Do national culture and board attributes influence corporate investment decisions?

IF 5.5 Q1 BUSINESS

Corporate Governance-The International Journal of Business in Society Pub Date : 2023-01-16 DOI:10.1108/cg-01-2022-0026

B. Agyei-Mensah

引用次数: 0

Abstract

Purpose The purpose of this paper is to study the relationship between board attributes and national culture on firms’ investment decisions. Design/methodology/approach The study used data from listed firms from seven Sub-Saharan Africa countries. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which constitutes the main data analysis. Findings The multiple regression analysis results indicate a negative relationship between uncertainty avoidance (UAI) and corporate investment decisions. The study also found that there is a negative relationship between the interaction between UAI and the number of independent board members and corporate investment decisions. Originality/value This study is one of the few to measure the influence of governance variables and national culture on corporate investment decisions in Sub-Sahara Africa.

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国家文化和董事会属性会影响公司的投资决策吗?

目的研究董事会属性和民族文化对企业投资决策的影响。该研究使用了来自撒哈拉以南非洲7个国家上市公司的数据。进行描述性分析以提供所检查变量的背景统计数据。然后是回归分析，这构成了主要的数据分析。发现多元回归分析结果表明，不确定性规避与企业投资决策呈负相关。研究还发现，UAI与独立董事会成员数量和企业投资决策之间存在负相关关系。本研究是少数几个衡量治理变量和国家文化对撒哈拉以南非洲公司投资决策影响的研究之一。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Corporate Governance-The International Journal of Business in Society BUSINESS-

CiteScore

11.20

自引率

33.90%

发文量

期刊介绍： Providing a consistent source of in-depth information, analysis and advice considering corporate governance on an international scale, Corporate Governance: The International Journal of Business in Society focuses on knowledge development, practice and performance standards for scholars and Boards of Directors/ Governors of companies throughout the world. The journal publishes a diverse range of substantive theoretical and methodological debates as well as practical developments in the field of corporate governance worldwide. The journal particularly encourages attention to the impact of changes of business/corporate governance forms and practices on people, and the sustainability of different governance models. Articles that highlight models and structures that advance the interests, dignity and well being of all stakeholders, in a sustainable manner, are particularly welcome. The journal covers a broad spectrum of governance-related themes including: -Effective boardroom performance -Control and regulation -Executive leadership -The role and contribution of external (non-executive) directors -The growing importance of governance in the wake of ever-greater corporate scandals -Redefinitions and reassessments of corporate governance models -The role of business in society -The changing nature of the relationship and responsibilities of the firm towards various stakeholders -The incentives required to encourage more socially- and environmentally-responsible corporate action -The role and impact of local and international regulatory agencies and regimes on corporate behaviour.