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What is Hofstede's Cultural Dimensions Theory

Handbook of Research on Global Business Opportunities
Pioneering framework to describe and quantify a society’s culture. Developed as a result of a world-wide survey of employee values by IBM in the 1960s and 1970s. The original theory contained four dimensions along which cultural values could be evaluated: Individualism versus Collectivism, Uncertainty Avoidance; Power Distance, and Masculinity versus Femininity. Later on, the dimensions Long-term Orientation and Indulgence versus Restraint were added.
Published in Chapter:
Bank vs. Bond Finance: A Cultural View of Corporate Debt Financing
Wolfgang Breuer (RWTH Aachen University, Germany), Benjamin Quinten (RWTH Aachen University, Germany), and Astrid J. Salzmann (RWTH Aachen University, Germany)
Copyright: © 2015 |Pages: 27
DOI: 10.4018/978-1-4666-6551-4.ch014
This chapter enhances the growing research field of Cultural Finance by analyzing the relationship between cultural value types—in particular, Autonomy and Embeddedness—and the corporate debt choice of either bank or bond financing. The authors derive their hypotheses from a slight modification and re-interpretation of the Chemmanur and Fulghieri (1994) approach of “relationship lending.” Referring to the importance of specific human capital investments and individuals' future orientation, they show that firms in autonomy cultures tend toward bank finance, whereas firms in embeddedness cultures show a preference for financing by issuing bonds. In a cross-country analysis with 71 countries, the authors find empirical evidence for their established hypotheses.
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The Relationship Between Culture and Human Development: An Analysis Through the Lens of Innovation and Corruption
Is a framework for cross-cultural communication that describes the effects of a society’s culture on the values of its members. Hofstede's model is based on six different dimensions: power-distance index, individualism-collectivism, masculinity-femininity, uncertainty avoidance, long-term orientation versus short-term normative orientation, and indulgence versus restraint.
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