Ferretti, Riccardo; Pattitoni, Pierpaolo; Pedrazzoli, … - In: Journal of multinational financial management 75 (2024), pp. 1-16
We examine the impact of cultural differences on nominal share prices across 63 countries from 2002 to 2018. Using … institutional and catering theories, we assess how cultural dimensions—including World Governance Indicators (WGI), legal systems … tend to attract institutional investors. Conversely, cultural traits emphasizing altruistic values correspond with lower …