Gambling Preference and Board Structure

38 Pages Posted: 18 Aug 2017 Last revised: 29 Jul 2018

See all articles by Kyung Won Park

Kyung Won Park

Korea Advanced Institute of Science and Technology (KAIST)

Dongwook Seo

Korea Advanced Institute of Science and Technology (KAIST)

Seung Hun Han

Korea Advanced Institute of Science and Technology (KAIST) - Department of Management Science

Date Written: August 18, 2017

Abstract

This study investigates the cultural determinant of board structure by examining the impact of the geographic divergence of gambling preference induced by religion. Using the county’s Catholic-to-Protestant ratio to proxy for gambling preference, we find that firms headquartered in gambling-prone regions tend to have smaller and less independent boards. We argue that the religiously induced risk-taking environment of the county influences the firms headquartered there, and this influence is reflected in the firm’s board structure. Thus, this study contributes to the literature on cultural determinants of board structure.

Suggested Citation

Park, Kyung Won and Seo, Dongwook and Han, Seung Hun, Gambling Preference and Board Structure (August 18, 2017). Available at SSRN: https://ssrn.com/abstract=3021712 or http://dx.doi.org/10.2139/ssrn.3021712

Kyung Won Park (Contact Author)

Korea Advanced Institute of Science and Technology (KAIST) ( email )

373-1 Kusong-dong
Yuson-gu
Taejon 305-701, 130-722
Korea, Republic of (South Korea)

Dongwook Seo

Korea Advanced Institute of Science and Technology (KAIST) ( email )

373-1 Kusong-dong
Yuson-gu
Taejon 305-701, 130-722
Korea, Republic of (South Korea)

Seung Hun Han

Korea Advanced Institute of Science and Technology (KAIST) - Department of Management Science ( email )

291 Daehak-ro(373-1 Guseong-dong), Yuseong-gu
Daejeon, 305-701
Korea, Republic of (South Korea)

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