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The impact of national culture on corporate diversification

Author

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  • Ryan Savitz
  • Joshua Shackman
  • Stephen P. Fitzgerald

Abstract

In this paper, we examine the relationship between national culture and corporate diversification using a sample of 840 firms in 28 countries. The results of our analysis show that the cultural dimensions of power distance, collectivism, and uncertainty avoidance each have a positive and significant impact on corporate diversification. We find no significant impact of cultural masculinity on diversification. Our results provide evidence that cultural aversion to risk may help explain differences in corporate diversification between countries.

Suggested Citation

  • Ryan Savitz & Joshua Shackman & Stephen P. Fitzgerald, 2016. "The impact of national culture on corporate diversification," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 17(2), pages 243-262.
    • Handle: RePEc:ids:ijbglo:v:17:y:2016:i:2:p:243-262
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    Cited by:

    1. Boubakri, Narjess & Mirzaei, Ali & Samet, Anis, 2017. "National culture and bank performance: Evidence from the recent financial crisis," Journal of Financial Stability, Elsevier, vol. 29(C), pages 36-56.
    2. Pinar Sener & Fatma Didin Sonmez & Elvin Tigrel, 2022. "The impact of economic policy uncertainty on corporate diversification: evidence from Latin american emerging economies," Economics Bulletin, AccessEcon, vol. 42(2), pages 1110-1123.

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