This study examines whether national culture influences peer effects on dividend policies. We find robust empirical evidence suggesting that peer firms significantly influence dividend policies across countries. Moreover, such influence is salient for firms domiciled in countries with more...

Using a large sample of 17,747 firms from 44 countries, we find significant positive peer effects on corporate investment. Specifically, a firm increases its investments by 2% to 6% in response to a one standard deviation increase in peer firms' investments. Further analyses show significant...