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...

We provide evidence that culture is a source of pricing bias. In a sample of 1.9 million auction transactions in 49 countries, paintings by female artists sell at an unconditional discount of 42.1%. The gender discount increases with measures of country-level gender inequality — even in artist...

Thought leadership in academic finance is more unequal than in other fields. Using data on the top 2% of scientists across all fields from Ioannidis et al. (2019, 2020), we show that the set of top scientists in finance is less diverse in terms of gender and geography than in economics and other...

This study presents evidence about relations between national culture and social institutions. We operationalize culture with data on cultural dimensions for some 50 nations adopted from cross-cultural psychology and generate testable hypotheses about three basic social norms of governance: the...