Effect of country governance on firm performance: the moderating role of culture
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por eng |
Título da fonte: | Revista Catarinense da Ciência Contábil (Online) |
Texto Completo: | https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362 |
Resumo: | This study examines the effect of country-level governance quality, moderated by culture, on firm performance. The sample included data from 2,511 publicly-traded companies from nine countries from 2009 to 2018, totaling 15,981 firm-year observations. The data to estimate firm performance were collected from the Refinitiv database, while metrics for country governance and cultural dimensions were obtained from the World Bank and Hofstede Insights, respectively. Multiple linear regression models were used to analyze the relationship between country-level governance indicators and firm performance, including the moderating role of culture. The main results showed that governance indicators have a positive and statistically significant relationship with the performance of the analyzed firms. In most of the estimated models, culture has shown to have a positive moderating effect on the relationship between country governance and performance. This research provides evidence that the governance environment in which firms operate influences their performance, suggesting that managers’ knowledge about the specific organizational environment of regions or countries is vital in the corporate decision-making process. |
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Revista Catarinense da Ciência Contábil (Online) |
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Effect of country governance on firm performance: the moderating role of cultureEfeito da governança do país no desempenho da firma: o papel moderador da culturaGovernanceCountry-levelFirm performanceGovernançaNível nacionalDesempenho das firmasThis study examines the effect of country-level governance quality, moderated by culture, on firm performance. The sample included data from 2,511 publicly-traded companies from nine countries from 2009 to 2018, totaling 15,981 firm-year observations. The data to estimate firm performance were collected from the Refinitiv database, while metrics for country governance and cultural dimensions were obtained from the World Bank and Hofstede Insights, respectively. Multiple linear regression models were used to analyze the relationship between country-level governance indicators and firm performance, including the moderating role of culture. The main results showed that governance indicators have a positive and statistically significant relationship with the performance of the analyzed firms. In most of the estimated models, culture has shown to have a positive moderating effect on the relationship between country governance and performance. This research provides evidence that the governance environment in which firms operate influences their performance, suggesting that managers’ knowledge about the specific organizational environment of regions or countries is vital in the corporate decision-making process.O presente estudo objetiva examinar o efeito da qualidade da governança em âmbito nacional, moderada pela cultura, no desempenho das firmas. A amostra contou com dados de 2.511 empresas com ações negociadas em bolsas de valores, provenientes de nove países distintos no período de 2009 a 2018, os quais totalizaram 15.981 observações empresa-ano. Os dados para estimar o desempenho das firmas foram coletados da base Refinitiv, enquanto as métricas para a governança dos países e dimensões culturais foram obtidas do Banco Mundial e Hofstede Insights, respectivamente. Foram utilizados modelos de regressão linear múltipla para analisar a relação entre os indicadores de governança em nível nacional e o desempenho da firma, incluindo o efeito moderador da cultura. Os principais resultados mostraram que os indicadores de governança mantêm relação positiva e estatisticamente significativa com a performance das firmas analisadas. Em grande parte dos modelos estimados, a cultura demonstrou exercer efeito moderador positivo na relação governança dos países e desempenho. Esta pesquisa fornece evidências de que o ambiente de governança no qual as firmas estão inseridas influencia o seu desempenho, sugerindo que o conhecimento por parte dos gestores a respeito do ambiente organizacional específico de regiões ou países é importante no processo de decisões corporativas.Conselho Regional de Contabilidade de Santa Catarina2023-06-02info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfapplication/ziptext/xmlhttps://revista.crcsc.org.br/index.php/CRCSC/article/view/336210.16930/2237-766220233362Revista Catarinense da Ciência Contábil; Vol. 22 (2023): RCCC; e3362Revista Catarinense da Ciência Contábil; v. 22 (2023): RCCC; e33622237-76621808-378110.16930/2237-76622023reponame:Revista Catarinense da Ciência Contábil (Online)instname:Conselho Regional de Contabilidade de Santa Catarina (CRCSC)instacron:CRCSCporenghttps://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/2534https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/2535https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/2536https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/253310.16930/2237-766220233362110.16930/2237-7662202333622Copyright (c) 2023 Revista Catarinense da Ciência Contábilhttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessBorges Junior, Dermeval MartinsPereira Junior, AloisioCarvalho, Luciana2023-12-08T12:03:20Zoai:ojs.pkp.sfu.ca:article/3362Revistahttp://www.atena.org.br/revista/ojs-2.2.3-06/index.php/crcscPRIhttp://revista.crcsc.org.br/revista/ojs-2.2.3-06/index.php/CRCSC/oai||revista@crcsc.org.br2237-76621808-3781opendoar:2023-12-08T12:03:20Revista Catarinense da Ciência Contábil (Online) - Conselho Regional de Contabilidade de Santa Catarina (CRCSC)false |
dc.title.none.fl_str_mv |
Effect of country governance on firm performance: the moderating role of culture Efeito da governança do país no desempenho da firma: o papel moderador da cultura |
title |
Effect of country governance on firm performance: the moderating role of culture |
spellingShingle |
Effect of country governance on firm performance: the moderating role of culture Borges Junior, Dermeval Martins Governance Country-level Firm performance Governança Nível nacional Desempenho das firmas |
title_short |
Effect of country governance on firm performance: the moderating role of culture |
title_full |
Effect of country governance on firm performance: the moderating role of culture |
title_fullStr |
Effect of country governance on firm performance: the moderating role of culture |
title_full_unstemmed |
Effect of country governance on firm performance: the moderating role of culture |
title_sort |
Effect of country governance on firm performance: the moderating role of culture |
author |
Borges Junior, Dermeval Martins |
author_facet |
Borges Junior, Dermeval Martins Pereira Junior, Aloisio Carvalho, Luciana |
author_role |
author |
author2 |
Pereira Junior, Aloisio Carvalho, Luciana |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Borges Junior, Dermeval Martins Pereira Junior, Aloisio Carvalho, Luciana |
dc.subject.por.fl_str_mv |
Governance Country-level Firm performance Governança Nível nacional Desempenho das firmas |
topic |
Governance Country-level Firm performance Governança Nível nacional Desempenho das firmas |
description |
This study examines the effect of country-level governance quality, moderated by culture, on firm performance. The sample included data from 2,511 publicly-traded companies from nine countries from 2009 to 2018, totaling 15,981 firm-year observations. The data to estimate firm performance were collected from the Refinitiv database, while metrics for country governance and cultural dimensions were obtained from the World Bank and Hofstede Insights, respectively. Multiple linear regression models were used to analyze the relationship between country-level governance indicators and firm performance, including the moderating role of culture. The main results showed that governance indicators have a positive and statistically significant relationship with the performance of the analyzed firms. In most of the estimated models, culture has shown to have a positive moderating effect on the relationship between country governance and performance. This research provides evidence that the governance environment in which firms operate influences their performance, suggesting that managers’ knowledge about the specific organizational environment of regions or countries is vital in the corporate decision-making process. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-06-02 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362 10.16930/2237-766220233362 |
url |
https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362 |
identifier_str_mv |
10.16930/2237-766220233362 |
dc.language.iso.fl_str_mv |
por eng |
language |
por eng |
dc.relation.none.fl_str_mv |
https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/2534 https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/2535 https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/2536 https://revista.crcsc.org.br/index.php/CRCSC/article/view/3362/2533 10.16930/2237-7662202333621 10.16930/2237-7662202333622 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2023 Revista Catarinense da Ciência Contábil https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2023 Revista Catarinense da Ciência Contábil https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf application/zip text/xml |
dc.publisher.none.fl_str_mv |
Conselho Regional de Contabilidade de Santa Catarina |
publisher.none.fl_str_mv |
Conselho Regional de Contabilidade de Santa Catarina |
dc.source.none.fl_str_mv |
Revista Catarinense da Ciência Contábil; Vol. 22 (2023): RCCC; e3362 Revista Catarinense da Ciência Contábil; v. 22 (2023): RCCC; e3362 2237-7662 1808-3781 10.16930/2237-76622023 reponame:Revista Catarinense da Ciência Contábil (Online) instname:Conselho Regional de Contabilidade de Santa Catarina (CRCSC) instacron:CRCSC |
instname_str |
Conselho Regional de Contabilidade de Santa Catarina (CRCSC) |
instacron_str |
CRCSC |
institution |
CRCSC |
reponame_str |
Revista Catarinense da Ciência Contábil (Online) |
collection |
Revista Catarinense da Ciência Contábil (Online) |
repository.name.fl_str_mv |
Revista Catarinense da Ciência Contábil (Online) - Conselho Regional de Contabilidade de Santa Catarina (CRCSC) |
repository.mail.fl_str_mv |
||revista@crcsc.org.br |
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