Religion and venture investing: A cross‐country analysis
Why this work is in the frame
A frame that forgets how it found something cannot be audited. These are the routes that admitted this work.
Bibliographic record
Abstract
Abstract Using a sample of 56 countries over the 2000–2016 period, we document lower levels of venture capital investments in more religious countries. These results are not specific to any primary religion. Furthermore, we show that the negative relation between religiosity and venture investing mainly stems from risk aversion inherent in religiosity. Our results are unlikely driven by economic clout, as we show more religious countries in fact have higher levels of domestic credit or nonfinancial investments, despite lower levels of venture investments. We also present several findings consistent with risk aversion. Venture investments in more religious countries are more likely to have successful exits and are less likely to be foreign or early‐stage deals. Our results are robust to different measures of venture investments and religiosity, and to alternative specifications that account for endogeneity.
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Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it