Entrepreneurs happiness, personal initiatives and firm performance: evidence from China

Song, Lihong; Lu, Yongshi; Li, Xinchun

doi:10.17261/pressacademia.2015312981

Cited by 2 publications

(2 citation statements)

References 17 publications

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“…For example, Guiso et al (2009) showed that trust between inhabitants of different countries is partly explained by the commonality in languages. Personal initiatives of entrepreneurs are greatly related to firm's policy, and thus, influence the performance and value of firms (Song et al, 2015). The cultural heterogeneity data was drawn from the China 9 Economics is currently experiencing a rapid increase in research related to country culture and its impact on behavior and decision-making by individuals, as well as corporations.…”

Section: Controlling For Regional and Cultural Economic Heterogeneitymentioning

confidence: 99%

Speak out your risk: Dialectal effects on merger decisions

Jiao

Rao

Guo

et al. 2018

Pacific-Basin Finance Journal

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The "biological code" of a language can be measured by tone patterns and pitch heights, which are recognized to foster and promote certain personal traits like self-confidence and risk tolerance. Guided by linguistic and financial research, this study examines the impact of Chinese dialects on CEOs' merger decisions. We hypothesize that CEOs in China who speak different dialects may have different tendencies to engage in risky activities, like mergers and acquisitions (M&As). Results suggest that CEOs who speak dialects with fewer rising tones and higher pitch are more likely to undertake M&As, while CEOs who speak dialects with more rising tones and lower pitch are less likely to undertake M&As. The results are robust to various specifications, including the impact of local economic and regional cultural factors.Additionally, firms' performances after M&As are evaluated. The results suggest that CEOs' overconfidence and high-risk tolerance are likely to cause M&As to be less successful in the long run.

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Section: Controlling For Regional and Cultural Economic Heterogeneitymentioning

confidence: 99%

Speak out your risk: Dialectal effects on merger decisions

Jiao

Rao

Guo

et al. 2018

Pacific-Basin Finance Journal

View full text Add to dashboard Cite

show abstract

Section: Controlling For Regional and Cultural Economic Heterogeneitymentioning

confidence: 99%

Speak Out Your Risk: Dialectal Effects on Merger Decisions

et al. 2017

View full text Add to dashboard Cite

The "biological code" of a language can be measured by tone patterns and pitch heights, which are recognized to foster and promote certain personal traits like self-confidence and risk tolerance. Guided by linguistic and financial research, this study examines the impact of Chinese dialects on CEOs' merger decisions. We hypothesize that CEOs in China who speak different dialects may have different tendencies to engage in risky activities, like mergers and acquisitions (M&As). Results suggest that CEOs who speak dialects with fewer rising tones and higher pitch are more likely to undertake M&As, while CEOs who speak dialects with more rising tones and lower pitch are less likely to undertake M&As. The results are robust to various specifications, including the impact of local economic and regional cultural factors. Additionally, firms' performances after M&As are evaluated. The results suggest that CEOs' overconfidence and high-risk tolerance are likely to cause M&As to be less successful in the long run.

show abstract

Entrepreneurs happiness, personal initiatives and firm performance: evidence from China

Cited by 2 publications

References 17 publications

Speak out your risk: Dialectal effects on merger decisions

Speak out your risk: Dialectal effects on merger decisions

Speak Out Your Risk: Dialectal Effects on Merger Decisions

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