Results for *

Displaying results 1 to 16 of 16.

  1. For God's sake
    the impact of religious proximity on firms' exports
    Published: May 2016
    Publisher:  Università Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali, [Ancona]

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Keine Speicherung
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Quaderni di ricerca / Università Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali ; n. 418
    Subjects: Islam; export entry; uncertainty; cultural distance
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  2. Home advantage in European international soccer
    which dimension of distance matters?
    Published: [2019]
    Publisher:  Kiel Institute for the World Economy, Kiel

    The authors investigate whether the home advantage in soccer differs by various dimensions of distance between the (regions of the) home and away teams: geographical distance, climatic differences, cultural distance, and disparities in economic... more

    Access:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 112
    No inter-library loan

     

    The authors investigate whether the home advantage in soccer differs by various dimensions of distance between the (regions of the) home and away teams: geographical distance, climatic differences, cultural distance, and disparities in economic prosperity. To this end, they analyse 2,012 recent matches played in the UEFA Champions League and UEFA Europa League. The authors find that when the home team plays at a higher altitude, they benefit substantially more from their home advantage. Every 100 meters of altitude difference is associated with an increase in expected probability to win the match, as the home team, by 1.1 percentage points.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/194871
    Series: Array ; no. 2019, 19 (March 04, 2019)
    Subjects: Soccer; home advantage; cultural distance; UEFA Champions League; UEFA Europa League
    Scope: 1 Online-Ressource (circa 22 Seiten)
  3. Personality traits, migration intentions, and cultural distance
    Published: June 2019
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper investigates the relationship between Big Five personality traits and individuals' intentions to migrate in countries that vary in their culture. Using data collected from university students in Germany, we find that extraversion and... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4
    No inter-library loan

     

    This paper investigates the relationship between Big Five personality traits and individuals' intentions to migrate in countries that vary in their culture. Using data collected from university students in Germany, we find that extraversion and openness are positively associated with migration intentions, while agreeableness, conscientiousness, and emotional stability negatively relate to migration intentions. Openness positively and extraversion negatively relate to the willingness to move to culturally distant countries after controlling for geographic distance and economic differences between countries. Using language as a cultural distance indicator provides evidence that extravert and conscientious individuals are less likely to prefer linguistically distant countries while agreeable individuals tend to consider such countries as potential destinations.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/202790
    Series: Discussion paper series / IZA ; no. 12444
    Subjects: migration intentions; destination choice; cultural distance; Big Five personality traits
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  4. Home advantage in European international soccer
    which dimension of distance matters?
    Published: 2019
    Publisher:  Global Labor Organization (GLO), Maastricht

    We investigate whether the home advantage in soccer differs by various dimensions of distance between the (regions of the) home and away teams: geographical distance, climatic differences, cultural distance, and disparities in economic prosperity. To... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 565
    No inter-library loan

     

    We investigate whether the home advantage in soccer differs by various dimensions of distance between the (regions of the) home and away teams: geographical distance, climatic differences, cultural distance, and disparities in economic prosperity. To this end, we analyse 2,012 recent matches played in the UEFA Champions League and UEFA Europa League. We find that when the home team plays at a higher altitude, they benefit substantially more from their home advantage. Every 100 meters of altitude difference is associated with an increase in expected probability to win the match, as the home team, by 1.1 percentage points.

     

    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/191758
    Series: GLO discussion paper ; no. 314
    Subjects: Soccer; home advantage; cultural distance; UEFA Champions League; UEFA Europa League
    Scope: 1 Online-Ressource (circa 22 Seiten)
  5. Expanding the measurement of culture with a sample of two billion humans
    Published: September 2020
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    Culture has played a pivotal role in human evolution. Yet, the ability of social scientists to study culture is limited by the currently available measurement instruments. Scholars of culture must regularly choose between scalable but sparse... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4
    No inter-library loan

     

    Culture has played a pivotal role in human evolution. Yet, the ability of social scientists to study culture is limited by the currently available measurement instruments. Scholars of culture must regularly choose between scalable but sparse survey-based methods or restricted but rich ethnographic methods. Here, we demonstrate that massive online social networks can advance the study of human culture by providing quantitative, scalable, and high-resolution measurement of behaviorally revealed cultural values and preferences. We employ publicly available data across nearly 60,000 topic dimensions drawn from two billion Facebook users across 225 countries and territories. We first validate that cultural distances calculated from this measurement instrument correspond to traditional survey-based and objective measures of cross-national cultural differences. We then demonstrate that this expanded measure enables rich insight into the cultural landscape globally at previously impossible resolution. We analyze the importance of national borders in shaping culture, explore unique cultural markers that identify subnational population groups, and compare subnational divisiveness to gender divisiveness across countries. The global collection of massive data on human behavior provides a high-dimensional complement to traditional cultural metrics. Further, the granularity of the measure presents enormous promise to advance scholars' understanding of additional fundamental questions in the social sciences. The measure enables detailed investigation into the geopolitical stability of countries, social cleavages within both small and large-scale human groups, the integration of migrant populations, and the disaffection of certain population groups from the political process, among myriad other potential future applications.

     

    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/227262
    Series: Discussion paper series / IZA ; no. 13735
    Subjects: culture; cultural distance; identity; regional culture; gender differences
    Scope: 1 Online-Ressource (circa 57 Seiten), Illustrationen
  6. Foreign graduates in Sweden
    the role of high tech sectors, STEM disciplines and cultural distance
    Published: [2022]
    Publisher:  Centre for Innovation Research (CIRCLE), Lund University, [Lund, Sweden]

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 648
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Papers in innovation studies ; no. 2022, 03
    Subjects: foreign graduates; STEM; cultural distance; high tech; occupations
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  7. Confucius Institute, Belt and Road Initiative, and internationalization
    Published: July 2020
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    In this paper, we study the role of Confucius Institute in supporting internationalization of Chinese enterprises. Employing a panel dataset containing 66 Belt-Road countries and 75 non Belt-Road countries from 2006 to 2017, we find that the... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Fachinformationsverbund Internationale Beziehungen und Länderkunde
    No inter-library loan
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63
    No inter-library loan
    Institut für Auslandsbeziehungen, Bibliothek
    Cb 41/50
    No inter-library loan

     

    In this paper, we study the role of Confucius Institute in supporting internationalization of Chinese enterprises. Employing a panel dataset containing 66 Belt-Road countries and 75 non Belt-Road countries from 2006 to 2017, we find that the Confucius Institute has had a positive effect on Chinese CMA in general and that this effect has become stronger in Belt-Road countries after the Belt and Road Initiative was launched in 2013. Our results suggest that the earlier the host country joins the Belt and Road Initiative, the stronger is the interactive effect of CI and Belt and Road Initiative. Moreover, we show that the Confucius Classroom, a related program, also positively affects Chinese CMA in the context of the Belt and Road Initiative. These findings are robust to controlling for endogeneity and sample selection biases.

     

    Export to reference management software   RIS file
      BibTeX file
  8. Cultural distance, firm boundaries, and global sourcing
    Published: July 2023
    Publisher:  CESifo, Munich, Germany

    Casual observation suggests that cultural differences play an important role in business transactions, yet systematic evidence on this relationship is scarce. This paper provides a novel investigation of the effect of cultural distance on... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63
    No inter-library loan

     

    Casual observation suggests that cultural differences play an important role in business transactions, yet systematic evidence on this relationship is scarce. This paper provides a novel investigation of the effect of cultural distance on multinational firms' decisions to integrate their cooperation partners into firm boundaries, rather than transact with independent companies at arm's-length. To guide our empirical analysis, we develop a simple theoretical model which suggests that (i) cultural distance between contracting parties decreases the relative attractiveness of integration, and (ii) this effect is mitigated in more productive firms. We test these predictions using extensive product-, industry-, and firm-level data. We find a robust negative relationship between cultural distance and the relative attractiveness of integration. In line with our theoretical predictions, we also find that the effect of cultural distance on firm boundaries is less pronounced the higher firm's productivity.

     

    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/279310
    Series: CESifo working papers ; 10560 (2023)
    Subjects: cultural distance; firm boundaries; international make-or-buy decision; firm productivity
    Scope: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  9. Home advantage in European international soccer
    which dimension of distance matters?
    Published: February 2019
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    We investigate whether the home advantage in soccer differs by various dimensions of distance between the (regions of the) home and away teams: geographical distance, climatic differences, cultural distance, and disparities in economic prosperity. To... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4
    No inter-library loan

     

    We investigate whether the home advantage in soccer differs by various dimensions of distance between the (regions of the) home and away teams: geographical distance, climatic differences, cultural distance, and disparities in economic prosperity. To this end, we analyse 2,012 recent matches played in the UEFA Champions League and UEFA Europa League. We find that when the home team plays at a higher altitude, they benefit substantially more from their home advantage. Every 100 meters of altitude difference is associated with an increase in expected probability to win the match, as the home team, by 1.1 percentage points.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/196641
    Series: Discussion paper series / IZA ; no. 12143
    Subjects: soccer; home advantage; cultural distance; UEFA Champions League; UEFA Europa League
    Scope: 1 Online-Ressource (circa 23 Seiten)
  10. Personality traits, migration intentions, and cultural distance
    Published: [2018]
    Publisher:  Research Centre for Education and the Labour Market, Maastricht

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 158 (2018,7)
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: ROA research memorandum / Researchcentrum voor Onderwijs en Arbeidsmarkt ; ROA-RM-2018, 7 (December 2018)
    Subjects: migration intentions; destination choice; cultural distance; Big Five personality traits
    Scope: 1 Online-Ressource (circa 30 Seiten)
  11. Personality traits, migration intentions, and cultural distance
    Published: [2018]
    Publisher:  Graduate School of Business and Economics, Maastricht

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 285 (2018,28)
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: [Research memorandum] / Maastricht University, Graduate School of Business and Economics (GSBE) ; RM/18, 028
    Subjects: migration intention; destination choice; cultural distance; Big Five personality traits
    Scope: 1 Online-Ressource (circa 29 Seiten)
  12. How Many Languages Do We Need?
    The Economics of Linguistic Diversity
    Published: 2011; ©2011.
    Publisher:  Princeton University Press, Princeton, N.J.

    Main description: In the global economy, linguistic diversity influences economic and political development as well as public policies in positive and negative ways. It leads to financial costs, communication barriers, divisions in national unity,... more

    Access:
    Verlag (lizenzpflichtig)
    Resolving-System (lizenzpflichtig)
    Staats- und Universitätsbibliothek Bremen
    No inter-library loan
    Technische Universität Chemnitz, Universitätsbibliothek
    No inter-library loan
    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
    No inter-library loan
    Zentrale Hochschulbibliothek Flensburg
    No inter-library loan
    Technische Universität Bergakademie Freiberg, Bibliothek 'Georgius Agricola'
    No inter-library loan
    Universitätsbibliothek Greifswald
    No inter-library loan
    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
    No inter-library loan
    HafenCity Universität Hamburg, Bibliothek
    No inter-library loan
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    No inter-library loan
    Hochschule für Angewandte Wissenschaften Hamburg, Hochschulinformations- und Bibliotheksservice (HIBS), Fachbibliothek Technik, Wirtschaft, Informatik
    No inter-library loan
    Technische Universität Hamburg, Universitätsbibliothek
    No inter-library loan
    Gottfried Wilhelm Leibniz Bibliothek - Niedersächsische Landesbibliothek
    No inter-library loan
    Universitätsbibliothek Hildesheim
    No inter-library loan
    Thüringer Universitäts- und Landesbibliothek
    No inter-library loan
    Hochschulbibliothek Karlsruhe (PH)
    eBook de Gruyter
    No inter-library loan
    Universitätsbibliothek Kiel, Zentralbibliothek
    No inter-library loan
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    No inter-library loan
    Universitätsbibliothek Leipzig
    No inter-library loan
    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
    No inter-library loan
    Duale Hochschule Baden-Württemberg Mannheim, Bibliothek
    eBook de Gruyter
    No inter-library loan
    Hochschule Mittweida (FH), Hochschulbibliothek
    No inter-library loan
    Bibliotheks-und Informationssystem der Carl von Ossietzky Universität Oldenburg (BIS)
    No inter-library loan
    Bibliotheks-und Informationssystem der Carl von Ossietzky Universität Oldenburg (BIS)
    No inter-library loan
    Jade Hochschule Wilhelmshaven/Oldenburg/Elsfleth, Campus Oldenburg, Bibliothek
    No inter-library loan
    Jade Hochschule Wilhelmshaven/Oldenburg/Elsfleth, Campus Elsfleth, Bibliothek
    No inter-library loan
    Universitätsbibliothek Osnabrück
    No inter-library loan
    Hochschulbibliothek Pforzheim, Bereichsbibliothek Technik und Wirtschaft
    eBook de Gruyter
    No inter-library loan
    Universitätsbibliothek der Eberhard Karls Universität
    No loan of volumes, only paper copies will be sent
    Jade Hochschule Wilhelmshaven/Oldenburg/Elsfleth, Campus Wilhelmshaven, Bibliothek
    No inter-library loan
    Hochschule Zittau / Görlitz, Hochschulbibliothek
    No inter-library loan

     

    Main description: In the global economy, linguistic diversity influences economic and political development as well as public policies in positive and negative ways. It leads to financial costs, communication barriers, divisions in national unity, and, in some extreme cases, conflicts and war--but it also produces benefits related to group and individual identity. What are the specific advantages and disadvantages of linguistic diversity and how does it influence social and economic progress? This book examines linguistic diversity as a global social phenomenon and considers what degree of linguistic variety might result in the greatest economic good. Victor Ginsburgh and Shlomo Weber look at linguistic proximity between groups and between languages. They describe and use simple economic, linguistic, and statistical tools to measure diversity's impact on growth, development, trade, the quality of institutions, translation issues, voting patterns in multinational competitions, and the likelihood and intensity of civil conflicts. They address the choosing of core languages in a multilingual community, such as the European Union, and argue that although too many official languages might harm cohesiveness, efficiency, and communication, reducing their number brings about alienation and disenfranchisement of groups. Demonstrating that the value and drawbacks of linguistic diversity are universal, How Many Languages Do We Need? suggests ways for designing appropriate linguistic policies for today's multilingual world.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
  13. Cultural diversity and cultural distance as choice determinants of migration destination
    Published: 2014
    Publisher:  Tinbergen Inst., Rotterdam [u.a.]

    This study analyses the impact of cultural composition on regional attractiveness from the perspective of migrant sorting behaviour. We use an attitudinal survey to quantify cultural distances between natives and immigrants in the area concerned, and... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 432 (2014,66)
    No inter-library loan

     

    This study analyses the impact of cultural composition on regional attractiveness from the perspective of migrant sorting behaviour. We use an attitudinal survey to quantify cultural distances between natives and immigrants in the area concerned, and estimate the migrants' varying preferences for both cultural diversity and cultural distance. To account for regional unobserved heterogeneity, our econometric analysis employs artificial instrumental variables, as developed by Bayer et al. (2004a). The main conclusions are twofold. On the one hand, cultural diversity increases regional attractiveness. On the other hand, average cultural distance greatly weakens regional attractiveness, even when the presence of network effect is controlled for.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/98877
    Series: Array ; 2014-066
    Subjects: migration; cultural diversity; cultural distance; destination choice; sorting
    Scope: Online-Ressource (39 S.), Kt.
  14. Immigration, cultural distance and natives' attitudes towards immigrants
    evidence from Swiss voting results
    Published: 2014
    Publisher:  IZA, Bonn

    We combine community-level outcomes of 27 votes about immigration issues in Switzerland with census data to estimate the effect of immigration on natives' attitudes towards immigration. We apply an instrumental variable approach to take potentially... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 4 (8409)
    No inter-library loan

     

    We combine community-level outcomes of 27 votes about immigration issues in Switzerland with census data to estimate the effect of immigration on natives' attitudes towards immigration. We apply an instrumental variable approach to take potentially endogenous locational choices into account, and we categorize immigrants into two groups according to the cultural values and beliefs of their source country to understand how the cultural distance between natives and immigrants affects this relationship. We find that the share of culturally different immigrants is a significant and sizable determinant of anti-immigration votes, while the presence of culturally similar immigrants does not affect natives' voting behavior at all in most specifications. The cultural distance between immigrant and native residents thus appears crucial in explaining the causal effect of immigration on natives' attitudes towards immigration, and we argue that the differential impact is mainly driven by natives' concerns about compositional amenities. We finally show that the elasticity of the share of right-wing votes in favor of the Swiss People's Party is much more elastic with respect to the share of culturally different immigrants than natives' attitudes themselves, suggesting that the party has disproportionally gained from changes in attitudes caused by immigrant inflows.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/101819
    Series: Discussion paper series / Forschungsinstitut zur Zukunft der Arbeit ; 8409
    Subjects: Einwanderung; Migranten; Kulturelle Identität; Meinung; Wahlverhalten; Referendum; Migrationspolitik; Schweiz; immigration; attitudes towards immigration; voting behavior; cultural values and beliefs; cultural distance; endogenous residential choice; instrumental variable; rightwing votes
    Scope: Online-Ressource (51 S.), graph. Darst., Kt.
  15. The home bias in sovereign ratings
    Published: 20 December 2013
    Publisher:  Univ., Dep. of Economics, Heidelberg ; Universitätsbibliothek der Universität Heidelberg

    Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect... more

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 532 (552)
    No inter-library loan

     

    Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect rating decisions as a result of political economy influences and culture. Using data from nine agencies based in six countries, we investigate empirically if there is systematic evidence for a home bias in sovereign ratings. Specifically, we use dyadic panel data to test whether, all else being equal, agencies assign better ratings to their home countries, as well as to countries economically, politically and culturally aligned with them. While most of the variation in ratings is explained by the fundamentals of rated countries, our results provide empirical support for the existence of a home bias in sovereign ratings. We find that the bias becomes more accentuated following the onset of the Global Financial Crisis and appears to be driven by economic and cultural ties, not geopolitics.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/127369
    Edition: This version: 20 December 2013
    Series: Discussion paper series / University of Heidelberg, Department of Economics ; no. 552
    Subjects: Sovereign debt ratings; credit rating agencies; home bias; international finance; cultural distance; bank exposure
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  16. The home bias in sovereign ratings
    conference paper
    Published: 20 December 2013
    Publisher:  ZBW, [Kiel

    Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect... more

    HeiBIB - Die Heidelberger Universitätsbibliographie
    No inter-library loan
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DSM 13
    No inter-library loan

     

    Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect rating decisions as a result of political economy influences and culture. Using data from nine agencies based in six countries, we investigate empirically if there is systematic evidence for a home bias in sovereign ratings. Specifically, we use dyadic panel data to test whether, all else being equal, agencies assign better ratings to their home countries, as well as to countries economically, politically and culturally aligned with them. While most of the variation in ratings is explained by the fundamentals of rated countries, our results provide empirical support for the existence of a home bias in sovereign ratings. We find that the bias becomes more accentuated following the onset of the Global Financial Crisis and appears to be driven by economic and cultural ties, not geopolitics.

     

    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Language: English
    Media type: Conference proceedings
    Format: Online
    Other identifier:
    hdl: 10419/127369
    Edition: This version: 20 December 2013
    Corporations / Congresses: Evidenzbasierte Wirtschaftspolitik (2014)
    Series: Array ; V3
    Discussion paper series / University of Heidelberg, Department of Economics ; no. 552
    Subjects: Sovereign debt ratings; credit rating agencies; home bias; international finance; cultural distance; bank exposure
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen