Cross-Cultural Dimensions and Financial Efficiency: An Investigation at Macro Level

DOI

10.2991/aebmr.k.210210.009How to use a DOI?

Keywords

cultural dimensions, financial efficiency, multi-level linear regression

Abstract

Based on the four cultural dimensions summarized by Hofstede’s research team, this paper divides financial efficiency into direct financial efficiency and indirect financial efficiency, so as to study the influence of culture on financial efficiency and the relationship between the two. This paper finds that the correlation between different cultural dimensions and financial efficiency is significantly different. The correlation test proves that only power distance and individualism are significantly correlated with financial efficiency. Regression analysis supports that only individualism is significantly related with financial efficiency after adding three control variables, in which individualism index is negative with indirect financial efficiency, and positive with direct financial efficiency. In addition, the correlation between individualism and financial efficiency varies depending on whether the country is a developed one or not.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Zixue Zhao
PY  - 2021
DA  - 2021/02/21
TI  - Cross-Cultural Dimensions and Financial Efficiency: An Investigation at Macro Level
BT  - Proceedings of the 6th International Conference on Economics, Management, Law and Education (EMLE 2020)
PB  - Atlantis Press
SP  - 46
EP  - 53
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210210.009
DO  - 10.2991/aebmr.k.210210.009
ID  - Zhao2021
ER  -