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The purpose of this study is to propose an alternative basis for calculating cultural distance scores using Schwartz's cultural values.

Cultural distance scores were calculated for 23 countries, based on the two most common measures of cultural difference (four cultural dimensions and Schwartz's 1994 culture level values), following Kogut and Singh's formula. Correlation analysis was used to assess the congruency between these two bases of cultural distance. In addition, their relationship with international trade figures was assessed, to understand how well each framework predicts the amount of trade between countries.

Inter‐country distances between 23 countries suggest that the two bases of cultural distance were not congruent. While the correlation between both cultural distance measures and international trade suggested a negative relationship, as expected, only cultural distance based on Schwartz's values was significantly related to international trade (p<0.05). It would appear that, at least in a trade context, Schwartz's values may play a more significant role than do Hofstede's dimensions.

To date, most cultural distance scores have been based on Hofstede's cultural dimensions. This paper provides the first analysis of cultural distance based on Schwartz's country level values. The paper shows that the two measures are not congruent and that, at least in the context of trade, cultural distance measures based on Schwartz's may be superior. Thus, researchers should carefully consider which cultural base is most appropriate for use in their study.

On May 17, 2012, the social networking company Facebook Inc. fixes its initial public offering (IPO) price at $38.00 a share. Over the next couple of months, contrary to expectations raised by previous IPOs, the stock price crashes more than 50 per cent. Immediately, the question arises whether the issuer’s or the stock market’s pricing of the share are in line with the firm’s fundamentals. Thus, the purpose of this paper is to determine the company value in close proximity to the date of IPO.

As Facebook is an archetypal internet growth company, it is evaluated using the Schwartz/Moon model. This approach features significant advantages over traditional valuation models and more adequately captures the characteristics of growth companies.

As of September 30, 2012, the fundamental share value determined was $26.53, which exceeded the market price per share of $22.66 by 22.48 per cent, but was far less than the IPO stock price. The subsequent sensitivity analysis reveals the robustness of the result to key input parameters.

The results raise doubts about the IPO price of Facebook. Furthermore, this paper is of value from a more conceptual perspective in that an extended version of the Schwartz/Moon model is provided. Beyond extensions previously discussed in the subject-based literature, the authors include stochastic interest rates (as an additional source of uncertainty) and investigate their valuation effects.

This study aims at investigating the effects of cultural values on corruption by integrating Hofstede's, Schwartz's, and Inglehart's frameworks.

First, corruption is conceptualized and Schwartz's, Hofstede's and Inglehart's cultural dimensions are presented. In the second part, the relationships among concepts are discussed and the hypotheses, variables, and theoretical models are presented. Then, the empirical tests are conducted, the theoretical/managerial implications are discussed, and an integrative model is proposed.

The empirical analysis confirms that after controlling for the effects of socio-economic development, cultural values have considerable influence on the level of perceived corruption. More specifically, it is found that Hofstede's High Power Distance, High Uncertainty Avoidance, Masculinity and Collectivism, Schwartz's Conservatism and Harmony, and Inglehart's Survival and Traditional-religious dimensions are associated with the corrupt behavior. By contrast, the opposite values namely Hofstede's Low Power Distance, Low Uncertainty Avoidance, Femininity, and Individualism, Schwartz's Autonomy and Mastery, and Inglehart's Self-Expression and Rational-secular dimensions tend to impede corruption.

This study has a limited scope as it relies on narrow conceptualizations of culture and corruption. Furthermore, like many cross-cultural studies, the current analysis relies solely on the national-level data and overlooks the effects of intra-national variations. It is important to note that while culture has important implications for the corrupt behavior, its effects should not be considered as deterministic.

By referring to the integrative model of this study, managers and scholars can conveniently describe a country's culture, understand the implications, and make sense of the level of associated corruption.

This study contributes to the literature by integrating three widely employed cultural frameworks, by incorporating a large number of countries into the research design, by providing a profound understanding of the influence of culture on corruption, and particularly by offering a comprehensive model for scholars and practitioners.

This article aims at offering and validating a theory‐driven conceptualization of the cultural distance index.

First, the cultural distance index is conceptualized, its conceptual properties are discussed, and a generic formula is proposed. Subsequently, the generic formula is applied to Schwartz's and Hofstede's frameworks. Finally, using the new formula the cultural distance is calculated, its robustness is examined, and its advantages over the Kogut and Singh's measure are inspected.

Through this paper it is found that by considering issues such as cultural dimensions' alignment and their relative weight, it is possible to build a more accurate index of cultural distance. Moreover, based on the generic formula it is understood that collectivism/individualism and power distance in Hofstede's framework and conservatism, egalitarianism in Schwartz's model are important cultural dimensions and account for a considerable weight in the cultural distance index.

The index is based on cultural dimensions and naturally it carries all shortcomings attributed to dimensionalization such as symmetry, linearity, stability and causality. In addition, it can be recognized that while alignment is a legitimate method, it should be interpreted cautiously because cultural dimensions are essentially nebulous concepts.

Researchers may use the proposed index to test the implications of cultural differences for a wide range of cross‐national issues such as joint ventures, entry mode choices, mergers, negotiations, organizational behavior, and technology transfer.

This article offers a novel and theory‐driven approach to building the cultural distance index. Considering the popularity of the Kogut and Singh's index in international business, the paper is of major significance.

The aim of this chapter is to: (1) model culture as a configuration of multiple values, (2) identify different culture archetypes across the globe, and (3) empirically demonstrate heterogeneity in culture archetypes within and across 52 countries. We use Schwartz values from the World Values Survey (WVS) and the archetypal analysis (AA) method to identify diverse culture archetypes within and across countries. We find significant heterogeneity in culture values archetypes within countries and homogeneity across countries, calling into question the assumption of uniform national culture values in economics and other fields. We show how the heterogeneity in culture values across the globe can be represented with a small number of distinctive archetypes. The study could be extended to include a larger set of countries, and/or cover a broader range of theoretically grounded values than those available in the Schwartz values model in the WVS. Research and practice often assume cultural homogeneity within nations and cultural diversity across nations. Our finding of different culture archetypes within countries and similar archetypes across countries demonstrates the important role of culture sharing and exchange as a source of reducing cultural conflicts between nations and enhancing creativity and innovation through interaction and integration in novel ways. We examine culture as a configuration of multiple values, and use a novel AA method to capture heterogeneity in culture values within and across countries.

Purpose: Social rejection is a negative interpersonal experience that leads to emotional, cognitive, and physiological outcomes. We develop a theoretical model arguing that social rejection in workplace settings can alter employees' personal values in either the short- or the long term. Methodology: This is a theoretical essay based on three theories: (1) human values; (2) affective events; and (3) shattered assumptions. Findings: In the proposed model, an employee's emotional reactions to social rejection in the workplace (emotional distress or emotional numbness) partially mediate the relationship between the experience of social rejection and short- or long-term development of self-protective (rather than self-expansive) personal values. Originality: The processes whereby social rejection at work leads to personal value change remain largely unexplored to date. The proposed model represents an initial attempt to understand this process, including the effects of emotional distress (long term) and emotional numbness (short term). Research Implications: The model introduces the mechanisms whereby social rejection in the workplace leads to short-term and long-term changes in individual values and has potential to serve as a launchpad for future research interest in this phenomenon. Practical Implications: The framework proposed in this chapter should help scholars to understand better the dynamics of social rejection in the workplace and how this phenomenon affects employees' values in work settings, both in the short- and long term.

Codes of ethics are a moral reflection centred on the duties and rights of a given profession that establishes the minimum moral standards required. These codes imply self-regulation and therefore an individual application on the conduct of professionals. In this chapter we reflect on the main values that guide PR practice based on Schwartz's theory of basic human values, which measures universal values that are recognised throughout all major cultures. A qualitative and quantitative content analysis was carried out of the codes of ethics of six national PR and communication associations and of the Global Alliance's code. The ethics codes were analysed to study the priorities of values stressed by PR professional associations and to highlight the motivational values that may be present in them. Findings show that values contained in the codes of ethics are based on a system of 32 human values; three of the values – the common good, integrity and truthfulness – are identified in all the codes; motivational values relating to universalism, benevolence and conformity are also covered to varying degrees in all the texts. It has been confirmed that the Global Alliance code is the only text that deals with the values of all the motivations described by Schwartz. The PR codes of ethics are based on a list of common ethical values of a collective nature, which are mostly contemplated by the Global Alliance; the main difference at the national level is that Latin countries include in their texts more principles of ethical universalism.

The diversity of perspectives means that one can find many factors and models of proenvironmental behavior. However, they typically suffer from limitations and varying degrees of validity in specific contexts, suggesting that today the prime goal should be to learn and improve the models which have been already developed. In this study, the authors build on the model for predicting proenvironmental behavior developed by Oreg and Katz-Gerro (2006), namely one of the most comprehensive cross-national proenvironmental behavior models and one of the few not to be limited to either a local or single-country context or specific proenvironmental behavior.

By using the statistical matching technique, the authors merged data from two existing databases without common identifiers – the International Social Survey Program (environmental module) and the European Social Survey (Round 5). The resulting multinational data concerning 9,710 observations enabled a replication with extensions of Oreg and Katz-Gerro's (2006) proenvironmental behavior model that incorporates newly added Schwartz's theory of human values. To achieve the study's main objective, that is, to present improvements to the original model of proenvironmental behavior, the authors used structural equation modeling (SEM) procedures to estimate four competing models in the R program.

This study implies that Schwartz's individually measured motivational types of values (benevolence [BE], universalism [UN], self-direction [SD]) are predictors of people's proenvironmental behavior, while his conceptualization of post-materialism yields a better model fit than Inglehart's country-level post-materialism scores. The results also corroborate previous findings that post-materialist values can stimulate proenvironmental behaviors through attitudes, perceived behavioral control and intentions. The present study reveals that proenvironmental attitudes did not change substantially in the 10-year period, even though the world's environmental and sustainability challenges have largely increased. Surprisingly, the mean value of several of the perceived threat variables even decreased.

The authors externally validate one of the most comprehensive proenvironmental behavior models by reproducing it using new multinational large-sample data with nearly 10,000 observations collected 10 years later. The most significant addition to the original model introduced in the current study is the inclusion of Schwartz's motivational types of values, which are measured at the individual level, namely BE, UN and SD. The authors also extend the model by adding proenvironmental behavior measures and group the construct into three latent variables: saving natural resources, green purchasing and environmental activism.

The purpose of this study is to portray societal/cultural values of Turkish people as perceived by managers and academicians. The study also aims to provide an understanding of the cultural context of the Turkish society in terms of socio‐cultural dimensions such as high and low context, monochronic vs polychronic, self‐determined, and temporal orientation.

Instead of using Schwartz's 56‐item questionnaire, the authors used seven cultural and ten individual dimensions as individual items. Cultural values were captured from managers' and academicians' perspectives by changing the frame of reference from self to others. The questionnaire was designed for two different age groups to find the magnitude of change in connection with cultural values.

Results indicate that Turkey can be defined as a conservative country. Hierarchy is ranked as the second most important polar dimension, and the order of cultural values indicates a reverse direction compared to the findings of similar studies with reference to European countries. It also deserves to emphasize the fact that the younger group of respondents is much more conservative and seeks more power over people and resources than the older group of respondents.

This paper, to some extent, may serve as a guide in reflecting today's cultural values in Turkey. It also makes a modest contribution to the relevant literature due to both the portraying cultural values of Turkish people, and the usage of methodological considerations for data collection purposes.

The purpose of this paper is to provide a theoretical and empirical comparison of four major national cultural value models for perceived corporate reputation (CR) of multinational corporations (MNCs) across nations: Hofstede, Schwartz, the GLOBE study and Inglehart.

Two consumer surveys on an MNC and on competitors in 25 countries in the year 2015 (n=20,288 and 25,397) were used for the first time to compare the roles of the cultural value models as antecedents of CR, using multilevel structural equation modeling (MSEM), which disentangles the explained variances on the country level and on the individual level.

National culture is strongly attributed to individual CR perceptions of MNCs across nations. However, the four conceptual cultural value models explain the variance differently (46.2–84.6 percent) as do particular cultural value dimensions within each model. The results are stable for both surveys.

Novel insights into the roles of cultural value models are provided for international business research. For MNCs aiming to use their CR to attract target groups in foreign countries, this study identifies the most influential cultural value model and particular dimensions.

This study contributes to cultural research by deepening the understanding of the various cultural value models and their importance for MNCs. Moreover, the authors add to the CR research by providing new insights into perception differences and using the still novel MSEM.