Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions

This research explores the relationship between Hofstede’s femininity cultural dimension of quality of life and the masculinity cultural dimension of drive for success manifested by materialistic wealth by investigating the market value of the publicly traded firms appearing on the Dow Jones Sustain...

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Autores principales:	Minoo Tehrani, Andreas Rathgeber, Lawrence Fulton, Bryan Schmutz
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	sustainability CSR DJSIs firm’s market value Hofstede’s cultural dimensions event study Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/7a19a6b3a050468095a923fc563d00b7
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spelling	oai:doaj.org-article:7a19a6b3a050468095a923fc563d00b72021-11-11T19:42:23ZSustainability & CSR: The Relationship with Hofstede Cultural Dimensions10.3390/su1321120522071-1050https://doaj.org/article/7a19a6b3a050468095a923fc563d00b72021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/12052https://doaj.org/toc/2071-1050This research explores the relationship between Hofstede’s femininity cultural dimension of quality of life and the masculinity cultural dimension of drive for success manifested by materialistic wealth by investigating the market value of the publicly traded firms appearing on the Dow Jones Sustainability Indices (DJSIs). The firms added to the DJSIs between the years 2010–2019 in countries with the femininity cultural dimension indicated by scores of ≤42, were selected for the first part of this study. In addition, France, with a masculinity score of 43 and Japan, with the highest masculinity score of 92, were chosen for comparison with the results from the countries with the femininity cultural dimension. The findings of this study indicate that companies in developed and emerging countries with the femininity cultural dimension show significant positive impact on their market values when added to the DJSIs. The publicly traded firms in France show a significant negative impact on their market values when added to the DJSIs. On the other hand, Japanese companies on the addition lists of DJSIs show a significant positive impact on their market values, despite Japan having the highest Hofstede masculinity score, a potential sign of cultural change in Japan.Minoo TehraniAndreas RathgeberLawrence FultonBryan SchmutzMDPI AGarticlesustainabilityCSRDJSIs firm’s market valueHofstede’s cultural dimensionsevent studyEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12052, p 12052 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	sustainability CSR DJSIs firm’s market value Hofstede’s cultural dimensions event study Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	sustainability CSR DJSIs firm’s market value Hofstede’s cultural dimensions event study Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Minoo Tehrani Andreas Rathgeber Lawrence Fulton Bryan Schmutz Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions
description	This research explores the relationship between Hofstede’s femininity cultural dimension of quality of life and the masculinity cultural dimension of drive for success manifested by materialistic wealth by investigating the market value of the publicly traded firms appearing on the Dow Jones Sustainability Indices (DJSIs). The firms added to the DJSIs between the years 2010–2019 in countries with the femininity cultural dimension indicated by scores of ≤42, were selected for the first part of this study. In addition, France, with a masculinity score of 43 and Japan, with the highest masculinity score of 92, were chosen for comparison with the results from the countries with the femininity cultural dimension. The findings of this study indicate that companies in developed and emerging countries with the femininity cultural dimension show significant positive impact on their market values when added to the DJSIs. The publicly traded firms in France show a significant negative impact on their market values when added to the DJSIs. On the other hand, Japanese companies on the addition lists of DJSIs show a significant positive impact on their market values, despite Japan having the highest Hofstede masculinity score, a potential sign of cultural change in Japan.
format	article
author	Minoo Tehrani Andreas Rathgeber Lawrence Fulton Bryan Schmutz
author_facet	Minoo Tehrani Andreas Rathgeber Lawrence Fulton Bryan Schmutz
author_sort	Minoo Tehrani
title	Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions
title_short	Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions
title_full	Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions
title_fullStr	Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions
title_full_unstemmed	Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions
title_sort	sustainability & csr: the relationship with hofstede cultural dimensions
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/7a19a6b3a050468095a923fc563d00b7
work_keys_str_mv	AT minootehrani sustainabilitycsrtherelationshipwithhofstedeculturaldimensions AT andreasrathgeber sustainabilitycsrtherelationshipwithhofstedeculturaldimensions AT lawrencefulton sustainabilitycsrtherelationshipwithhofstedeculturaldimensions AT bryanschmutz sustainabilitycsrtherelationshipwithhofstedeculturaldimensions
_version_	1718431475887505408

Sustainability & CSR: The Relationship with Hofstede Cultural Dimensions

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