Abstract
This paper analyzes cultural factors of the Baltic and Scandinavian societies applying Hofstede“™s cultural diÂmensions“™ model, also Herd behavior manifestation probability within stock markets of these countries. It was revealed, that the likelihood of the Herd behavior occurrence is reduced, when dimensions of the individualÂism, masculinity, uncertainty avoidance, and long-term orientation are dominating cultural environment of the country.
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