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The influence of national culture on venture capital activity

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi
dc.contributor.advisor Spickers, Theresa
dc.contributor.author Sarajuuri, Tea
dc.date.accessioned 2019-02-17T17:06:33Z
dc.date.available 2019-02-17T17:06:33Z
dc.date.issued 2018
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/36524
dc.description.abstract This study provides new evidence on the impact of national culture on venture capital activity. The previous literature examining the relationship between national culture and domestic VC activity is very limited. However, national culture has been found to influence economic and management behaviors (Hofstede, 1980, 2001). Therefore, it is presumable, that culture influences the two major determinants of venture capital activity; entrepreneurial activity and access to venture capital financing. I examine the effect of Hofstede’s six cultural dimensions, power distance, individualism, masculinity, uncertainty avoidance, long-term orientation and indulgence. I find that feminine culture is associated with higher level of VC activity. Consistent with Li and Zahra (2012) I also find, that uncertainty avoidance and collectivism are negatively associated with VC activity. Furthermore, I build a framework (Figure 9) through which further research could be executed by exploiting the framework and path analysis technique. fi
dc.format.extent 25 + 2
dc.format.mimetype application/pdf en
dc.language.iso fi en
dc.title The influence of national culture on venture capital activity fi
dc.title A comparative analysis of 67 countries and six cultural dimensions
dc.type G1 Kandidaatintyö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Rahoituksen laitos fi
dc.subject.keyword culture fi
dc.subject.keyword venture capital fi
dc.subject.keyword capital fi
dc.subject.keyword national fi
dc.subject.keyword cultural fi
dc.subject.keyword dimensions fi
dc.subject.keyword investment fi
dc.subject.keyword comparative fi
dc.identifier.urn URN:NBN:fi:aalto-201902171686
dc.type.ontasot Bachelor's thesis en
dc.type.ontasot Kandidaatintyö fi
dc.programme Rahoitus en

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