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In family we trust: Religiosity and credit rationing in family-owned firms

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  • Peruzzi, Valentina

Abstract

This paper investigates the influence of regional religiosity on credit rationing for family-owned firms in Italy. By using data from the VIII UniCredit Survey on medium-sized enterprises, we examine how the intersection of family ownership and religious engagement is related with firms’ access to credit. The results indicate that family firms are generally more likely to face credit restrictions; however, this likelihood is significantly reduced in regions with high levels of religious participation. This suggests that religious norms, which convey trustworthiness and lower risk in family firms, enhance their chances of obtaining credit from banks.

Suggested Citation

  • Peruzzi, Valentina, 2024. "In family we trust: Religiosity and credit rationing in family-owned firms," Economics Letters, Elsevier, vol. 243(C).
    • Handle: RePEc:eee:ecolet:v:243:y:2024:i:c:s0165176524004373
    DOI: 10.1016/j.econlet.2024.111953
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    More about this item

    Keywords

    Family firms; Credit rationing; Religion; Corporate culture;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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