Suchergebnisse

PurposeThis study aims to investigate the relationship between national culture and best practices as recommended in country-level corporate governance codes.Design/methodology/approachMeasures for four corporate governance variables – board independence, gender composition, board leadership and meeting frequency – were collected from corporate governance codes for 55 countries. Scores from Hofstede's cultural dimensions – power distance, individualism vs collectivism, masculinity vs femininity and uncertainty avoidance – were gathered for these same countries. Average scores on the cultural dimensions were compared for groups of countries based on each of the corporate governance variables.FindingsData analyses reveal significant relationships between Hofstede's cultural dimensions and the four characteristics of corporate governance examined in this study. Results highlight the importance of understanding cultural influences on board characteristics for companies considering international expansions or partnerships.Originality/valueWhile prior studies have focused on the influence of national culture at the company level, this study examines the relationship at the regulatory level through review of country-level corporate governance codes.