The impact of national culture on corporate diversification

Ryan Savitz, Joshua Shackman and Stephen P. Fitzgerald

International Journal of Business and Globalisation, 2016, vol. 17, issue 2, 243-262

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.

Keywords: corporate diversification; national culture; resource-based view; RBV; risk aversion; collectivism; power distance; cultural masculinity. (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbglo:v:17:y:2016:i:2:p:243-262

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