Category Archives: National culture

Cultural Differences in the Attitudes to Securities Market Regulation: The Case of the Barings Collapse

Miley, F. M., & Read, A. F. (1996). Cultural differences in the attitudes to securities market regulation:  The case of the Barings collapse. Australian Journal of Corporate Law, 7(1), 105-119.


When Barings Bank collapsed, it made headlines. In Asia, it was viewed as a precursor to an entire financial system collapse. Tougher regulations were called for. In Anglo-Saxon countries, such as Australia, the collapse was viewed as indicative of a healthy market system. Regulators did not see a need for any tightening of regulations. This article examines the responses of Japan, the United Kingdom, the United States, Australia, Hong Kong and Singapore to the Barings collapse, as reported in the English language press of each country. It draws on an established literature in cross-cultural psychology to explain national reactions to failure of a financial institution as dependent on cultural values which lead to fundamentally different views on the role of market regulations.


The Limitations of the Culture Construct as an Explanatory Tool

Miley, F. M., & Read, A. F. (1997). The limitations of the culture construct as an explanatory tool. Paper presented at the 9th Asian-Pacific Conference on International Accounting Issues, Bangkok, Thailand.


Culture has been used as a predictive and explanatory tool in international accounting research.  Its use as an explanatory tool is questionable due to problems defining culture, problems operationalising the definition, measurement issues and problems interpreting the measurements.  This paper examines the limitations of culture as a tool in explanatory accounting research.

Link to full paper

Link to conference