What would people do with their money if they were rich? A search for Hofstede dimensions across 52 countries

Michael Minkov (Sofia Campus, Varna University of Management – Sofia Local Center, Sofia, Bulgaria) (University of Tartu, Tartu, Estonia)
Pinaki Dutt (Department of Strategy, MediaCom, Singapore)
Michael Schachner (Itim International, Helsinki, Finland)
Janar Jandosova (Sange Inc., Astana, Kazakhstan)
Yerlan Khassenbekov (AIRI, Astana, Kazakhstan)
Oswaldo Morales (ESAN University, Lima, Peru)
Vesselin Blagoev (Varna University of Management – Sofia Local Center, Sofia, Bulgaria)

Cross Cultural & Strategic Management

ISSN: 2059-5794

Publication date: 26 April 2019

Abstract

Purpose

The purpose of this paper is to test the replicability of Hofstede’s value-based dimensions – masculinity–femininity (MAS–FEM) and individualism–collectivism (IDV–COLL) – in the field of consumer behavior, and to compare cultural prioritizations with respect to disposable income budgets across the world.

Design/methodology/approach

The authors asked 51,529 probabilistically selected respondents in 52 countries (50 nationally representative consumer panels and community samples from another two countries) what they would do with their money if they were rich. The questionnaire items targeted Hofstede’s MAS–FEM and IDV–COLL as well as a wider range of options deemed sufficiently meaningful, ethical and moral across the world.

Findings

The authors obtained two main dimensions. The first contrasts self-enhancing and altruistic choices (status and power-seeking spending vs donating for healthcare) and is conceptually similar to MAS–FEM. However, it is statistically related to Hofstede’s fifth dimension, or monumentalism–flexibility (MON–FLX), not to MAS–FEM. The second dimension contrasts conservative-collectivist choices and modern-hedonistic concerns (donating for religion and sports vs preserving nature and travel abroad for pleasure) and is a variant of COLL–IDV.

Research limitations/implications

The authors left out various potential consumer choices as they were deemed culturally incomparable or unacceptable in some societies. Nevertheless, the findings paint a sufficiently rich image of worldwide value differences underpinning idealized consumer behavior prioritizations.

Practical implications

The study could be useful to international marketing and consumer behavior experts.

Social implications

The study contributes to the understanding of modern cultural differences across the world.

Originality/value

This is the first large cross-cultural study that reveals differences in values through a novel approach: prioritizations of consumer choices. It enriches the understanding of IDV–COLL and MON–FLX, and, in particular, of the value prioritizations of the East Asian nations. The study provides new evidence that Hofstede’s MAS–FEM is a peculiarity of his IBM database with no societal analogue. Some of the so-called MAS–FEM values are components of MON–FLX, which is statistically unrelated to Hofstede’s MAS–FEM.

Keywords

Acknowledgements

The data collection for this study was financially supported by MediaCom Ltd.

Citation

Minkov, M., Dutt, P., Schachner, M., Jandosova, J., Khassenbekov, Y., Morales, O. and Blagoev, V. (2019), "What would people do with their money if they were rich? A search for Hofstede dimensions across 52 countries", Cross Cultural & Strategic Management, Vol. 26 No. 1, pp. 93-116. https://doi.org/10.1108/CCSM-11-2018-0193

Download as .RIS

Publisher

:

Emerald Publishing Limited

Copyright © 2019, Emerald Publishing Limited

Please note you might not have access to this content

You may be able to access this content by login via Shibboleth, Open Athens or with your Emerald account.
If you would like to contact us about accessing this content, click the button and fill out the form.
To rent this content from Deepdyve, please click the button.