Etablierung einer evidenzbasierten Evaluationskultur für industriepolitische Fördermaßnahmen in Deutschland (EVA-KULT)
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IWH-FDI-Mikrodatenbank
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Ludwig (Interview)
Von der CIA und einem Glas Rotwein ... Prof. Dr. Udo Ludwig über die Anfänge und...
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Individualism, Human Capital Formation, and Labor Market Success
Katharina Hartinger, Sven Resnjanskij, Jens Ruhose, Simon Wiederhold
CESifo Working Paper,
Nr. 9391,
2021
Abstract
There is an ongoing debate about the economic effects of individualism. We establish that individualism leads to better educational and labor market outcomes. Using data from the largest international adult skill assessment, we identify the effects of individualism by exploiting variation between migrants at the origin country, origin language, and person level. Migrants from more individualistic cultures have higher cognitive skills and larger skill gains over time. They also invest more in their skills over the life-cycle, as they acquire more years of schooling and are more likely to participate in adult education activities. In fact, individualism is more important in explaining adult skill formation than any other cultural trait that has been emphasized in previous literature. In the labor market, more individualistic migrants earn higher wages and are less often unemployed. We show that our results cannot be explained by selective migration or omitted origin-country variables.
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National Culture and Housing Credit
Chrysovalantis Gaganis, Iftekhar Hasan, Fotios Pasiouras
Journal of Empirical Finance,
March
2020
Abstract
Using a sample of around 30 countries over the period 2001–2015, this study provides evidence that deeply rooted cultural differences are significantly associated with the use of mortgage debt. More detailed, we find that power distance and uncertainty avoidance have a negative impact on the value of the total outstanding residential loans to GDP. This finding is robust across various specifications and the use of alternative measures of mortgage debt. In contrast, trust has a positive and robust impact on all the measures of mortgage debt. Other dimensions of national culture like long-term orientation, individualism, and indulgence, also appear to matter; however, their impact depends on the control variables and the employed measure of mortgage debt.
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12.02.2020 • 2/2020
Ursachen von Populismus: IWH beginnt internationales Forschungsprojekt
Hat das Erstarken von populistischen Parteien ökonomische Ursachen? Diese brisante Frage untersucht das Leibniz-Institut für Wirtschaftsforschung Halle (IWH) ab sofort federführend zusammen mit Forschenden aus England, Schottland und Tschechien. Die VolkswagenStiftung fördert das interdisziplinäre Projekt für vier Jahre mit knapp einer Million Euro.
Steffen Müller
Pressemitteilung lesen
National Culture and Risk-taking: Evidence from the Insurance Industry
Chrysovalantis Gaganis, Iftekhar Hasan, Panagiota Papadimitri, Menelaos Tasiou
Journal of Business Research,
April
2019
Abstract
The gravity of insurance within the financial sector is constantly increasing. Reasonably, after the events of the recent financial turmoil, the domain of research that examines the factors driving the risk-taking of this industry has been signified. The purpose of the present study is to investigate the interplay between national culture and risk of insurance firms. We quantify the cultural overtones, measuring national culture considering the dimensions outlined by the Hofstede model and risk-taking using the ‘Z-score’. In a sample consisting of 801 life and non-life insurance firms operating across 42 countries over the period 2007–2016, we find a strong and significant relationship among insurance firms' risk-taking and cultural characteristics, such as individualism, uncertainty avoidance and power distance. Results remain robust to a variety of firm and country-specific controls, alternative measures of risk, sample specifications and tests designed to alleviate endogeneity.
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04.03.2019 • 6/2019
Neue IWH-Publikation zieht Bilanz: „Vereintes Land – drei Jahrzehnte nach dem Mauerfall“
Wie steht Deutschland 30 Jahre nach dem Fall der Berliner Mauer wirtschaftlich da? Eine neue Veröffentlichung des Leibniz-Instituts für Wirtschaftsforschung Halle (IWH) zeigt mit anschaulichen Karten und Graphiken, wie sich die Bundesrepublik im internationalen Vergleich entwickelt hat und wie es um die innere Einheit bestellt ist. Neue Befunde liefert die Publikation unter anderem zur Produktivität in Ost und West, zur Entwicklung von Stadt und Land sowie zur Fachkräftesituation.
Gerhard Heimpold
Pressemitteilung lesen
Secrecy, Information Shocks, and Corporate Investment: Evidence from European Union Countries
Mohamad Mazboudi, Iftekhar Hasan
Journal of International Financial Markets, Institutions and Money,
2018
Abstract
This study examines how national culture affects corporate investment. We argue that national culture affects corporate investment efficiency through the level of secrecy that national culture exhibits. Using a sample of firms from eight culturally-diverse European Union countries, we find that the level of secrecy that national culture exhibits is negatively related to corporate investment efficiency after controlling for a number of firm- and country-level factors. We also find that the negative relation between national culture and corporate investment efficiency is mitigated by an exogenous shock to the information asymmetry problem between managers and investors. Our study highlights the importance of the cultural value of secrecy/transparency as a determinant of investment efficiency at the firm-level.
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