Two Essays on Finance and Culture

Author

Gia Han Ngoc Doan, The University of Texas Rio Grande Valley

Date of Award

5-2025

Document Type

Dissertation

Degree Name

Doctor of Philosophy (PhD)

Department

Finance

First Advisor

Incheol Kim

Second Advisor

Monika Rabarison

Third Advisor

Andre Mollick

Abstract

This dissertation consists of two essays on finance and culture. The first essay examines the relationship between corporate quality culture and product recalls. The results show that firms with a stronger quality culture are less likely to have product recalls. This relationship is stronger for firms with more female directors and higher levels of managerial ability. We also find that for firms in high-tech industries, the impact of quality culture on product failure is more profound. The results are robust to various endogeneity tests and alternative models. Our findings support that a firm’s quality culture significantly influences product success and consumer well-being.

The second essay examines the relationship between social tolerance and firm innovation. We find that firms located in states with higher levels of social tolerance are more innovative. We also find that firms in areas with higher degrees of social tolerance attain higher diversity scores. In addition, the relationship between social tolerance and firm innovation is stronger for firms located in states with higher levels of social capital and for firms with weaker diversity initiatives. Collectively, our findings support the notion that social tolerance, representing the openness and inclusiveness of a local community, plays a significant role in firm innovation.

Comments

Copyright 2025 Gia Han Ngoc Doan. https://proquest.com/docview/3240632613

Recommended Citation

Doan, G. N. (2025). Two Essays on Finance and Culture [Doctoral dissertation, The University of Texas Rio Grande Valley]. ScholarWorks @ UTRGV. https://scholarworks.utrgv.edu/etd/1692