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The effect of national culture on corporate policies: evidence from the U.S. corporations.

Title:

The effect of national culture on corporate policies: evidence from the U.S. corporations.

Zhang, Mingyu (2020) The effect of national culture on corporate policies: evidence from the U.S. corporations. Masters thesis, Concordia University.

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Abstract

In this paper, we use data from the U.S. multinational corporations to test the relationship between national culture and corporate policies. We find that measures of national culture-such as power distance, individualism, masculinity, uncertainty avoidance, long-term orientation, and indulgence have a significant decision-making impact on corporate policies such as the level of cash holding, leverage, and dividend payout ratio. Our results indicate that cultural differences matter and offer a fresh social perspective in explaining variations in major corporate policies.

Divisions:Concordia University > John Molson School of Business > Finance
Item Type:Thesis (Masters)
Authors:Zhang, Mingyu
Institution:Concordia University
Degree Name:M. Sc.
Program:Finance
Date:5 March 2020
Thesis Supervisor(s):Basu, Nilanjan and Newton, David
ID Code:986679
Deposited By: Mingyu Zhang
Deposited On:26 Jun 2020 13:45
Last Modified:26 Jun 2020 13:45
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