This paper jointly analyzes a behavioral and a cultural concept to explain household debt portfolio choice. The behavioral approach explores the role of time preferences on household debt maturity in a theoretical model and a numerical analysis. We derive a positive relationship between the...

We empirically compare the consistency among several measures of risk-taking and patience by evaluating how these variables relate to financial decisions. The variables are based on a sample of more than 700 individuals across 9 countries. The main finding is that self-reported, simple questions...

This study extends the current state of research on corporate governance and firm value determinants by introducing culture as a proxy for risk aversion. We focus on individuals' risk aversion and connect it to Hofstede's cultural dimensions of uncertainty avoidance. In a cross-country empirical...

In a series of cross-country comparisons, we show that national culture is statistically significant in differentiating countries with different corporate governance systems. Using the Schwartz cultural value model and data on corporate governance systems, we analyze the impact of national...

For a sample of 25,749 international firm-year observations, we evaluate the relationship between shareholders’ time orientation, firms’ corporate social responsibility, and cost of equity capital. We show that patient institutional investors monitor the CSR strategy of the firms they are...

This study extends the current state of research on venture capital (VC) determinants by in-troducing a behavioral perspective. We focus on individuals' risk perception and connect it to Hofstede's cultural dimensions of individualism and uncertainty avoidance. Individualism is related to...