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Lookup NU author(s): Dr Shams PathanORCiD
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© 2017 Elsevier B.V. We examine the nature of impact of national culture on bank leverage using a broad sample of 1701 banks from 79 countries, over the period 2000–2013, i.e., 18,996 bank-year observations. We find that banks in countries with high individualism culture dimensions hold more leverage while, banks in countries with high uncertainty-avoidance, power distance, and long-term orientation have less leverage. Notably, bank size substantially moderates these cultural effects. Our findings are robust to endogeneity, and alternative proxies for the dependent and core explanatory variables.
Author(s): Haq M, Hu D, Faff R, Pathan S
Publication type: Article
Publication status: Published
Journal: Pacific Basin Finance Journal
Year: 2018
Volume: 50
Pages: 41-64
Print publication date: 01/09/2018
Online publication date: 29/09/2017
Acceptance date: 14/09/2017
ISSN (print): 0927-538X
Publisher: Elsevier BV
URL: https://doi.org/10.1016/j.pacfin.2017.09.005
DOI: 10.1016/j.pacfin.2017.09.005
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