If you are NOT a good manager, that is all that you care about.
Did you fail to plan the rest release? Developers will do extra hours.
Did you miss understood the requirements? Developers will fix it with extra hours.
Did you decide to use the wrong technology for the project? Developers will work extra hours.
A company that hires only people that does what is told and stays longer hours have incompetent management.
> I wonder if it’s a good for efficiency.
Companies that value diversity (age, gender, nationality, etc.) are the ones looking for that high-quality output that makes products work in the long term.
Sweden is as successful as China when it comes to software, even that there are orders of magnitude of the difference of population. The main reason is the respect for family and employees. Even that Sweden also is far from perfect.