The US Individualism–Collectivism and Labor Investment Efficiency

IF 4.6 3区管理学 Q1 BUSINESS

Corporate Governance-An International Review Pub Date : 2024-12-17 DOI:10.1111/corg.12629

Rajib Chowdhury, Douglas Cumming, Anjee Gorkhali

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引用次数: 0

Abstract

Research Question/Issue

We examine whether the variation in the ndividualism–collectivism dimension within the US affects labor investment efficiency.

Research Findings/Insights

Using the collectivism index developed by existing literature, we find that firms headquartered in collectivist states are more likely to deviate from the optimal level of hiring. The effect is stronger in firms with high agency problems and information asymmetry. Additional analyses suggest that collectivism induces more inefficiency in firms with larger boards, less independent boards, firms with high R&D intensity, and states that adopt antitakeover laws.

Theoretical/Academic Implications

Overall, we find convincing evidence that cultural differences across US states contribute to labor investment decisions.

Practitioner/Policy Implications

The study extends the existing literature on the effect of cultural dimensions on labor investment decisions, particularly in the context of the United States. It also extends our understanding of how cultural variations across headquarters states can adversely affect firm hiring and firing decisions.

Jel Classification

M14, G30, G34, G40

查看原文本刊更多论文

美国个人主义-集体主义与劳动投资效率

研究问题/议题我们研究美国个人主义-集体主义维度的差异是否影响劳动投资效率。利用现有文献开发的集体主义指数，我们发现总部设在集体主义国家的公司更有可能偏离最优招聘水平。在代理问题严重和信息不对称的企业中，这种效应更强。其他分析表明，集体主义在董事会规模较大、董事会独立性较低、研发强度较高的公司以及采用反收购法律的国家会导致效率低下。总体而言，我们发现了令人信服的证据，表明美国各州的文化差异有助于劳动力投资决策。从业者/政策影响本研究扩展了现有文献关于文化维度对劳动力投资决策的影响，特别是在美国的背景下。它还扩展了我们对总部各州文化差异如何对公司招聘和解雇决策产生不利影响的理解。凝胶分类M14， G30, G34, G40

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来源期刊

Corporate Governance-An International Review Multiple-

CiteScore

7.00

自引率

11.30%

发文量

期刊介绍： The mission of Corporate Governance: An International Review is to publish cutting-edge international business research on the phenomena of comparative corporate governance throughout the global economy. Our ultimate goal is a rigorous and relevant global theory of corporate governance. We define corporate governance broadly as the exercise of power over corporate entities so as to increase the value provided to the organization"s various stakeholders, as well as making those stakeholders accountable for acting responsibly with regard to the protection, generation, and distribution of wealth invested in the firm. Because of this broad conceptualization, a wide variety of academic disciplines can contribute to our understanding.