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We present evidence on the way personal and institutional factors could together guide public company directors in decision-making concerning shareholders and stakeholders. In a sample comprising more than nine hundred directors originating from over fifty countries and serving in firms from...
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(proxied by individual values) interacts with the stickiest formal institutions in development, which leads to a very special …-togetherness" of values and institutions. Besides establishing that both values and sticky formal institutions are strong determinants … of long-run income, I find that the "stuck-togetherness" of values and institutions acts as a separate factor in …
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Using the 41-year division of Germany as a natural experiment, we show that the GDR's gender-equal institutions created …
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