Does Corporate Culture Matter? An Empirical Study on Japanese Firms

Shinichi Hirota, Katsuyuki Kubo and Hideaki Miyajima

Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: Corporate culture does matter. Using Japanese firms' data from 1987-2000, we have shown that the strength of corporate culture significantly affects corporate policies such as employment policy, management structure, and financial structure. We have also confirmed that the culture and its embedding contribute to better corporate performance. These culture effects are found to be considerable in magnitude and at least as large as those of other factors. We suggest that it is important to recognize the existence of the culture for understanding corporate policies and performance.

Pages: 35 pages
Date: 2007-05
New Economics Papers: this item is included in nep-bec and nep-cbe
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:07030

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