Cultural and institutional determinants of financial ethics : an empirical investigation
We study the effect of cultural values on committing financial crime by analysing the ethnicities of litigants from data provided by the Securities Exchange Commission, which includes only the civil cases brought to Federal Court. We find a link between cultural characteristics and the likelihood...
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| Format: | Theses and Dissertations |
| Language: | English |
| Published: |
2018
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| Online Access: | http://hdl.handle.net/10356/76068 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | We study the effect of cultural values on committing financial crime by analysing the ethnicities
of litigants from data provided by the Securities Exchange Commission, which includes
only the civil cases brought to Federal Court. We find a link between cultural characteristics
and the likelihood of committing financial crime. Finance professionals originating from countries
with cultural values that rank lower on uncertainty avoidance and higher on long term
orientation and indulgence commit significantly more financial crime. Additionally, institutional
factors, economic factors and the level of financial development of finance professionals
in the country of cultural origin also affect the likelihood of committing financial crime. |
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