Culture, Corporate Governance and Bank Risk-taking
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2021-07-07
Language
en
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Abstract
This thesis analyses the relationship between culture, corporate governance and bank-risk taking. I use a mediation analysis with multilevel data and a dataset containing 168 banks from 28 countries. Two proxies for risk-taking are used: standard deviation of return on assets and the z-score. For the standard deviation of return on assets, individualism has a negative effect, while uncertainty avoidance and power distance are positive, but no mediation effect could be found. For the z-score, most cultural variables are insignificant, however they only turned insignificant after the inclusion of the corporate governance proxies which points toward a mitigation effect. In conclusion it seems likely that corporate governance mediates and weakens the effect of culture.
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Faculteit der Managementwetenschappen