Do national culture and board attributes influence corporate investment decisions?

Abstract

Purpose The purpose of this paper is to study the relationship between board attributes and national culture on firms’ investment decisions. Design/methodology/approach The study used data from listed firms from seven Sub-Saharan Africa countries. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which constitutes the main data analysis. Findings The multiple regression analysis results indicate a negative relationship between uncertainty avoidance (UAI) and corporate investment decisions. The study also found that there is a negative relationship between the interaction between UAI and the number of independent board members and corporate investment decisions. Originality/value This study is one of the few to measure the influence of governance variables and national culture on corporate investment decisions in Sub-Sahara Africa.

Cultural and gender diversity for ESG performance towards knowledge sharing: empirical evidence from European banks

“…(Information about the It is crucial that boards of directors (BoDs) manage ESG issues to examine sustainability risks and consider them in strategic planning and decisions. According to Garcia-Sanchez et al (2014), the success of a business is BoDs-dependent; indeed, directors are due to orient corporate responsibility by improving corporate culture, overseeing the pursuit of strategic goals and approving the corporate governance system (Aguilera et al, 2006;Jo and Harjoto, 2011;Agyei-Mensah, 2023). Scholars have studied the composition of BoDs to identify the characteristics that can motivate higher or lower financial and sustainable performance (Bauweraerts et al, 2022;Samara and Yousef, 2023;Prencipe et al, 2023).…”