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 enhances the growing research field of Cultural Finance by analyzing the relationship between cultural value types – in particular Autonomy and Embeddedness – and the corporate debt choice of either bank or bond financing. We derive our hypotheses from a slight modification and...

We investigate investors' time preferences and takeover performance outcomes in a cross-disciplinary international study. We use a cultural measure on long-term orientation (LTO) to capture investors' time preferences. Additionally, we study how investor protection and the nature of the deal...

Despite a considerable premium on equity with respect to risk free assets, many households do not own stocks. We ask why the prevalence of stockholding is so limited. We focus on individuals' attitudes towards risk and identify relevant factors that affect the willingness to take financial...

We examine how time preferences impact the financing decision of firms. We hypothesize that the degree of long-term orientation in a country is positively related to the use of bank relationship lending. Based on a thorough theoretical investigation and an extensive empirical analysis using a...