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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Does Trading Activity Have A Cultural Dimension? |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 70 |
| Date | 2016 |
| Abstract Text | This thesis examines empirically whether stock market trading activity has a cultural dimension by using panel data on more than 40 countries during the most recent 13-year-period (2002-2014). Culture is captured by Hofstede’s five cultural indices: Power distance, individualism, uncertainty avoidance, masculinity, and long term orientation. Several hypotheses are formulated, demonstrating that culture can plausibly exert influence on market trading activity through multiple channels. Using original and updated cultural datasets and after controlling for a set of potential drivers of market trading activity, robust evidence is found that culture does matter for market trading activity. In particular, power distance, individualism and long term orientation are significant dimensions in explaining the different levels of market trading activity worldwide. |
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