The impact of national culture on cost of equity capital in cross-listed firms

Kathy F Otero, University of Texas at El Paso

Abstract

This study examines the GLOBE cultural dimensions of institutional collectivism, in-group collectivism, uncertainty avoidance, and power distance to evaluate the impact of national culture on cost of equity capital for firms cross-listing on two stock exchanges. In addition to evaluating the direct effect of culture on cost of equity capital, the study examines the moderating effect of national culture on impact of the political/regulatory environment and disclosure on cost of equity capital. Limited support was found for both the direct effect and the moderating effect of national culture on cost of equity capital.^

Subject Area

Business Administration, Accounting|Economics, Finance

Recommended Citation

Otero, Kathy F, "The impact of national culture on cost of equity capital in cross-listed firms" (2012). ETD Collection for University of Texas, El Paso. AAI3525788.
http://digitalcommons.utep.edu/dissertations/AAI3525788

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