The Interplay of Formal Institutional and Cultural Distances and the Financial Performance of Foreign Subsidiaries in Latin America

The Interplay of Formal Institutional and Cultural Distances and the Financial Performance of Foreign Subsidiaries in Latin America

We investigate how formal institutional distance (FID) moderates the cultural distance (CD) and financial performance relationships of foreign subsidiaries of firms. Following recent research, we estimate the asymmetric effects of CD by considering its size and direction towards host countries on th...

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Bibliographic Details
Main Authors: Henrique Correa da Cunha, Mohamed Amal, Svante Andersson, Dinora Eliete Floriani, Carlyle Farrell
Format: Article
Language:English
Published: MDPI AG 2023-06-01
Series:International Journal of Financial Studies
Subjects:
cultural distance
formal institutional distance
institutional environment
foreign subsidiaries
Latin America
formal institutions
Online Access:https://www.mdpi.com/2227-7072/11/2/80

Internet

https://www.mdpi.com/2227-7072/11/2/80

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