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Research on the reflection of cultural dimensions in international business

Author

Listed:
  • Edita LeonaviÄ ienÄ—

    (Vilnius Gediminas Technical University, Lithuania)

  • Aurelija BurinskienÄ—

    (Vilnius Gediminas Technical University, Lithuania)

Abstract

The objective of this research is to reveal the reflection of cultural dimensions in international business. The management of an international business is complex and varies according to culturally determined values. To achieve success in international business, it is necessary to understand how cultural differences across and within countries affect it. Authors took under revision the international companies listed under the Nasdaq database (2021) and researched interlinks in the North-West region of Europe. The authors delivered the research in two stages. In the first stage, the authors constructed a matrix of cultural dimensions. Then formed the equation at the second step by using the Generalized Moments Method, which eliminates inaccurate assumptions. The authors used panel data analysis and constructed equations. The theoretical research results highlight the cultural dimensions identified in the 31 studies in the priority of attention. The authors' research proves that three main cultural dimensions affect the revenue of the international business. We came to the insight that the impact of culture in doing business globally is growing rapidly.

Suggested Citation

  • Edita LeonaviÄ ienÄ— & Aurelija BurinskienÄ—, 2021. "Research on the reflection of cultural dimensions in international business," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 3(4), pages 101-114, December.
    • Handle: RePEc:ssi:jouird:v:3:y:2021:i:4:p:101-114
    DOI: 10.9770/ird.2021.3.4(7)
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    References listed on IDEAS

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    1. Caputo, Andrea & Ayoko, Oluremi B. & Amoo, Nii & Menke, Charlott, 2019. "The relationship between cultural values, cultural intelligence and negotiation styles," Journal of Business Research, Elsevier, vol. 99(C), pages 23-36.
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    More about this item

    Keywords

    international business; cultural differences; dimensions;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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