In this project, I plan to utilize country-based culture proxies and explore how the cultural distancebetween the company and its CEO would affect the financial decisions including investment policy,dividend policy, earnings management, cash holding, etc. I focus on improving the measurement ofindividual culture identity from existing finance literature which relies on merely nationality byexamining the CEO’s lifetime cultural exposure. I will track the personal history of the S&P500 CEOsand identify the country the CEO lived in his/her childhood, late adolescence, and the latest work.Using these different proxies for CEO’s cultural identity, I am able to answer which part of the life timecultural exposure is most relevant to business decision. Findings from this project not only contribute tothe growing literature on cultural corporate finance but also help us to understand how individual formhis/her cultural identity which is important to both practitioners and academics in sociology, psychology,economics, management, and many other disciplines.
|Effective start/end date||1/08/17 → 31/07/18|
UN Sustainable Development Goals
In 2015, UN member states agreed to 17 global Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. This project contributes towards the following SDG(s):
- Cultural identity
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