In the paper, based on Breuer and McDermott's (2011) definition for national culture, we develop a theoretical model that helps explain economical behaviors of foreign bank and show that national culture is as important as credit market conditions in determining market share of foreign banks....

This paper extends Eeckhoudt et al.’s (2012) results for precautionary effort to bivariate utility function framework. We establish an equivalence between the agent’s precautionary effort motive and the signs of successive cross-derivatives of the bivariate utility function. We show that the...