Table 5.

Summarizing of findings for effective cultural dimensions, country category and economic activity.

Country Category	Market System	Herd Behavior (CSSD)	Average Cultural Dimensions	Effective Cultural Dimensions
E7	Bank-based	Not detected	A = 3.97, IC = 4.79, GC = 5.45, FO = 5.36, GE = 4.20, HO = 5.34, PO = 5.71, PD = 2.71, UA = 5.11	Performance Orientation, In-Group Collectivism, Future Orientation, Humane Orientation
E7	Bank-based	Detected	A = 3.97, IC = 4.79, GC = 5.45, FO = 5.36, GE = 4.20, HO = 5.34, PO = 5.71, PD = 2.71, UA = 5.11	Performance Orientation, In-Group Collectivism, Humane Orientation, Future Orientation
E7	Market-based	Not detected	A = 4.12, IC = 4.74, GC = 5.40, FO = 5.37, GE = 4.25, HO = 5.30, PO = 5.74, PD = 2.78, UA = 4.19	Performance Orientation, In-Group Collectivism, Future Orientation, Humane Orientation
E7	Market-based	Detected	A = 3.73, IC = 4.81, GC = 5.48, FO = 5.57, GE = 4.39, HO = 5.30, PO = 5.75, PD = 2.59, UA = 4.89	Performance Orientation, Future Orientation, In-Group Collectivism, Humane Orientation
G7	Bank-based	Not detected	A = 4.04, IC = 4.52, GC = 5.67, FO = 5.37, GE = 4.95, HO = 5.57, PO = 6.06, PD = 2.79, UA = 4.15	In-Group Collectivism, Humane Orientation, Performance Orientation, Gender Egalitarianism, Future Orientation
G7	Bank-based	Detected	A = 4.22, IC = 4.36, GC = 5.64, FO = 5.35, GE = 4.92, HO = 5.53, PO = 6.05, PD = 2.80, UA = 4.02	Performance Orientation, Humane Orientation, In-Group Collectivism, Future Orientation
G7	Market-based	Not detected	A = 3.82, IC = 4.69, GC = 5.78, FO = 5.40, GE = 5.00, HO = 5.62, PO = 6.08, PD = 2.76, UA = 4.24	Performance Orientation, In-Group Collectivism, Future Orientation, Gender Egalitarianism
G7	Market-based	Detected	A = 3.86, IC = 4.73, GC = 5.91, FO = 5.34, GE = 4.87, HO = 5.74, PO = 6.11, PD = 2.84, UA = 4.19	Performance Orientation, In-Group Collectivism, Humane Orientation, Future Orientation