文章标题：Does local gambling culture affect bond yield spread? Evidence from China

发表期刊：Applied Economics Letters

发表时间：2023年6月

刊次：第6期

摘要：

We study the effect of gambling culture in the province where a firm is located on its bond yield spread. Our findings suggest that a high gambling culture translates into a high bond yield spread. In addition, the impact is more salient for firms with high operating volatility and increased default risk. Overall, the results are consistent with the notion that when firms are located in high gambling culture provinces, they are riskier, and thus bond investors ask for a high bond yield.

关键词：gambling culture；bond yield spread

博士生简介：

谢妍，中国金融学院2020级博士生，研究方向：宏观金融政策与微观企业行为