Impact of Hofstede's Cultural Dimensions on Mutual Fund Performance: An Empirical Analysis Across Europe and Asia
(2024) BUSN79 20241Department of Business Administration
- Abstract
- Title: Impact of Hofstede's Cultural Dimensions on Mutual Fund Performance: An Empirical Analysis Across Europe and Asia
Seminar Date: 30 May, 2024
Course: BUSN79, Degree Project in Accounting and Finance
Authors: Rafenomanjato Alix, Thanigaivelu Abinaya
Purpose: The thesis aims to explore how Hofstede's cultural dimensions influence mutual fund performance, examining the impact of cultural traits on financial outcomes in a globalized market.
Methodology: Our paper employs multiple linear regression with quadratic terms, robust standard errors, robustness tests using a different metric than the main model, dummy variables, t-tests for group comparisons, and variance inflation factor tests.
Theoretical perspectives: The theories... (More) - Title: Impact of Hofstede's Cultural Dimensions on Mutual Fund Performance: An Empirical Analysis Across Europe and Asia
Seminar Date: 30 May, 2024
Course: BUSN79, Degree Project in Accounting and Finance
Authors: Rafenomanjato Alix, Thanigaivelu Abinaya
Purpose: The thesis aims to explore how Hofstede's cultural dimensions influence mutual fund performance, examining the impact of cultural traits on financial outcomes in a globalized market.
Methodology: Our paper employs multiple linear regression with quadratic terms, robust standard errors, robustness tests using a different metric than the main model, dummy variables, t-tests for group comparisons, and variance inflation factor tests.
Theoretical perspectives: The theories discussed in the study are Hofstede's cultural dimensions.
Empirical foundation: The sample consists of 5,768 Lipper open-end mutual funds from Europe and Asia. The study includes funds from 53 countries with Hofstede cultural dimension scores. A random sampling method was used to select funds with an issue date > 5 years without limit.
Conclusions: Individualism, low Power Distance, and high Uncertainty Avoidance positively influence mutual fund performance. Long-Term Orientation shows mixed results, sometimes detracting from short-term gains but benefiting long-term stability. Indulgence is positively associated with performance in the main model but shows a negative effect in robustness checks. Motivation Towards Achievement and Success does not significantly impact performance. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9167225
- author
- Thanigaivelu, Abinaya LU and Rafenomanjato, Alix LU
- supervisor
- organization
- course
- BUSN79 20241
- year
- 2024
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Mutual Funds, Hofstede’s cultural dimensions, Sharpe Ratio, Rolling Performance
- language
- English
- id
- 9167225
- date added to LUP
- 2024-06-23 00:20:51
- date last changed
- 2024-06-23 00:20:51
@misc{9167225, abstract = {{Title: Impact of Hofstede's Cultural Dimensions on Mutual Fund Performance: An Empirical Analysis Across Europe and Asia Seminar Date: 30 May, 2024 Course: BUSN79, Degree Project in Accounting and Finance Authors: Rafenomanjato Alix, Thanigaivelu Abinaya Purpose: The thesis aims to explore how Hofstede's cultural dimensions influence mutual fund performance, examining the impact of cultural traits on financial outcomes in a globalized market. Methodology: Our paper employs multiple linear regression with quadratic terms, robust standard errors, robustness tests using a different metric than the main model, dummy variables, t-tests for group comparisons, and variance inflation factor tests. Theoretical perspectives: The theories discussed in the study are Hofstede's cultural dimensions. Empirical foundation: The sample consists of 5,768 Lipper open-end mutual funds from Europe and Asia. The study includes funds from 53 countries with Hofstede cultural dimension scores. A random sampling method was used to select funds with an issue date > 5 years without limit. Conclusions: Individualism, low Power Distance, and high Uncertainty Avoidance positively influence mutual fund performance. Long-Term Orientation shows mixed results, sometimes detracting from short-term gains but benefiting long-term stability. Indulgence is positively associated with performance in the main model but shows a negative effect in robustness checks. Motivation Towards Achievement and Success does not significantly impact performance.}}, author = {{Thanigaivelu, Abinaya and Rafenomanjato, Alix}}, language = {{eng}}, note = {{Student Paper}}, title = {{Impact of Hofstede's Cultural Dimensions on Mutual Fund Performance: An Empirical Analysis Across Europe and Asia}}, year = {{2024}}, }