This research enters new ground by presenting comparative survey evidence on asset managers' views and behavior in the United States, Germany, Japan and Thailand. Relying on Hofstede's four cultural dimensions, we find that cultural differences are most helpful in under... View more
4 Further recent examples of incorporating culture into economic and financial research are provided, for example, by Grinblatt and Keloharju (2001), Frederking (2002), or Stulz and Williamson (2003).
Chari, V., Kehoe, P.J., 2003. Hot money. Journal of Political Economy 111, 1262- 1292.
Chevalier, J.A., Ellison, G., 1999. Career concerns of mutual fund managers. Quarterly Journal of Economics 114, 389-432.
Chui, A.C.W., Titman, S., Wei, K.C.J., 2005. Individualism and momentum around the world. AFA 2006 Boston Meetings Paper. t
Dake, K., 1991. Orienting dispositions in the perception of risk: An analysis of pconi temporary worldviews and cultural biases. Journal of Cross-Culrtural Psychology 22, 61-82. c s
Dohmen, T., Falk, A., Huffmann, D., Sunde, U., Schrupp, J., Wagner, G.G., 2005. Individual risk attitudes: New evidence from a large, representative, experimentally-validated survey. IZA Discussion Paper uNo. 1730, Bonn.
Douglas, M., Wildavsky, A., 1982. Risk and Culture: An Enssay on the Selection of Technological and Environmental Dangers. aBerkeley CA: University of California Press.
Eckel, C.C., Grossman, P.J., 2005. Forecasting Mriskattitudes: An experimental study of actual and forecast risk attitudes of women and men. Working Paper, Presented at Europäisches FordumAlpbach. e
Fama, E.F., 1970. Efficient capital markets: A review of theory and empirical work. Journal of Finance 25, 38t3-417.
Frederking, L.C., 2002. Is therpean endogenous relationship between culture and 48, 105-126. e economic development? Journal of Economic Behavior and Organization