The impact of culture on finance

Lee Pinkowitz and Rohan Williamson

Chapter 13 in Research Handbook on Alternative Finance, 2024, pp 303-324 from Edward Elgar Publishing

Abstract: In this chapter, we discuss the importance of culture in finance through its influence on country outcomes, investment decisions and firm outcomes around the world. We first discuss how culture can impact finance through its historical influence on country development and investor protection. We then examine the literature on the relation between culture proxies (such as religion and language) and the protection of investor rights. Culture has been measured in various ways across, as well as within, countries that show its importance for financial decisions, development and outcomes which is challenging in determining its true importance. Finally, we analyze the effect of culture in the finance literature to date and present potential future work for expanding the understanding of culture’s influence on finance.

Keywords: Asian Studies; Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781800370494.00023 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:19941_13

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().