Over the past ten years the concept of regional clustering has gained much popularity in business, government, and the academic world. In regional economics, much attention has been devoted to explain the economic success of certain regions all around the world. Theoretical concepts like...

In this paper we study the cultural aspects of the ‘Europe of the regions’. We try to explain value differences in European regions. In explaining value differences between regions we build on Inglehart, who has described and empirically analysed the relationship between cultural values and...

In this paper we develop a model of growth and social capital, and test it using data from the European Value Survey (EVS). Following Putnam’s distinction between bonding and bridging social capital, we model social capital as participation in two types of social networks: first, closed...

In the literature factors like entrepreneurial ability, regional innovative potential, and entrepreneurial human capital are emphasized in explaining the economic success of regions. Using the European Values Studies (EVS) dataset on norms and values in 54 European regions, we distinguish values...

Research on how multinational firms deal with home–host cultural differences argues that cultural differences are minimized and assumes that foreign cultures are homogenous. In this paper we relax the cultural homogeneity assumption. In the presence of cultural variation in host countries the...

In this study we discuss and empirically test the assertion that over the last two decades multinational enterprises' (MNEs') configuration of value-adding activities has shifted from a sparse and simple (host-home) international division of labor among the foreign affiliates to a more...

This paper examines the foreign bias in international asset allocation. Following extant literature in behavioral finance, we argue that a society's culture and the cultural distance between two markets play an important role in explaining the foreign bias. In particular, we hypothesize that the...

This paper investigates the relationship between entrepreneurial culture and the rate of nascent entrepreneurship. Embedded in trait research, we develop a new composite measure of entrepreneurial culture using data from the World Values Survey. To corroborate the results obtained when...