@article{abdelrahim2021influence,
  title = {The Influence of Indulgence and Long-Term Orientation on A Country's Risk Aversion},
  author = {Yousif ABDELRAHIM},
  year = 2021,
  url = {https://ibimapublishing.com/articles/JOMS/2021/909336/},
  journal = {Journal of Organizational Management Studies},
  volume = 2021,
  pages = 9,
  doi = 10.5171/2021.909336,
  abstract = {This study explores the relationship between the Hofstede's cultural values of indulgence-restraint, long-term-short-term orientation, and risk aversion in 53 developed and developing countries. The author used linear multiple regression analysis, controlled for the countries' per capita income, and religiosity secondary data from multiple sources to test the two hypotheses. These sources include Hofstede's Cultural Study in 2010; Relative Risk Aversion Around the World; the Country-level Religiosity Index; and the World Bank Group. The study results suggest that indulgence has a positive and significant impact on the country's risk aversion. However, the long-term orientation has a positive and non-significant impact on the country's risk aversion. This study confirms that cultural values matter when it comes to risk aversion across countries. The study also shows that the cultural values of individualism and uncertainty avoidance influence risk aversion in countries and they are indulgence-restraint.},
  keywords = {Risk-Taking, Risk Aversion, Risk-Preference, Risk Attitude.},
  note = Article ID: 909336
}