National Cultural Dimensions in Finance and Accounting Scholarship: An Important Gap in the Literatures?

31 Pages Posted: 25 Feb 2016

See all articles by Raj Aggarwal

Raj Aggarwal

University of Akron; Federal Reserve Banks - Federal Reserve Bank of Cleveland; Kent State University; Kent State University Foundation

John W. Goodell

University of Akron - Department of Finance, College of Business Administration

Date Written: February 24, 2016

Abstract

There have been relatively few studies in finance and accounting that include the use of cultural dimensions. We conclude that both the accounting and finance fields make sparse use of cultural dimensions in scholarship. However, the field of accounting has made greater use of cultural dimensions than the field of finance. We note that this is in part due to particular seminal theories regarding the connection of national culture with the behavior of individuals in accounting. Finance, on the other hand, has been more focused on effects of larger market aggregates. Finance just recently seems to have discovered the impact of national culture, particularly via the impact of individualism on market momentum and the impact of uncertainty avoidance on transactions costs. We conclude that the field of finance is being well served by the Journal of Behavioral and Experimental Finance championing research on cultural finance.

Suggested Citation

Aggarwal, Raj and Goodell, John W., National Cultural Dimensions in Finance and Accounting Scholarship: An Important Gap in the Literatures? (February 24, 2016). Available at SSRN: https://ssrn.com/abstract=2737411 or http://dx.doi.org/10.2139/ssrn.2737411

Raj Aggarwal

University of Akron ( email )

Akron, OH 44325-4803
United States

Federal Reserve Banks - Federal Reserve Bank of Cleveland ( email )

East 6th & Superior
Cleveland, OH 44101-1387
United States

Kent State University ( email )

College of Business Administration
Kent, OH 44242-0001
United States

Kent State University Foundation ( email )

Akron, OH 44325-4803
United States

John W. Goodell (Contact Author)

University of Akron - Department of Finance, College of Business Administration ( email )

259 S. Broadway
Akron, OH 44325
United States

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