Effect of country governance on firm performance

This study examines the effect of country-level governance quality, moderated by culture, on firm performance. The sample included data from 2,511 publicly-traded companies nine countries 2009 to 2018, totaling 15,981 firm-year observations. estimate performance were collected Refinitiv database, while metrics for country and cultural dimensions obtained World Bank Hofstede Insights, respectively. Multiple linear regression models used analyze relationship between indicators performance, including moderating role culture. main results showed that have a positive statistically significant with analyzed firms. In most estimated models, culture has shown research provides evidence environment in which firms operate influences their suggesting managers’ knowledge about specific organizational regions or is vital corporate decision-making process.