The impact of national culture, altruism, and risk preference on salaries: The case of the Major League Baseball.

Based on the longitudinal data of 30 Major League Baseball (MLB) teams over seasons from 2017 to 2020, we used random effect (RE) models to conduct regression analyses on the detailed data of pitchers and fielders. Cultural distance (CD) was measured in terms of Hofstede's cultural indicators and Global Preference Survey (GPS) data. The results showed that salary premiums for foreign MLB players existed and CD was significantly positively correlated with salaries.