Theoretical models of trade (Dontoh and Ronen, 1993; Holthausen and Verrecchia, 1990; Karpoff, 1986; Kim and Verrecchia, 1997; and Varian, 1989) show that information-based trading is a consequence of four fundamental determinants: heterogeneous prior beliefs, differential interpretations, the consensus effect,...

A number of empirical studies have examined business ethics across cultures, focusing primarily on differences in ethical profiles between cultures and groups. When managers consider whether or not to develop a business relationship with those from a different culture, their decision may be...