The Impact of National Economic Culture and Country-Level Institutional Environment on Corporate Governance Practices

Daniel, Shirley J.; Cieslewicz, Joshua K.; Pourjalali, Hamid

doi:10.1007/s11575-011-0108-x

Cited by 92 publications

(116 citation statements)

References 54 publications

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“…Culture results from and affects behaviours and values, and is therefore likely to affect political regimes, the legal system and norms, corporate goals and values, and consequently corporate finance and governance (see Lüpold and Schnyder 2009;Daniel et al 2012).…”

Section: Institutions Culture and Corporate Governancementioning

confidence: 99%

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Culture and Corporate Governance: The Influence of Language and Religion in Switzerland

Volonté

2014

Manag Int Rev

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We investigate the effect of culture on corporate governance using the extraordinary opportunity that the corporate landscape of Switzerland provides. Within a single institutional framework (e.g., Swiss federal corporate law), we use language (German and French) and religion (Roman Catholicism and Protestantism) as proxies for culture. These groups share a distinct set of values particularly in their tolerance for hierarchical structures. We observe that firms in Swiss French areas and firms in Roman Catholic cantons are more likely to have one-tier boards, whereas two-tier boards are more prevalent in Swiss German areas and Protestant cantons. Furthermore, board composition is significantly driven by language. In contrast, ownership and equity structure are not significantly related to culture.

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Section: Institutions Culture and Corporate Governancementioning

confidence: 99%

“…It is therefore obvious for researchers to include culture in their analyses on corporate finance and governance (see; Bebchuk and Roe 1999;Clarke and dela Rama 2006;Aguilera and Jackson 2010;Daniel et al 2012). As a result, culture has been analyzed as a determinant of various economic outcomes.…”

Section: Institutions Culture and Corporate Governancementioning

confidence: 99%

Culture and Corporate Governance: The Influence of Language and Religion in Switzerland

Volonté

2014

Manag Int Rev

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“…Berry et al (2010) contended that while formal institutions refer to economic, political and regulatory institutions, informal institutions include cultural institutions. Daniel, Cieslewicz, and Pourjalali (2012) argued that cultural influences on business practices are indirect, through the development of institutional systems. Hence, culture seems to permeate and contribute to build the institutional environment.…”

Section: Discussionmentioning

confidence: 99%

A Bibliometric Study on Culture Research in International Business

Pinto

Serra

Ferreira

2014

BAR, Braz. Adm. Rev.

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National cultures and cultural differences provide a crucial component of the international business (IB) research context. We conducted a bibliometric study of articles published in seven leading IB journals over a period of three decades to analyze how national culture has been impacting IB research. Co-citation mappings permit us to identify the ties binding works dealing with culture and cultural issues in IB. We identify two main clusters of research, each comprising two sub-clusters, with Hofstede's (1980) work delineating much of the conceptual and empirical approach to culture-related studies. One main cluster entails works on the conceptualization of culture and its dimensions and the other cluster focuses on cultural distance. This conceptual framework captures the extant IB research incorporating culture-related concepts and influences.

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“…He found that culture is important and provides explanatory power for disclosure. Following the thread of discussion, Daniel, Cieslewicz, and Pourjalali (2012) conducted a study to investigate impact of culture and institutional environment on corporate governance practices. They employed structural equation modeling.…”

Section: Effect Of Socio-economic Factors On Corporate Governancementioning

confidence: 99%

Corporate Governance, Socio-Economic Factors and Economic Growth: Theoretical Analysis

Arslan

Roudaki²

2017

ijafr

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Corporate governance (CG) fosters dynamic economic growth through managing stakeholder interest and reducing the cost of capital which ultimately lead towards the development of financial markets and better firm performance. Recently, regulators and policy makers around the world either have revised extensively or introduced new laws, codes and listing regulations to enhance effectiveness and transparency of corporate governance practices. Established economic theories were already aware of the significance of corporate governance for development and economic growth. This study assesses the link between corporate governance, socio-economic factors and economic growth through a consistent literature review. A majority of studies show a positive effect of corporate governance on economic growth of a country through stock market development. Moreover, theoretical and empirical research reveals that socio-economic factors are also a pivotal determinant of corporate governance mechanisms. This study summarizes the key findings and concludes that dynamic and flexible corporate governance system claims more demand as compared to rigorous corporate governance principles especially in emerging countries. This study also finds the need of methodological advancement in corporate governance research. Nevertheless, the social economic factors, political and legal system of the country should be blended in introduction and adaption of corporate governance system. The regulators and policy makers can use theoretical grounds o f study for reforms of the corporate governance system.

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The Impact of National Economic Culture and Country-Level Institutional Environment on Corporate Governance Practices

Cited by 92 publications

References 54 publications

Culture and Corporate Governance: The Influence of Language and Religion in Switzerland

Culture and Corporate Governance: The Influence of Language and Religion in Switzerland

A Bibliometric Study on Culture Research in International Business

Corporate Governance, Socio-Economic Factors and Economic Growth: Theoretical Analysis

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