Effects of culture on firm risk-taking :: a cross-country and cross-industry analysis /
This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic firms in countries with low uncertainty aversion, low tolerance for hierarchical relation...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Place of publication not identified] :
International Monetary Fund,
2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/210. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic firms in countries with low uncertainty aversion, low tolerance for hierarchical relationships, and high individualism. Domestic firms in such countries tend to take substantially more risk in industries which are more informationally opaque (e.g. finance, mining, IT). Risk-taking by foreign firms is best explained by the cultural norms of their country of origin. These cultural norms d. |
| Beschreibung: | 1 online resource : illustrations, maps |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 9781475585162 1475585160 9781475543834 1475543832 1475505604 9781475505603 1475515626 9781475515626 |
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| 100 | 1 | |a Mihet, Roxana, |e author. |0 http://id.loc.gov/authorities/names/no2012047163 | |
| 245 | 1 | 0 | |a Effects of culture on firm risk-taking : |b a cross-country and cross-industry analysis / |c [prepared by] Roxana Mihet. |
| 264 | 1 | |a [Place of publication not identified] : |b International Monetary Fund, |c 2012. | |
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| 505 | 0 | |a Cover; Table of Contents; I. Introduction; II. Literature Review; III. Data; A. Measuring National Culture; B. Limitations of Cultural Variables; Tables; 1. Correlation Matrix of National Cultural Dimensions; C. Measuring Firm Risk-Taking; D. Measuring Industry Informational Opacity; 2. Industry Informational Opacity; E. Control Variables; IV. Hypotheses Development; A. Direct Effects of Culture; B. Indirect Effects of Culture; 3. Correlation Matrix between National Culture and Governance Indicators; 4. Correlation Matrix between National Culture and Protection Mechanisms. | |
| 505 | 8 | |a 5. Correlation Matrix between National Culture and Industry IndicatorsV. Empirical Model; VI. Results and Discussion; A. Direct Effects of Culture; 6. Effects of National Culture on Corporate Risk-Taking; B. Indirect Effects of Culture; VII. Accentuating/ Moderating Factors; 7. Accentuating/Moderating Factors; VIII. Further Identification Test: Foreign vs. Domestic Firms; 8. Foreign Firms. Risk-Taking Behavior and Culture; IX. Concluding Remarks; X. References; Appendix; A. Measuring National Culture; B: Measuring Industry Informational Opacity; C. Regression Results. | |
| 520 | |a This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic firms in countries with low uncertainty aversion, low tolerance for hierarchical relationships, and high individualism. Domestic firms in such countries tend to take substantially more risk in industries which are more informationally opaque (e.g. finance, mining, IT). Risk-taking by foreign firms is best explained by the cultural norms of their country of origin. These cultural norms d. | ||
| 546 | |a English. | ||
| 650 | 0 | |a Corporate governance. |0 http://id.loc.gov/authorities/subjects/sh88007569 | |
| 650 | 0 | |a Culture |x Economic aspects |x Econometric models. | |
| 650 | 0 | |a Risk |x Econometric models. | |
| 650 | 0 | |a Corporate culture |x Econometric models. | |
| 650 | 6 | |a Gouvernement d'entreprise. | |
| 650 | 6 | |a Risque |x Modèles économétriques. | |
| 650 | 6 | |a Culture organisationnelle |x Modèles économétriques. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Industrial Management. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Management. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Management Science. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Organizational Behavior. |2 bisacsh | |
| 650 | 7 | |a Corporate governance |2 fast | |
| 650 | 7 | |a Risk |x Econometric models |2 fast | |
| 710 | 2 | |a International Monetary Fund. |b Research Department. |0 http://id.loc.gov/authorities/names/n77001219 | |
| 758 | |i has work: |a Effects of culture on firm risk-taking (Text) |1 https://id.oclc.org/worldcat/entity/E39PCFtCxPbX7CC8MrcgRhFfHK |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Mihet, Roxana. |t Effects of Culture on Firm Risk-Taking: A Cross-Country and Cross-Industry Analysis. |d Washington : International Monetary Fund, ©2012 |z 9781475505603 |
| 830 | 0 | |a IMF working paper ; |v WP/12/210. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| author | Mihet, Roxana |
| author_GND | http://id.loc.gov/authorities/names/no2012047163 |
| author_corporate | International Monetary Fund. Research Department |
| author_corporate_role | |
| author_facet | Mihet, Roxana International Monetary Fund. Research Department |
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| contents | Cover; Table of Contents; I. Introduction; II. Literature Review; III. Data; A. Measuring National Culture; B. Limitations of Cultural Variables; Tables; 1. Correlation Matrix of National Cultural Dimensions; C. Measuring Firm Risk-Taking; D. Measuring Industry Informational Opacity; 2. Industry Informational Opacity; E. Control Variables; IV. Hypotheses Development; A. Direct Effects of Culture; B. Indirect Effects of Culture; 3. Correlation Matrix between National Culture and Governance Indicators; 4. Correlation Matrix between National Culture and Protection Mechanisms. 5. Correlation Matrix between National Culture and Industry IndicatorsV. Empirical Model; VI. Results and Discussion; A. Direct Effects of Culture; 6. Effects of National Culture on Corporate Risk-Taking; B. Indirect Effects of Culture; VII. Accentuating/ Moderating Factors; 7. Accentuating/Moderating Factors; VIII. Further Identification Test: Foreign vs. Domestic Firms; 8. Foreign Firms. Risk-Taking Behavior and Culture; IX. Concluding Remarks; X. References; Appendix; A. Measuring National Culture; B: Measuring Industry Informational Opacity; C. Regression Results. |
| ctrlnum | (OCoLC)936322196 |
| dewey-full | 658.4 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.4 |
| dewey-search | 658.4 |
| dewey-sort | 3658.4 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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Introduction; II. Literature Review; III. Data; A. Measuring National Culture; B. Limitations of Cultural Variables; Tables; 1. Correlation Matrix of National Cultural Dimensions; C. Measuring Firm Risk-Taking; D. Measuring Industry Informational Opacity; 2. Industry Informational Opacity; E. Control Variables; IV. Hypotheses Development; A. Direct Effects of Culture; B. Indirect Effects of Culture; 3. Correlation Matrix between National Culture and Governance Indicators; 4. Correlation Matrix between National Culture and Protection Mechanisms.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">5. Correlation Matrix between National Culture and Industry IndicatorsV. Empirical Model; VI. Results and Discussion; A. Direct Effects of Culture; 6. Effects of National Culture on Corporate Risk-Taking; B. Indirect Effects of Culture; VII. Accentuating/ Moderating Factors; 7. Accentuating/Moderating Factors; VIII. Further Identification Test: Foreign vs. Domestic Firms; 8. Foreign Firms. Risk-Taking Behavior and Culture; IX. Concluding Remarks; X. References; Appendix; A. Measuring National Culture; B: Measuring Industry Informational Opacity; C. Regression Results.</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic firms in countries with low uncertainty aversion, low tolerance for hierarchical relationships, and high individualism. Domestic firms in such countries tend to take substantially more risk in industries which are more informationally opaque (e.g. finance, mining, IT). Risk-taking by foreign firms is best explained by the cultural norms of their country of origin. 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| id | ZDB-4-EBA-ocn936322196 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:27:01Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/n77001219 |
| isbn | 9781475585162 1475585160 9781475543834 1475543832 1475505604 9781475505603 1475515626 9781475515626 |
| language | English |
| oclc_num | 936322196 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource : illustrations, maps |
| psigel | ZDB-4-EBA |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Mihet, Roxana, author. http://id.loc.gov/authorities/names/no2012047163 Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / [prepared by] Roxana Mihet. [Place of publication not identified] : International Monetary Fund, 2012. 1 online resource : illustrations, maps text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file IMF working paper ; WP/12/210 Includes bibliographical references. Vendor-supplied metadata. Cover; Table of Contents; I. Introduction; II. Literature Review; III. Data; A. Measuring National Culture; B. Limitations of Cultural Variables; Tables; 1. Correlation Matrix of National Cultural Dimensions; C. Measuring Firm Risk-Taking; D. Measuring Industry Informational Opacity; 2. Industry Informational Opacity; E. Control Variables; IV. Hypotheses Development; A. Direct Effects of Culture; B. Indirect Effects of Culture; 3. Correlation Matrix between National Culture and Governance Indicators; 4. Correlation Matrix between National Culture and Protection Mechanisms. 5. Correlation Matrix between National Culture and Industry IndicatorsV. Empirical Model; VI. Results and Discussion; A. Direct Effects of Culture; 6. Effects of National Culture on Corporate Risk-Taking; B. Indirect Effects of Culture; VII. Accentuating/ Moderating Factors; 7. Accentuating/Moderating Factors; VIII. Further Identification Test: Foreign vs. Domestic Firms; 8. Foreign Firms. Risk-Taking Behavior and Culture; IX. Concluding Remarks; X. References; Appendix; A. Measuring National Culture; B: Measuring Industry Informational Opacity; C. Regression Results. This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic firms in countries with low uncertainty aversion, low tolerance for hierarchical relationships, and high individualism. Domestic firms in such countries tend to take substantially more risk in industries which are more informationally opaque (e.g. finance, mining, IT). Risk-taking by foreign firms is best explained by the cultural norms of their country of origin. These cultural norms d. English. Corporate governance. http://id.loc.gov/authorities/subjects/sh88007569 Culture Economic aspects Econometric models. Risk Econometric models. Corporate culture Econometric models. Gouvernement d'entreprise. Risque Modèles économétriques. Culture organisationnelle Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Corporate governance fast Risk Econometric models fast International Monetary Fund. Research Department. http://id.loc.gov/authorities/names/n77001219 has work: Effects of culture on firm risk-taking (Text) https://id.oclc.org/worldcat/entity/E39PCFtCxPbX7CC8MrcgRhFfHK https://id.oclc.org/worldcat/ontology/hasWork Print version: Mihet, Roxana. Effects of Culture on Firm Risk-Taking: A Cross-Country and Cross-Industry Analysis. Washington : International Monetary Fund, ©2012 9781475505603 IMF working paper ; WP/12/210. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568143 Volltext |
| spellingShingle | Mihet, Roxana Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / IMF working paper ; Cover; Table of Contents; I. Introduction; II. Literature Review; III. Data; A. Measuring National Culture; B. Limitations of Cultural Variables; Tables; 1. Correlation Matrix of National Cultural Dimensions; C. Measuring Firm Risk-Taking; D. Measuring Industry Informational Opacity; 2. Industry Informational Opacity; E. Control Variables; IV. Hypotheses Development; A. Direct Effects of Culture; B. Indirect Effects of Culture; 3. Correlation Matrix between National Culture and Governance Indicators; 4. Correlation Matrix between National Culture and Protection Mechanisms. 5. Correlation Matrix between National Culture and Industry IndicatorsV. Empirical Model; VI. Results and Discussion; A. Direct Effects of Culture; 6. Effects of National Culture on Corporate Risk-Taking; B. Indirect Effects of Culture; VII. Accentuating/ Moderating Factors; 7. Accentuating/Moderating Factors; VIII. Further Identification Test: Foreign vs. Domestic Firms; 8. Foreign Firms. Risk-Taking Behavior and Culture; IX. Concluding Remarks; X. References; Appendix; A. Measuring National Culture; B: Measuring Industry Informational Opacity; C. Regression Results. Corporate governance. http://id.loc.gov/authorities/subjects/sh88007569 Culture Economic aspects Econometric models. Risk Econometric models. Corporate culture Econometric models. Gouvernement d'entreprise. Risque Modèles économétriques. Culture organisationnelle Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Corporate governance fast Risk Econometric models fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh88007569 |
| title | Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / |
| title_auth | Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / |
| title_exact_search | Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / |
| title_full | Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / [prepared by] Roxana Mihet. |
| title_fullStr | Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / [prepared by] Roxana Mihet. |
| title_full_unstemmed | Effects of culture on firm risk-taking : a cross-country and cross-industry analysis / [prepared by] Roxana Mihet. |
| title_short | Effects of culture on firm risk-taking : |
| title_sort | effects of culture on firm risk taking a cross country and cross industry analysis |
| title_sub | a cross-country and cross-industry analysis / |
| topic | Corporate governance. http://id.loc.gov/authorities/subjects/sh88007569 Culture Economic aspects Econometric models. Risk Econometric models. Corporate culture Econometric models. Gouvernement d'entreprise. Risque Modèles économétriques. Culture organisationnelle Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Corporate governance fast Risk Econometric models fast |
| topic_facet | Corporate governance. Culture Economic aspects Econometric models. Risk Econometric models. Corporate culture Econometric models. Gouvernement d'entreprise. Risque Modèles économétriques. Culture organisationnelle Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. BUSINESS & ECONOMICS Management. BUSINESS & ECONOMICS Management Science. BUSINESS & ECONOMICS Organizational Behavior. Corporate governance Risk Econometric models |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568143 |
| work_keys_str_mv | AT mihetroxana effectsofcultureonfirmrisktakingacrosscountryandcrossindustryanalysis AT internationalmonetaryfundresearchdepartment effectsofcultureonfirmrisktakingacrosscountryandcrossindustryanalysis |