The Value of Corporate Culture

Luigi Guiso, Luigi Zingales and Paola Sapienza

No 9716, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: We study which dimensions of corporate culture are related to a firm?s performance and why. We find that proclaimed values appear irrelevant. Yet, when employees perceive top managers as trustworthy and ethical, firm?s performance is stronger. We then study how different governance structures impact the ability to sustain integrity as a corporate value. We find that publicly traded firms are less able to sustain it. Traditional measures of corporate governance do not seem to have much of an impact.

Keywords: Corporate culture; Going public; Integrity (search for similar items in EconPapers)
JEL-codes: G30 Z1 (search for similar items in EconPapers)
Date: 2013-11
New Economics Papers: this item is included in nep-bec and nep-hrm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Related works:
Journal Article: The value of corporate culture (2015)
Working Paper: The Value of Corporate Culture (2013)
Working Paper: The Value of Corporate Culture (2013)
Chapter: The Value of Corporate Culture (2011)
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