Academic Journal
Does Confucianism Influence Business Strategy?
| Title: | Does Confucianism Influence Business Strategy? |
|---|---|
| Authors: | Wang, Maochuan1 (AUTHOR), Xu, Xixiong1 (AUTHOR), Zhan, Heng2 (AUTHOR) 20142702028@cqu.edu.cn |
| Source: | Emerging Markets Finance & Trade. 2024, Vol. 60 Issue 2, p245-262. 18p. |
| Abstract: | This study examines the effect of Confucianism, an influential cultural belief and ethical philosophy in East Asia, on business strategy. Employing a large-scale archival dataset of Chinese public firms covering 2007 to 2020, we provide evidence that Confucianism is positively associated with analytical-oriented strategies. Our empirical findings remain intact after accounting for alternative Confucianism measures, controlling formal institutions and religions, instrumental variable methods, and other approaches to addressing endogeneity and robustness issues. Cross-sectional analyses further reveal that the documented effect is more evident for non-state-owned firms, firms with executives lacking overseas experience, and those operating in higher economic policy uncertainty. Overall, our study sheds light on how traditional culture, an important dimension of informal institutions, shapes corporate strategic decisions in emerging markets. [ABSTRACT FROM AUTHOR] |
| Subject Terms: | *Business planning, *Economic policy, *Emerging markets, *Consumer ethics, Confucianism, Economic uncertainty |
| Geographic Terms: | East Asia, China |
| Copyright of Emerging Markets Finance & Trade is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| ISSN: | 1540496X |
| DOI: | 10.1080/1540496X.2023.2218516 |
| Database: | Business Source Complete |
| Full text is not displayed to guests. | Login for full access. |