Values Versus Regulations: How Culture Plays Its Role
Journal of Business Ethics · 2008 · Volume 80 · Issue 4
DOI: 10.1007/s10551-007-9469-2
Abstract
This study examines the impact of culture on regulation and corruption. Our empirical results suggest that cultural values have significant effects on countries’ regulatory policies, levels of corruption, and economic development. Contrary to the conclusions drawn by others, this study shows no significant relationship between the regulatory policies of countries and their perceived levels of corruption. Thus, evidence of the “public choice view” toward entry regulation derived in related studies seems to be at least attenuated.
Keywords
regulation, entry, culture, economic development, corruption, time
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