We examine the relation between the social ties between firms' headquarters locations and co-movements between their fundamentals and stock returns. Our evidence indicates that firms in the same industry with socially connected locations exhibit co-movement in fundamentals and stock returns that...

The relationship between cultural values and economic growth has been the subject of much controversy. A few studies have shown statistical correlations between measurements of national cultural values and previous growth but this is a dubious approach to the question of whether culture is the...