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Cultural values of parent bank board members and lending by foreign subsidiaries: The moderating role of personal traits

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  • Iftekhar Hasan

    (Fordham University, United States; Bank of Finland, Finland; and University of Sydney, Australia)

  • Krzysztof Jackowicz

    (Department of Banking, Insurance and Risk, Kozminski University, Poland)

  • Oskar Kowalewski

    (IESEG School of Management, UMR 9221 - LEM - Lille Economie Management, Lille, France Univ. Lille, UMR 9221 - LEM - Lille Economie Management, Lille, France CNRS, UMR 9221 - LEM - Lille Economie Management, Lille, France Institute of Economics, Polish Academy of Sciences, Warsaw, Poland)

  • Łukasz Kozłowski

    (Department of Banking, Insurance and Risk, Kozminski University, Poland)

Abstract

In this study, we investigate how the average cultural values of parent bank board members affect lending by foreign subsidiaries and how this influence is moderated by board members’ personal traits. Using a new dataset that includes information on foreign banks and their parent companies from 66 and 29 countries, respectively, we find that loan growth of foreign subsidiaries is faster when parent boards exhibit, on average, higher uncertainty avoidance and power distance but lower individualism and indulgence. Notably, the identified regularities are significantly moderated by gender, busyness, and firm ownership of parent bank board members.

Suggested Citation

  • Iftekhar Hasan & Krzysztof Jackowicz & Oskar Kowalewski & Łukasz Kozłowski, 2021. "Cultural values of parent bank board members and lending by foreign subsidiaries: The moderating role of personal traits," Working Papers 2021-ACF-09, IESEG School of Management.
  • Handle: RePEc:ies:wpaper:f202109
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    Keywords

    : foreign banks; lending; national culture; directors; board members; bank managers;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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