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elections greatly affects investment. Using U.S. institutional ownership data from 1981 to 2010, we find that institutions …
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This study examines how national culture affects corporate investment. We argue that national culture affects corporate … investment efficiency through the level of secrecy that national culture exhibits. Using a sample of firms from eight culturally … investment efficiency after controlling for a number of firm- and country-level factors. We also find that the negative relation …
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