Eun, Cheol S.; Wang, Lingling; Xiao, Steven C. - In: Journal of Financial Economics 115 (2015) 2, pp. 283-303
tight (loose) and collectivistic (individualistic) countries. Culture influences stock price synchronicity by affecting … financial openness weakens the effect of domestic culture on stock price comovements. These results hold for various robustness … checks. Our study suggests that culture is an important omitted variable in the literature that investigates cross …