Impact of Hofstede's Cultural Dimensions on the Human Development Index of European Countries: Longitudinal Time Series Analysis. Secondary Research - Paperback

by Maisum Raza (Author)

Bachelor Thesis from the year 2018 in the subject Cultural Studies - Basics and Definitions, grade: 75%, Anglia Ruskin University, course: Bachelors (Hons) in International Management, language: English, abstract: Hofstede's cultural dimensions is a cultural dimension tool which was used as the independent variable and its impact was tested on the Human Development Index, a socio-economic cultural development index; only in Europe. Through research concluded that both these models were the best fit due to availability of data as well as time constraints. The literature gap revealed that no other research did this research fully with all cultural dimensions, HDI, and only in Europe. A longitudinal secondary quantitative study was done considering the latest 5 years of HDI scores from UNDP and a regression, descriptive analysis, and normality test was done to determine the impact. Data was collected through reputable primary sources online. The test revealed that only 3 of the cultural dimensions proved to have an impact on HDI. Power distance had a negative significant impact. Individualism and Indulgence had a significant positive impact. Three of the six null hypotheses were deemed true. This study can provide useful insights for businesses and academics that are looking towards the continent of Europe to further expand their cultural knowledge for various purposes.