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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...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Place of publication not identified] :
International Monetary Fund,
2012.
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| Colección: | IMF working paper ;
WP/12/210. |
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| Acceso en línea: | Texto completo |
| Sumario: | 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. |
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| Descripción Física: | 1 online resource : illustrations, maps |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 9781475585162 1475585160 9781475543834 1475543832 1475505604 9781475505603 1475515626 9781475515626 |