“…This composite index has been widely used in the international business literature (Barkema, et al, 1996;Flores & Aguilera, 2007;Lee, Shenkar, & Li, 2008;Loree & Guisinger, 1995;Meschi & Riccio, 2008;Park & Ungson, 1997;Thomas & Grosse, 2001;Tihanyi, Griffith, & Russell, 2005). Although other measures of cultural distance have been suggested (Barkema, et al, 1996;Drogendijk & Slangen, 2006;Park & Ungson, 1997;Ronen & Shenkar, 1985;Schwartz, 1994;Shenkar, 2001), Drogendijk and Slangen (2006) show that "it may be premature to dismiss Hofstede's work as outdated or as inaccurately reflecting national cultures". We also calculate the cultural distance between the home and host country on each individual cultural dimension, as suggested by Shenkar (2001 representing one third (34%) of all Indian deals in our sample.…”