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Confucian culture, financial geographic distance, and business management strategy

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  • Qi, Xiaowen

Abstract

This paper empirically investigates the relationship between Confucian culture, financial geographic distance, and corporate business strategy based on data from China's A-share listed companies from 2008 to 2023. The study finds that: first, the stronger the regional Confucian culture, the more conservative the corporate business strategy; second, the closer the financial geographic distance, the more aggressive the corporate strategic decision-making; third, financial geographic distance has a significant moderating effect on the relationship between regional Confucian culture and corporate business strategy; fourth, the moderating effect of financial geographic distance on the impact of regional Confucian culture on corporate business strategy exhibits heterogeneity across companies of different sizes. This paper expands the theoretical boundaries of the influence of Confucian culture and financial geography on corporate strategic behavior and provides empirical evidence for optimizing corporate governance and resource allocation.

Suggested Citation

  • Qi, Xiaowen, 2025. "Confucian culture, financial geographic distance, and business management strategy," Finance Research Letters, Elsevier, vol. 86(PC).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pc:s1544612325018379
    DOI: 10.1016/j.frl.2025.108583
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