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Influence of National Culture on Bank Risk-taking in the European System

In: Risk Culture in Banking

Author

Listed:
  • Candida Bussoli

    (LUM Jean Monnet University)

Abstract

This chapter focuses on the relevance of national culture in bank risk-taking decisions. The analysis considers the European banking system and aims to study how different cultural values across countries may affect bank risk-taking. Using firm-level data from 28 EU countries and employing an OLS analysis, we show that individualism has a positive association with bank risk-taking and uncertainty avoidance has a negative association with bank risk-taking. We also find that the large dimension of banks weakens the association of culture with bank risk-taking. The empirical evidence reveals that even in the highly globalized European financial system, with uniform rules of supervision and risk management across countries and in crises times, culture matters.

Suggested Citation

  • Candida Bussoli, 2017. "Influence of National Culture on Bank Risk-taking in the European System," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Risk Culture in Banking, chapter 0, pages 215-239, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-319-57592-6_10
    DOI: 10.1007/978-3-319-57592-6_10
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