting

JF - Review of Quantitative Finance and Accounting

ER -